WASHINGTON-With Tuesday’s announcement of a $465 million federal loan to jump-start production of fuel-efficient cars, Tesla Motors (San Carlos, CA) ensured its survival and helped raise the Bay Area’s stature as a hotbed of green innovation. The company will spend some of that money to open a $100 million advanced battery and powertrain manufacturing facility in the Bay Area.MORE
In the Southeast, the federal government also awarded a $1.6 billion loan to Nissan North America to manufacture electric vehicles and build a new battery factory in Smyrna, TN.
Nissan, Tesla Get Federal Loans
June 25, 2009