Bad news for treehugging gearheads this morning. Tesla had originally planned on opening a new facility in San Jose to build the Model S electric sports sedan, but the financing fell through. (Welcome to America, Tesla) So as it stands now, the company is going to redirect a $450 million government loan that was originally going to help build the facility into the general budget which will help with the Roadster development.
Tesla still optimistically plans on building the BMW 5 Series electric fighter, but who knows when that will be. However, the company does plan on revealing a fully functional model on March 5. I wanna drive it. Can I drive it? Please?
Tesla is getting a $450M loan from the government to build cars for people who like to drive around and pay over $1/ kwh it costs to discharge a battery?
Having investors over a barrel is one thing, the tax payer is another.