After having defended the U.S. Department of Energy’s controversial loan to Solyndra in the wake of its bankruptcy, Tesla felt it could ask for a loan of its own. The famed electric cars manufacturer intends to use the money to continue its mission of making more affordable electric vehicles. Apparently the money that the company asked for produced 1,000 jobs and is expected to create another 1,000 in the year ahead.
There aren’t any other details available on how Tesla intends to use the money or on the exact sum that it asked for, but the company’s spokesman Khobi Brooklyn has recently confirmed that the loan application was completed.
This is not the first time that Tesla has solicited financial help from the feds. The much anticipated Model S, which is expected to appear on the market by the end of 2012, is actually the result of another DoE loan: $465 million.
