Tesia Secures $465m Loan from the US, to Build Sexy, Electric Car

The Financial Times reports that Tesla has secured a $465m loan from the US Department of Energy, earmarked for greener car technology to advance the production of its glamorous, groundbreaking electric roadster that accelerates from zero to 60mph in 3.9 seconds and emits no carbon dioxide.

Tesia was one of just three companies, alongside Ford Motor and Nissan, to have made it through an arduous application process, and will be using the money to build production facilities for electric powertrains and for its planned Model S, a $50,000 battery-powered sedan.

Tesia could move from the rarefied world of roadsters to the broader mass market. This news comes a month after Daimler agreed to pay $50m for just under 10 per cent of Tesla.