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The White House granted General Motors and Chrysler a reprieve Friday when it authorized $17.4 billion in emergency loans. President Bush said the alternative – the collapse of two American icons – was “not a responsible course of action.”
It’s impossible to say whether loans from the Treasury Department’s $700 billion financial stabilization fund will revive Detroit. No one knows whether Chrysler – which paid off its 1979 bailout loan and handed a nice profit to the federal government – can return from the brink again.
But the administration and Congress clearly charted a “responsible course” in preserving the Advanced Technology Vehicle Manufacturing Program. The $25 billion ATVM provides new and established automakers and suppliers with incentives so they may build fuel-efficient vehicles and get them to customers faster. It could also become a cornerstone of job creation for future generations: U.S. manufacturing in the 21st century is likely to be based alternative-fuel, advanced technology vehicles that reduce our carbon footprint and reliance on foreign oil.
Tesla Motors has applied for about $400 million in low-interest loans to support two future projects. One would help finance a manufacturing facility to make an all-electric, zero-emission five-passenger family sedan – the precursor to a $30,000 all-electric, zero-emission subcompact. The second loan would help finance an advanced battery and powertrain manufacturing facility to supply Tesla’s EV powertrain to other automakers, both domestic and foreign.
The Tesla Roadster gets 244 miles at a cost of roughly $4 per charge, liberating drivers from petro-state dictators, OPEC-mandated price fluctuations and Big Oil oligopoly. It’s the only highway-capable, all-electric, zero-emission production car for sale today. Given such disruptive technology, it’s easy to understand why Tesla is – no pun intended – a lightning rod for debate. Some pundits say Tesla is somehow at odds with the rest of the industry.
In fact, the opposite is true. Tesla, which is already selling powertrains for use in other automakers’ vehicles, has a deeply vested interest in a robust economy and proliferation of viable automakers. If any manufacturer in Detroit, Tokyo or Stuttgart ceases operations, Tesla could lose a potential partner.
Last week, Tesla delivered its 100th vehicle — a humble but symbolic milestone confirming Tesla as the newest member of the global auto sector. Tesla profits from a dynamic industry – and I hope the bailout provides a catalyst for positive change in Detroit. Thanks to the ATVM, I also look forward to a profusion of fuel-efficient technology — breakthroughs that will ultimately benefit corporations, consumers and the earth.
Posted in the categories: Company, Public Policy
To all who claim the US automakers mistakes are the only reason the industry is suffering -
AP 7:17 a.m. PT, Mon., Dec. 22, 2008
NAGOYA, Japan - Toyota Motor Corp. projected its first-ever operating loss since it began such reports, acknowledging Monday that its nine-year stretch of global vehicle-sales growth had stalled.
Crashing auto demand, especially in its key U.S. market, and the profit erosion from a surging yen proved too much for Japan’s top automaker, which had been booming on the success of its fuel-efficient models, including the Camry sedan and Prius gas-electric hybrid.
The 100th Roadster was delivered on Dec 9th, 2008. The latest I heard, Tesla was around the 120 mark.
Go Tesla Motors!
It would be great if Tesla could provide a real-time “delivery counter” to enable everyone to keep tabs on how many vehicles have been delivered to date. This seems to be the keenest area of interest as Tesla ramps up production.
I expect and hope a resurgent economy in 6-12 months will re-accelerate Tesla’s initiatives. It would be interesting to know what the order book and backorders look like at the moment!
i think that all Tesla fans and those who believe that an all-electric car is the path to a greener future need to contact the government decision makers who will review Teslas’ $400 application. Can anyone provide me with an address and congressman to mail/email my thoughts?
it seems to me it will be a long wait before a maintenence-revenue-based auto industry leads us in this direction as empiracal results so far have shown pure electrics require much less maintenance. And their relationship with the oil companies with regular fuel and lubrication needs are not likely partners either!
The main industrial stakeholder should be the local electric utility but they have pocketed any profits as salary rather than investing in more advanced infrastructure. perhaps with pressure from Obama, and us this may change this year.
My Tesla (bright Orange) arrives this year!
Excellent points. People are finally accepting the realities of our complex economy. Bash old tech if you like, but we are still dependent upon it until we segue to something new / better. The oil price shock we got this summer should awaken us all to the reality of the interdependence of so many different aspects of our economy, so that pundits and politicians alike will learn to bite their tongues before attempting to throw any company or industry under the bus.
Godspeed, and I’ll be paying you a visit when the sedan is in the showroom.
My company is intent to commercialize RET, its high efficiency multi-fuel thermal engine. It is a Green engine. In a Telsa without the huge battery weigth, and RETs characteristics, it will maintain its stated performance, yet achieve over 100 MPG. 150MPG if you drive optimatlly. Its ultralight weight means one could have a drop-in unit that could extend its range indefinitely using diesel fuel stations worldwide, as needed. Or, for selfcontained overnight, or off-use charging without plugging in. JR CEO Sannerprojects, Inc (USA, Maryland)
I am fascinated with your company and projects. The roadster is fabulous and your plans for a family car and a compact look very nice. You seem to have assembled a really savvy team. I would hope that you plan a small compact 4×4 SUV in the future as well. I am also wondering if you are working with nano-tech solar collectors with an eye toward using them on the roof. It would be great to be charging with the sun when parked or even when driving long distances.
It would be nice if you would post some concept sketches on this site so that we can keep up with some of the vehicles you are planing in the future and perhaps get on a waiting list for one. I’d love to get off gas if I could have a small 4×4!
It was also be nice if you would put information on your site about how someone could invest in your company.
Thank you and best of luck with your projects in the coming year!
I enjoy reading your technical updates regarding the roadster and other potential vehicles. I DO PLAN TO BUY, but living in a small town I want to see intastructure for charging in place. I drive about 1000 miles per week and I am looking forward to “plugging in” and not “filling up.” Thanks for your products and keep pushing the envelope on alternatives to gasoline engines.
Hi there,
The car looks great. Now think about this. How much leather seats add to the idea of a car for a better world. How about slaughter of animals to make the trim?
I can buy this car as long as the seats are cruelty free. Thinking “green” is cool. Now can you go deeper than that? I challenge you to.
Good luck!
Tesla Motors needs to hurry up the cakes! I’m ready for my all-electric family sedan!
As long as we humans eat meat leather seats are just good way to use leftover skins. And as humans are partially predatory animals we will be eating meat until world food sources are too scare to afford growing meat animals. Many necessary proteins we need are animal-based. It would be less green not to use those skins for some practical use like coats and seats.
Furs are different matter completely, those we don’t eat and don’t need.
So be green and buy Roadster.
Lexus,
You can buy it with Microfiber seats www.teslamotors.com/display_data/teslaroadster_specsheet.pdf
Olá.
First desire excellent a 2009 voces. Second, it would like to know what they had found of the idea that I sent in the year passed on a on alternator to the back axle of roadsterMY.
I still use to advantage to know if already they had thought about the possibility of opening of a concessionaire in Curitiba/Brazil?
Great I hug to all
Wiliam Castelli
For a real aero-dynamic vehicle, have a look at this: www.youtube.com/watch?v=8Dv-gl6RCGc
William Caselli,
Yes they do have an alternator on the back axle, it is part of the original design. They call it regenerative braking.