Wednesday, September 17, 2008

Help from the Feds

In my effort to keep a close eye on what other car manufacturers intending to change the game are up to, I discovered today that the larger auto manufacturers, and most recently some of the loan industry and insurance industry giants like AIG aren't the only companies receiving help from the Federal Government.
reports that you can now add Tesla to that list

Now, I have to say that of course in the case of companies like AIG, the government isn't "stepping in" to help Tesla in a time of turmoil like we've seen over the past few days, but rather as an effort to turn a new corner in the way we make automobiles. The U.S. Department of Energy has granted Tesla Motors a guaranteed loan (along with other private financiers including Goldman Sachs Group) to help them build their $250 million manufacturing facility.

This government assistance is yet another interesting new trend we will have to continue to monitor as it seems that the Feds are considering offering such loans to companies manufacturing fuel efficient vehicles and vehicles using cutting edge technology.

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