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Tesla: How the U.S. government's bungled investment in the car company cost taxpayers at least $1 billion.
In 2009, as the financial crisis raged and General Motors and Chrysler plunged toward bankruptcy, Tesla Motors faced a seemingly impossible task: raising half a billion dollars to build an electric-car factory. Tesla had just staggered through a year of layoffs, canceled orders, and record losses. Then suddenly, salvation. The U.S. Department of Energy offered to lend the company $465 million at rock-bottom interest rates.
read on keon
Tesla is worse than Solyndra: How the U.S. government bungled its investment in the car company and cost taxpayers at least $1 billion. - Slate Magazine
Tesla: How the U.S. government's bungled investment in the car company cost taxpayers at least $1 billion.
In 2009, as the financial crisis raged and General Motors and Chrysler plunged toward bankruptcy, Tesla Motors faced a seemingly impossible task: raising half a billion dollars to build an electric-car factory. Tesla had just staggered through a year of layoffs, canceled orders, and record losses. Then suddenly, salvation. The U.S. Department of Energy offered to lend the company $465 million at rock-bottom interest rates.
read on keon
Tesla is worse than Solyndra: How the U.S. government bungled its investment in the car company and cost taxpayers at least $1 billion. - Slate Magazine