Tesla Model S Electric Sedan Needs A Government Loan

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Tesla Model S Electric Car

It might not be the best time for a car manufacturer to be requesting a government loan, on account of GM’s CEO being forced to resign by the Obama Administration, but that isn’t going to stop Tesla Motors from doing everything in their power to get their new electric sedan, the Tesla Model S, to market. Tesla is confident their request for $450 million from Washington will go through, and will allow the Model S to be the first mass-manufactured all electric car. The only thing that may keep the Model S from being a huge success is its price point: $57,400, or $49,900 after tax credits.

Although the price is a bit steep in this economic climate, Tesla’s CEO Elon Musk states that after gas-savings are accounted for, the price is closer to $35,000 – a price in the range of the Ford Taurus.

The Model S can drive 300 miles on one charge, and can charge its battery back to full in only 45 minutes. The $450 million Tesla is asking for from the government is in addition to the $186 million its already raised from investors, including both founders of Google. Regardless of whether the loan goes through, Musk and Tesla are certain the car will eventually make it to market. Would you drive one?