U.S. Government Fuels $350M Tesla Loan.

TESLA Inc.; CORPORATE finance; UNITED States. Dept. of Energy; ELECTRIC automobiles; MUSK, Elon, 1971-

The article reports that the U.S. Department of Energy will issue $350 million in loans to electric car manufacturer Tesla Motors. Such loan is aimed at helping Tesla finance its Model S and keep it on track for production in 2011. Model S is expected to sell for nearly $60,000. Meanwhile, Tesla Chief Executive Elon Musk revealed that the company is also finalizing agreements to open six sales and service centers in the U.S., Germany and England.