Yesterday, the California Energy Commission approved a $10 million grant to Tesla Motors which it said would help the electric automaker prepare for the launch of its second mass-produced car, the Tesla Model X Crossover SUV. Under the terms of the agreement, Tesla will have to match the $10 million in grant funding with $50 million of its own funds. The $10 million will be used by Tesla Motors [NSDQ:TSLA], to expand capacity at its production facility in Fremont, California, where the 2012 Model S Sedan is already made. This will include the purchase of new manufacturing equipment needed to...
My Hummer Isn’t Electric? IRS Details False Tax Credit Claims
During the first half of 2010, nearly 13,000 U.S. taxpayers wrongly claimed a staggering $33 million under the electric tax credit incentive scheme, a Treasury Department inspector general report has revealed. The credits, designed to encourage the uptake of plug-in hybrid and electric-only...Nikki Gordon-Bloomfield
Tesla Joins Tax-Incentive Trail for Not-Yet-Sited Model S Factory
It's starting to seem like tit-for-tat around here, as startup electric automakers Tesla and Fisker vie for--and get--federal- and state-funded loans and tax concessions to build future electric cars. The latest salvo, mere days after Fisker announced its purchase of a former GM plant in Delaware...John Voelcker
Why $2.4 Billion of Battery Grants? To Get US Competitive in Electric Cars
It's now clearer than ever: Electric cars are coming to showrooms near you. They will be fully competitive, their makers are deadly serious, and they will be "real cars" rather than the golf carts people seem to worry about. At GreenCarReports.com, we've experienced the 2011 Chevrolet Volt mule...John Voelcker