The Department of Energy has closed its $465 million loan with Tesla Motors, Inc. for construction of a manufacturing facility in southern California on the Model S electric sedan and a power-train manufacturing facility in Palo Alto, California. The Palo Alto facility will assemble electric vehicle battery packs, electric motors, and related electric vehicle control equipment, both for Tesla’s own electric vehicles and for sale to other automobile manufacturers.

The press release from the US Department of Energy

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