Tesla Motors applies for $400 million government aid

Fledgling electric car company Tesla Motors has encountered financing problems recently, prompting the firm to apply for a $400 million aid package from the Department of Energy. The DOE has already approved a $25 billion loan package designed to help American manufacturers create more efficient vehicles, but there are rumors that the rules of the loan could be altered to help the Detroit 3 carmakers remain viable. News of Tesla's $400 million request came directly from the horse's mouth, with Tesla's vice-president of corporate development, Diarmuid O'Connell, hinting that if government aid is not forthcoming then Tesla may have to shut its doors.

Tesla Roadster



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