Generation Of Fossil-Fuel-Free Cars

Tesla Motors Unveiled Thursday its Model S, an all-electric sedan it considers to be the beginning of a generation of fossil fuel-free cars and the company profitable. But before that happens, the company must find money to build the vehicle. Tesla is pinning its hopes inWashington and a $ 450 million government loan. The company expects to hear from the Department of Energy this year. “We are very confident that Tesla will be selected and it will appear this year,” said Elon Musk, chief executive of the company, after listing the car for customers, analysts and reporters in a giant hangar, set up to look like a lounge at SpaceX, Mr. musk of rocket factory. Other venture is to build a spaceship. Tesla, which was founded in 2003, was heralded as a solution to Silicon Valley’s energy problem the nation. If a fight Detroit could not make an electric vehicle, then a Silicon Valley start-up would. Today, Tesla is facing the same plight as many green-energy start-ups. These huge, capital-intensive projects have been paralyzed by the credit crisis, and their survival depends on federal loans, which have just started to run. (more…)