2024 Tesla Cyber Beast on 2040-cars

Auto blog

Five years ago, the DOE loaned Tesla Motors $465 million

*This post has been updated to reflect the nature of the new funding. Five years ago this week, the US Department of Energy finished the paperwork on its Advanced Technology Vehicles Manufacturing (ATVM) loan to Tesla Motors. Despite a lot of controversy about that program, Tesla managed to pay back the $465 million loan early and with interest. The DOE made four other loans under the ATVM program – to Ford, Nissan, Fisker and a small startup, VPG, that wanted to make natural gas powered vehicles for people in wheelchairs. Ford and Nissan are paying the money back, Fisker and VPG are not. Speaking at the Washington Auto Show this week, Energy Secretary Ernest Moniz said that while the two loans "did not fully perform," the portfolio overall is doing well. Even the vehicle that VPG was going to make is still moving forward because another company stepped in. That's why Moniz was proud to discuss details of a separate funding program that will hand out over $55 million for what the DOE calls, "cutting-edge vehicle technologies that strengthen the clean energy economy." Moniz said the new money – as well as a separate $35-million funding program that will be available in February – will be used for improved batteries and other electrification technologies, lightweight materials and better engines for both light- and heavy-duty vehicles. One thing Moniz singled out was a way to make recharging an EV even easier. "This is directly supporting our EV Everywhere Grand Challenge," he said. The Secretary joked that the manager of the new funds has just had a baby, so anyone who wants some of the money should apply soon, while he's still groggy. "Our goal is to help establish these industries and help them grow," Moniz said, adding that the DOE may emphasize private partnerships in handing out the new loans. The two consequences of that would be to increase the amount of money available and also that, "we think there is an advantage in bringing more lenders and more banks to have experience in terms of getting into debt financing across this whole spectrum of technologies." Moniz said that the US government is handing out all of this money on generous terms.

Fast sedans and loose Tweets | Autoblog Podcast #555

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Reese Counts. Reese has been traveling a lot, and the two discuss his recent first drives of the 2019 Mercedes-AMG GT four-door and the 2019 Audi Q3. The pair also talk about the 2018 BMW X2 that's been in the office this week. Also on the agenda is the SEC's lawsuit against Elon Musk, Ola Kaellenius replacing Dieter Zetsche at Mercedes-Benz, Cadillac's move back to Detroit and the upcoming reveal of the 2019 BMW 3 Series at the Paris Motor Show.Autoblog Podcast #555 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Mercedes-AMG GT four-door 2019 Audi Q3 2018 BMW X2 Elon Musk lawsuit New Mercedes-Benz CEO Cadillac is heading back to Detroit The new 3 Series debuts next week Feedback Email – Podcast@Autoblog.com Review the show on iTunes

Governor Rick Perry backs bid for Tesla Stores in Texas

It's funny how the prospect of a $5-billion investment in a state has the ability to focus minds. Take Texas, for example. The Lone Star State has long had laws prohibiting automakers from selling directly to consumers, even if the manufacturer didn't already sell through franchise dealerships. Last year, a bill went to the legislature that would have allowed Tesla Motors to sell directly to its customers, but despite entreaties and a visit from CEO Elon Musk, lawmakers didn't pass it. Sure, Texans can still buy the a Model S, but the process is a bit cumbersome. With the prospect of an expensive battery gigafactory and the jobs it would bring, however, Texas Governor Rick Perry taken to the airwaves cable news outlet Fox Business to make his supportive position known. To be fair, the one-time Republican Presidential hopeful has been in favor of Tesla's sales model for some time. The difference now is he is being proactively vocal about it. Appearing on Opening Bell with Maria Bartiromo, Perry spent close to eight minutes pitching a new approach to dealership laws in his state, at one point referring to the traditional dealer model as "antiquated" and encouraging legislators to have an "open and thoughtful" conversation and decide whether or not they want to lead the country when it comes to manufacturing. If you think that he has become warm and fuzzy about environmental issues, Perry reminds us after a brief discussion on 2014 and 2016 elections – yes, he may run again – that he has no qualms about continuing to rely on fossil fuels, stating that he thinks the most important thing the federal government can do to impact the economy right now is to "say yes" to the Keystone XL pipeline. You can view the segment in its entirety be simply scrolling below.