- The Washington Times - Friday, February 25, 2011

ANALYSIS/OPINION:

The Feb. 11 editorial “House spending revolt” (Comment & Analysis) incorrectly cites a $456 million loan awarded to Tesla Motors as an example of how the Department of Energy will “lose $1.4 billion.” As with most loans, Tesla must pay it back - with interest. The government does not lose, but gains, from the transaction.

Rather than build a new plant, Tesla is creating jobs at a facility it acquired after General Motors went bankrupt and Toyota was forced to stop operations there. The facility will produce the electric Model S sedan, a five- and two-seat electric sedan offering up to 300 miles of range. With a starting price under $50,000, the Model S will be within the reach of many American families, who will never need a drop of foreign oil again.

Rather than building a “sports car for Hollywood millionaires,” Tesla is dedicated to bringing increasingly affordable electric vehicles to market. We develop and supply technology that helps Toyota and Daimler produce affordable electric vehicles. Tesla is making this technology accessible to everyone.

DIARMUID O’CONNELL

Vice president of business development

Tesla Motors Inc.

Palo Alto, Calif.


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