As part of the Climate Change Initiative passed by congress, the Department of Energy’s Advanced Technology Vehicles Manufacturing Loan Program (ATVMLP) will dispense a total of $8 Billion in loans to auto manufacturers. Generally, an advanced technology vehicle is considered one that operates at least 25% percent more efficiently than the baseline, which uses the 2009 model year to set the standard. Tesla Motors, Inc., a six-year-old start-up in San Carlos, CA, will get $465 million.

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