The Obama Administration will lend Tesla Motors $465 million to build an electric sedan and the battery packs needed to propel it. It’s one of three loans totaling almost $8 billion that the Department of Energy awarded today to spur the development of fuel-efficient vehicles. Energy Secretary Steve...
They didn't give it they lent it, along with billions of dollars to other automakers:
The Obama Administration will lend Tesla Motors $465 million to build an electric sedan and the battery packs needed to propel it
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Energy Secretary Steven Chu announced that the Department of Energy is also lending $5.9 billion to Ford to retool factories in five states. Nissan will receive $1.6 billion to refurbish a factory in Tennessee to produce electric cars.