Posts Tagged ‘government loans’

Report: Energy Secretary Chu Thinks Every Cent Should Go to Electric Cars [Updated]

Attendees at a recent alternative fuels gathering in Washington are reporting that US Secretary of Energy Steven Chu remarked, “If it were up to me, I would put every cent into electric cars,” when referring to the way stimulus dollars should be distributed. With a focus on alternative and renewable fuels, the group was obviously shocked at the concept.

If this statement is being represented accurately, it would not only put Chu directly at odds with Obama administration policy, it would mean that he doesn’t really believe in how his department is distributing their $36.7 billion dollar slice of stimulus funds. The statement would also contradict Chu’s previous stances on biofuels development. Comment from DOE was not immediately available, but I’ve got a request in to confirm or deny the statement as accurate. I’ll update as soon as I hear word.

Update 8:00 PM Pacific Time 10/13/2009: DOE’s Director of Public Affairs, Dan Leistikow, responded to my request from earlier today in an email, saying “I can’t verify the quote the blogger is using from an undisclosed source at an undisclosed meeting, which is at best wildly out of context.” He also added, “Anyone who has spent five minutes listening to Secretary Chu also knows he is one of the country’s staunchest advocates for pursuing a broad portfolio of clean energy research, and has warned against investing all our resources in a single technology to the exclusion of all others.”

Tesla Model S Electric Sedan Finally Revealed

About 7 hours ago (even though pics were leaked a bit earlier), Tesla Motors finally took the wraps off their electric sedan, the Model S. 

The sedan—which will cost about half as much as the Roadster—is intended to be a more practical and affordable alternative to their $109,000 sports car. Tesla anticipates a base price of about $49,900 after taking into account the electric vehicle federal tax credit of $7,500. If you include the cost of buying gas (at $4 per gallon of course) the price drops down to about $35,000.

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