Did I say anything about Tesla in this story ?
In other story about Tesla subsidizes, some complaint about Tesla received approximately $450-500M in low interest loan from Federal Dept of Energy (or something like that) in 2010, but forget to add that Tesla paid off that loan plus some interest about 9 years ahead of time.
At the same time Tesla received that loan Ford received multi-billions dollar loan and Nissan received more than $1B loan from the same program, but nobody bother to post that.
Yes, Tesla survived because of that half billion dollar loan, but that was peanut compares with $50B GM received in the bail out in 2008, and US taxpayers lost $12B with GM bail out.
To you it is not okay for Tesla to receive half billion dollar loan, even they paid it all back plus interest, but it is good that GM got $50 billion bail out money and paid back only $38 billion ?
It is okay for Nissan to get more than $1B low interest laon from US tax payer but it isn't okay for Tesla to get less than half of that amount ?
What is your logic in this ? Subsidizing foreign companies is good but if the same subsidize to an American company isn't (even with smaller amount) ?
Tesla invests about $5B in Gigafactory in Nevada, they get a total of $1.3B incentive over 20 years, Faraday Future received $350M incentive from Nevada for investing $1B to build a manufacture plant there. Percentage wise Faraday Future received more incentives than Tesla, 35% vs 30%.
Everybody slams Tesla for this but say nothing about Faraday Future, by the way Faraday Future is backed by Chinese billionaire.
Don't you see double standard ? It is actually worse, supporting foreign companies while try to suppress American companies.
PS Federal Dept of Energy loans to car companies in 2010:
DOE announced January 28 that it has closed its $1.4 billion loan with Nissan North America, Inc. to build an advanced battery manufacturing facility in Smyrna, Tennessee, and to retool the automaker's existing Smyrna factory so it can build electric automobiles.
The Nissan announcement marks the third loan agreement signed by DOE with an advanced technology vehicle manufacturer, following a $5.9 billion agreement with Ford Motor Company in September 2009 and a $465 million loan agreement with Tesla Motors, Inc. on January 21.
Low interest loan to Tesla is 1/3 of the loan to Nissan and less than 10% of the loan to Ford.
Tesla received mich smaller loan but got slam for it, while others received much larger loan didn't raise an eyebrow, specially to Nissan a Japanese company.http://apps1.eere.energy.gov/news/news_detail.cfm/news_id=15776