TESLA MOTORS WANTS SOME OF BAILOUT PACKAGE
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Silicon Valley-based electric car maker Tesla wants to get a piece of the government's potential $25 billion bailout of American auto makers.
The company's vice president of corporate development told a private equity Web site this week that Tesla is applying for $400 million worth of low-interest loans to build a battery manufacturing plant, and continue development on a new electric sedan.
Tesla is best-known for its $100,000 luxury two-seater. The company recently laid off nearly half of its workforce, and revealed it had to rely on an emergency infusion of cash to stay afloat.
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