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EMA Vimy Resources Ltd

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Share Name Share Symbol Market Type
Vimy Resources Ltd ASX:EMA Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Energy Department Finalizes $465 Million Loan to Tesla

21/01/2010 9:51pm

Dow Jones News


Energy And Minerals Australia (ASX:EMA)
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WASHINGTON (Dow Jones) -- The U.S. Energy Department on Thursday finalized a long-offered loan to Tesla Motors Inc., continuing its effort to push the nation toward battery-powered vehicles.

The Energy Department finalized the $465 million loan amid pressure from Congress to speed up the award of federal money. It was the second award to be finalized from a $25 billion government loan program to help car makers revamp their U.S. factories to produce advanced-technology vehicles.

Tesla will be use the money for production of an electric vehicle and electric-vehicle parts. The new sedan, known as the Model S, will be designed as a gasoline-free vehicle that produces no tailpipe emissions. The intent is to allow drivers to go 160 miles to 300 miles on a single charge.

--By Siobhan Hughes, Dow Jones Newswires; 202-862-6654; siobhan.hughes@dowjones.com

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