TESLA | Department of Energy Skip to main content Enter the terms you wish to search for. Search National Labs Energy.gov Offices Leadership Newsroom History Organization Chart Work with Us Loan Programs Office Main navigation Loan Programs Office Home About Us About Us Mission Leadership History LPO Updates Contact Us Energy.gov Home Products & Services Products & Services Advanced Technology Vehicles Manufacturing CO2 Transportation Infrastructure Energy Infrastructure Reinvestment Innovative Clean Energy Innovative Clean Energy: Nuclear Innovative Clean Energy: Fossil Tribal Energy Applicant Resources Application Process Portfolio Portfolio Portfolio Management Portfolio Projects Portfolio Projects by Technology Resources Resources Monthly Application Activity Report Publications LPO Blog Press Releases Glossary of Terms Title 17 Governing Documents ATVM Governing Documents Environmental Compliance button button TESLA Loan Programs Office Loan Programs Office TESLA PROJECT SUMMARY In January 2010, the Department of Energy issued a $465 million loan to Tesla Motors to produce specially designed, all-electric plug-in vehicles and to develop a manufacturing facility in Fremont, California to produce battery packs, electric motors, and other powertrain components for powering specially designed all-electric vehicles. TECHNOLOGY INNOVATION Tesla manufactures the Model S, the first zero-emission, zero-gas, full-size electric vehicle on the market. In addition, Tesla has produced battery packs, electric motors, and other powertrain components that will power all-electric, plug-in vehicles—not only Tesla’s, but also those of other vehicle manufacturers. ECONOMIC IMPACT Tesla created more than 1,500 jobs at its ATVM-supported facilities. The Department of Energy’s investment in Tesla supports the commercial-scale deployment of advanced technologies that help keep American auto manufacturers competitive in the growing global market for advanced vehicles. Tesla is now the largest automotive employer in California and Fremont is becoming a hub of advanced technology manufacturing. CLIMATE BENEFIT Tesla has manufactured vehicles at ATVM-supported facilities that are estimated to save 5,870,000 gallons of gasoline and prevent 52,000 metric tons of carbon dioxide emissions annually. PROJECT STATISTICS: TESLAPROJECT SUMMARYOwnerTesla MotorsLocationFremont, CaliforniaFINANCIAL SUMMARYLoan ProgramATVMLoan TypeDirect LoanLoan Amount 1$465 MillionIssuance Date 2January 2010ECONOMIC IMPACTPermanent U.S. Jobs Supported1,500CLIMATE BENEFITGallons Of Gasoline Saved Annually5,870,000CO2 Emissions Prevented Annually52,000 Metric TonsNOTESAll information up-to-date as of June 2017.1 Approximate amount of the loan facility approved at closing including principal and any capitalized interest.2 Loan fully repaid in May 2013 RELATED PROJECT LINKS Driving Economic Growth: Advanced Technology Vehicles Manufacturing 5 Ways Electric Vehicles are Changing the World Electric Vehicle Manufacturing Taking Off in the U.S. Moniz: Tesla Repayment Shows the Strength of Energy Department’s Overall Loan Portfolio Obama Administration Awards First Three Auto Loans for Advanced Technologies to Ford Motor Company, Nissan Motors and Tesla Motors PROJECT PHOTOS Tesla Motors Tesla Motors Tesla Motors Tesla Motors Tesla Motors Office ofLoan Programs Office Loan Guarantee ProgramU.S. Department of Energy LP 101000 Independence Avenue, SWWashington D.C. 20585 An office of About Loan Programs Office Careers & Internships Open Solicitations Apply Now Energy.gov Resources Budget & Performance Directives, Delegations & Requirements FOIA Inspector General Privacy Program Small Business Federal Government The White House USA.gov Vote.gov Web Policies Privacy No Fear Act Whistleblower Protection Information Quality Open Gov Accessibility Vulnerability Disclosure Program