Tesla set to open a powertrain plant in Palo Alto
Fresh of posting a surprising surge in sales in July and receiving a substantial government loan, Tesla Motors is looking to build on its momentum as it prepares to open an all-new powertrain production facility and corporate headquarters in Palo Alto, California.
Thanks in large part to the $465 million dollar loan the company received from the U.S. Energy Department, Tesla was able to use that money to open its new three-building facility located at Stanford Research Park with the objective of further developing and building new components for its new-line of electric cars, as well as products for other car brands. In a time where car makers are focusing more on cost-cutting, Tesla seems to riding a wave of momentum as it heads for a new chapter in the company’s history.
After witnessing the success of the $109,000 all-electric Tesla Roadster – which they say was the primary reason for the spike in sales last July - the California-based car maker has decided to widen its fleet of vehicles to cater to a more mainstream audience. The company is already hard at work developing a new line of cars to complement the Roadster, one of which is theModel S electric sedan, a seven-seater electric car the company unveiled a few months ago.
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And now, their new production facility figures to play a prominent role in the development of future Tesla vehicles. On a more macro level, this move is another step in the right direction for a small car manufacturer that seems to have weathered the economic crisis better than most of its contemporaries.
Source: Detroit News