• 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.

Continued after the jump.

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

Kirby Garlitos
Kirby Garlitos
Automotive Aftermarket Expert - kirby@topspeed.com
Kirby’s first exposure into the world of automobiles happened when he caught Knight Rider on television as a five-year old boy. David Hasselhoff didn’t leave much of an impression on him (that happened later on in Baywatch), but KITT certainly did. To this day, Kirby remains convinced that he will one day own a car with the same ‘spirit’ as the original KITT (not the 2008 monstrosity). He doesn't know when that will be, but until then, he’s committed to expressing his love for KITT, and all cars for that matter, here at TopSpeed.  Read full bio
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