Saturday, December 8, 2012

American Electric Carmaker Tesla Investigated for Use of Foreign Parts

American Carmaker Tesla is a federal investigation for possibility violating the terms on his 2010 Government loan which required that all parts were purchased by American providers. ICE agency has focus its investigation on weather Tesla has been using its foreign trade zone status to buy parts made oversees for the construction of its vehicles.

Tesla has benefited from loans from the State Department aim to energized the electric cars industry. The company was founded in 2003 and sell luxury sedans in the price range of $50.000 to $97.000. The company has been praised recently by president Obama as an example on where the car industry in America should go with clean energy.
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Foreign trade zones were created in the 1930's to allow American companies to easily import necessary supplies from foreign countries without the required custom procedures.

ICE agency has been investigating the matter for over 1 year now according to the Washington Post.
In early November Tesla reported a bigger than expected lost for Q3. According to the company the positive news is that it has now producing 200 cars per day, compared to 3 months earlier when the total production was only 5 cars per week. The company books also show it has started repaying the $465 million federal loan.

Related Media:
Tesla 2013 model review:

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Published on Dec 08, 2012.

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