Telsa Motors, an automobile corporation specializing in electric vehicles, was granted $10 million cash by the California Energy Commission. Telsa revealed that the grant would be put towards their upcoming electric SUV, the Model X. With these plans publicized, California regulators gladly approved the transaction.
Telsa, a corporation that brought more than 1,500 jobs to California, will pledge an additional $50 million to Model X production to match the California Energy Commission’s grant. The extra cash will allow for improvements at its Fremont, California plant, such as expanding manufacturing capacity and purchasing additional equipment to produce the Model X. Telsa’s vice president of finance, Mike Taylor, mentioned the grant would bring 700 new jobs to California by 2014 too.
Ultimately, the Model X could be a game changer in California notes Ryan McCarthy, science and technology policy adviser at the California Air Resources Board — “Tesla’s Gen 3 vehicle could ultimately be a game changer for electric vehicles and air quality and public health in California.”
Pricing of the Model X SUV is expected to be on par with the Model S sedan, which currently sells between $50,000 and $100,000. It will be awhile before you can grab this vehicle though, as Telsa estimates production will ramp up in 2014.