1min snip

Acquired cover image

Season 3, Episode 1: Tesla

Acquired

NOTE

Tesla's Model S Production is in the U.S.

In 2009, Tesla secured a deal to manufacture the drive trains and batteries for a thousand smart cars, which generated revenue. They also received a $50 million investment at a $500 million valuation from Toyota, and a loan agreement worth $465 million from the U.S. Department of Energy. These deals helped Tesla start ramping up mass production of their Model S and ensured that they produced their own electric vehicle in the U.S., with Fremont, California becoming their manufacturing facility.

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