Tesla, Ford, Nissan all receive electric car development loans from U.S. government

The electric car company Tesla has just been granted $465m in loans from the Department of Energy's Advanced Technology Vehicle Manufacturing program.

The bulk of the money will go towards a postponed Model S factory, while the remaining $100m will be used to fund an electric powertrain manufacturing facility that will sell parts like motors and battery packs to other carmakers.

Nissan also received $1.6 billion to build batteries and EVs in Tennessee and Ford received an undisclosed amount to build two upcoming electric cars.

Also, a "congressional source" has told the AP that Ford's getting $5.9 billion.

So much love for the electric car. 'Bout time.