The $465 million loan to Tesla Motors from the U.S. Department of Energy was formally finalized last week. Today, Rep. Lucille Roybal-Allard (CA-34) released the following statement:

"I commend Secretary of Energy Steven Chu for finalizing this loan agreement that was necessary to make the company’s plans to operate a Downey plant a reality. The loan from the Department of Energy is also a strong demonstration of the Administration’s commitment to create jobs that also protect our environment. Toward that end, I am confident Tesla’s commitment to build its new Model S environmentally-friendly electric sedan at the former NASA shuttle manufacturing site is one that will pay big dividends for Tesla, Downey and the entire region."

Though Tesla has not publicly stated where it plans to build the Model S production plant, the company submitted an entitlement application with the city of Downey last week to secure space at the former NASA property.