Tesla Motors isn't the only company looking for funding right now. As well as Tesla, XP Motors and others descended on Washington yesterday to here what what was on offer in terms of funded to them as part of the $25B fund being made available.

Detroit's Big Three automakers also have applied for at least $22 billion of the program's money, according to Michael Carr, counsel to the Senate Energy Committee, which spearheaded the legislation. Carr said he was concerned that smaller companies might be left to fight over a disproportionately small share if the Big Three get that sum, while others worry that they will use the money to cover everyday expenses.