Tesla Motors Repays $465M Government Loan 9 Years Early

Posted by Soulskill on Wednesday May 22, 2013 @10:26AM from the electric-money dept.

Tesla Motors announced today it has completely repaid the $465 million loan from the U.S. Department of Energy the company received in 2010. The funds were generated by Tesla through a recent sale of their stock, worth close to a billion dollars. The stock price had risen sharply after the company reported its first profitable quarter (and the stock still sits roughly 50% higher than before their earnings release). Today's payment of $451.8 million finished off both the loan's principal and its interest, nine years before the final payment was due. Tesla CEO Elon Musk said, 'I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate. I hope we did you proud.'

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It's about time! by Anonymous Coward · 2013-05-22 10:32 · Score: 4, Funny

Finally!
Congratulations! by tnk1 · 2013-05-22 10:34 · Score: 4, Funny

Good job!
So, when do they start making a car that I can afford to drive?
1. Re: Congratulations! by Mitchell314 · 2013-05-22 11:06 · Score: 4, Funny
  
  Some people are bald, you insensitive clod.
  
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  I read TFA and all I got was this lousy cookie
2. Re:Congratulations! by quantaman · 2013-05-22 15:09 · Score: 4, Funny
  
  Hey - we don't know if he is a guy. Her could be a girl. Or a dog. Or a AI. Who knows?
  tnk1 is a guy's name.
  
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  I stole this Sig
No, no by Intrepid+imaginaut · 2013-05-22 10:35 · Score: 4, Funny

Electric cars will lead to nipples and other unamerican things.