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TESLA REPAID THE GOVERNMENT-- NINE YEARS AHEAD OF SCHEDULE

Posted by Industry News on May 22, 2013

Tesla Motors announced on Wednesday that the company had paid off the $456 million loan from the Department of Energy nine years ahead of schedule. The loan was awarded in 2010 as part of the Advanced Technology Vehicle Manufacturing Program, which was signed into law under the Bush administration. In their press release, Tesla pointed out that it is the only car company to pay back this loan so far. The press release quotes CEO Elon Musk:

“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,” said Elon Musk. “I hope we did you proud.”
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