Tesla Motors to repay $465 million government loan 9 years ahead of schedule

So much for Mitt Romney calling electric car company Tesla Motors a “loser.”

Tesla Motors, famously called a “loser” by Mitt Romney, is on quite the winning streak these days. It seems like there’s good news about the company every week.

After raising about a billion dollars in a new stock and debt offering, Tesla has decided to use about half of its new mountain of cash to repay the $465 million Department of Energy loan all at once, 9 years ahead of schedule, rather than do it in half the required time like it had previously said. The immediate benefit to taxpayers will be $12 million, but the long-term benefit could be massive.

Repaying a nearly half billion dollar loan 9 years early? Sounds like Tesla Motors is far from being a “loser” after all.


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3 thoughts on “Tesla Motors to repay $465 million government loan 9 years ahead of schedule

  1. The meager sales of Tesla Electric cars has, though the value of modern word and picture of mouth…


    …created a breakthrough in this disruptive product not possible before.

    The corporate consortiums in American industries always delay, modify or totally eliminate disruptive products and technologies. e.g. Solar energy, High speed bandwidth, healthcare collaboration, ubiquitous education, etc.

    Eventually the need and the technology become so prevalent, that disruption succeeds. We just need to keep pushing and hang in there.

  2. BUT BUT BUT ! I bet this will be the lead story on hannity and oxyrush. BUWAAA A little punchy today. TO DAMN MUCH GRASS TO CUT !

  3. Cat – Not sure what you mean by “meager” sales, but sales have exceeded their target and the company raised their projection. They are also considering building a second plant in Texas. They turned their profit last quarter, largely because the margin on the Model S exceeds even what Apple gets on their products. Issues with the S now will be fixed quickly, like they are in any other newly launched automobile. As a result, it looks better that they will launch the Model X next year on schedule. Those are all good signs.

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