Tesla repays the loan received from the government

Posted on Thursday, 23 May 2013 , 06:05:49 byIulia

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Tesla repays the loan received from the government

Apparently Tesla Motors has repaid the loan received from the US Energy Department completely. Last year, the company has also paid part of the money and the last part was paid in the first quarter of this year. as it turn out, in a press statement, the EV manufacturer declared that there are the only car company to date to have fully repair the US government and also the only American car company. Tesla Motors received $465 million from the State and it managed to repay the loan nine years ahead of schedule. This move actually saved taxpayers at least $12 million. Tesla Motors CEO Elon Musk declared in a Twitter message that the company might repay the Energy Department loan as soon a today. In the same time, the $12 million taxpayers obtained will not be enough to offset losses of as much as $217 million on loans to Fisker and Vehicle Production Group that develops vans. Tesla said that the loan payment was made using part of the $1 billion in funds raised last week from common stock and convertible senior notes. Mr. Musk wanted to thank officially to the Department of Energy and to the members of Congress, but also the all taxpayers as the money came from them. Tesla Motors also hopes that with their actions and previous strategies and models have managed to make everyone proud. This news came at the right time because for example, battery supplier A123 Systems and solar-panel maker Solyndra filed for bankruptcy. Fisker also has problems and has stopped making cars because of the A123 Systems that has stopped making the batteries. We are not sure if you remember, but in the lat US presidential campaign, Mitt Romney and Paul Ryan referred to Tesla, Fisker and Solyndra as losers, but the story is not all true.


Tesla repays the loan received from the government image Tesla repays the loan received from the government image
Tesla repays the loan received from the government image Tesla repays the loan received from the government image
Tesla repays the loan received from the government image