Mexican Media Brands
Tesla Vows to Repay DOE Loan Five Years Early
Electric car maker Tesla Motors Inc. plans to bay back its $465 million loan from the U.S.
#hybrid
Share
Electric car maker Tesla Motors Inc. plans to bay back its $465 million loan from the U.S. Dept. of Energy within five years, according to CEO Elon Musk.
The full amount isn't due until 2022. Tesla made its first payment on the loan in December. Musk predicts the company will make its first profit in the current quarter.
Tesla received the low-cost financing in 2009 under the DOE's $25 billion program to foster development of technologies for cleaner, more efficient vehicles.
RELATED CONTENT
-
About the 2020 Lincoln Aviator
Successful vehicles tend to be those that are available on a global basis, and increasingly, those vehicles tend to be in the SUV segment writ large.
-
Tesla Owners in Germany Ordered to Return Subsidy
Germany has ordered about 800 Tesla Model S electric cars owners to pay back a €4,000 ($4,700) government subsidy they received.
-
GAC, CATL Partner on Two Battery Ventures
Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.