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
-
Startup Readies Solar-Powered EV
Germany’s Sono Motors GmbH says it has received 5,000 orders for its upcoming Sion electric car, which can be partially recharged by it attached solar panels.
-
Frito-Lay, Transportation and the Environment
Addressing greenhouse gas reduction in the snack food supply chain
-
Audi e-tron to Get September Reveal
Audi AG will take the wraps off its first electric vehicle, the all-new e-tron crossover, on Sept. 17 in San Francisco.