Tesla's Elon Musk Vows to Pay Off $465M Government Loan Within Five Years
February 28, 2013 8:53 AM
comment(s) - last by
jack daniels e..
Musk only needs half the time given to pay loan
Electric vehicle maker Tesla received a loan from the U.S. Department of Energy to the tune of $465 million. The automaker has until the end of the decade pay off the loan, but CEO Elon Musk believes that Tesla will be able to pay off the entire loan in half the time.
The loan was granted to Tesla under the Advanced Technology Vehicles Manufacturing loan program and allowed the automaker to
retool an automotive manufacturing plant in California
. Tesla uses that plant to produce the
Model S electric vehicle
, and has recently stated that it will be able to produce 20,000 of the sedans during 2013.
President Obama and Elon Musk
Despite seeing a significant increase in revenue, the automaker lost nearly $90 million during the last quarter and lost approximately $400 million during all of 2012. This news
sent Tesla shares downward last week
Musk also got personally involved in a
dustup with the
New York Times
over what he saw as an unfair and dishonest review of the Model S. According to Musk, the
bad publicity cost the company $100 million
This article is over a month old, voting and posting comments is disabled
RE: Great photo
2/28/2013 12:24:57 PM
What's like on your planet, where there are absolutely no other people?
Or perhaps you live on Earth as part of a human society, where, whether you like it or not, you are dependent on other members of society for pretty much everything you have. You presence on this forum is a clear proof that you are already part of the "collective". So analyse the reality of your situation more rigorously. It is not a matter of black shirts and red flags and the "free market" is a myth.
RE: Great photo
2/28/2013 1:43:18 PM
free market is a myth
Yeah, the Great Depression killed it for good in 1929, and good riddance! Reclaimer is too dumb to understand that tho...
"I'd be pissed too, but you didn't have to go all Minority Report on his ass!" -- Jon Stewart on police raiding Gizmodo editor Jason Chen's home
Tesla to be Profitable in Q1, Investors Send Shares Down
February 21, 2013, 1:24 PM
NYT Reporter Responds to Tesla's Accusations About Model S Article
February 15, 2013, 7:20 AM
Checkmate: Tesla's Elon Musk Provides Driving Logs from NYT's "Peculiar" Model S Trip
February 14, 2013, 12:41 PM
Toyota Invests $50M into Tesla Motors, Pair to Develop and Produce Electric Vehicles at NUMMI Plant
May 20, 2010, 9:31 PM
Quick Note: GM Teases Next Generation Chevrolet Volt
November 20, 2014, 3:26 PM
Audi is Latest to Step Into the Hydrogen Game, Delivers A7 Sportback h-tron quattro
November 19, 2014, 1:41 PM
Toyota’s Mirai Hydrogen Fuel Cell Vehicle Priced from $57,500 in the U.S.
November 18, 2014, 10:23 AM
Honda Still Pushing Hydrogen, Introduces FCV Fuel Cell Concept
November 17, 2014, 8:27 AM
Ford Enlists Wind Energy Corp. to Provide Wind, Solar Energy to Four U.S. Dealerships
November 10, 2014, 10:58 AM
AutoNation CEO Calls Slams Michigan’s “Anti-Tesla Bill”, Chides Elon Musk
November 7, 2014, 6:52 PM
Most Popular Articles
Wal-Mart: Miss Thanksgiving, Get Xbox One + Master Chief Collection for $299
November 17, 2014, 9:40 PM
Nokia Lumia 635 LTE Windows Phone is Only $40 at Best Buy on Black Friday
November 18, 2014, 11:59 AM
Sweden Mulls Labelling "Sexist" Video Games in the Wake of Gamergate
November 17, 2014, 2:00 PM
It's Official: Twitter is Profitable "Junk"
November 16, 2014, 10:45 PM
Austrian Pilots Call Surface 3 Pro Flight Bag a "Dream Come True"
November 14, 2014, 2:00 PM
Latest Blog Posts
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information