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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.

Source: Technology Review

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RE: Great photo
By Solandri on 2/28/2013 4:40:10 PM , Rating: 2
See, government pretty much knows where to invest money. It's the government who invests money in fundamental science which drives all the planet. It's the government, not you or any other Reclaimer style redneck, who gave large sums of money to scientists developing foundations for modern fusion plasma physics, ITER, semiconductors, UV lithography, GPS and everything else you rednecks take for granted.

Actually, corporate R&D spending exceeds government R&D spending by more than 2:1.

I don't get what the big deal is. There is certain research (primarily industry-specific) which is better conducted by companies in the business. Some of it is beneficial to general research, like gains in DNA sequencing speed due to wanting to sell equipment which sequences faster. There is other research (primarily those with no immediate industrial applications) which is better conducted by government. And some of it is beneficial to industry-specific research.

IMHO any plan which calls for elimination of either government research or corporate research, is foolish and based solely on ideology rather than common sense.

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