backtop


Print 68 comment(s) - last by jack daniels e.. on Mar 2 at 2:25 PM

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



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Great photo
By SPOOFE on 2/28/2013 5:15:29 PM , Rating: 2
quote:
would you EVER give a DIME to some obscure mathematician from Harvard doing some voodoo equations and distributed Matlab magic that will be a foundation of a new space drive in 2128 or so?

If he set up one hell of a Kickstarter, yup.


RE: Great photo
By Pirks on 2/28/2013 6:16:51 PM , Rating: 2
He can't set up Kickstarter because he can not predict the future, otherwise he may realize it's some other mathematician who should Kickstart his thing because it's this other mathematician's formulas that will shape the future. In other words, if you can't see the future, you don't know if it's your fundamental research that's going to reshape the planet or is it someone else's. So what's the point in Kickstarting it if maybe you're wrong and the other mathematician should Kickstart it for his more relevant stuff, not you?


"There's no chance that the iPhone is going to get any significant market share. No chance." -- Microsoft CEO Steve Ballmer














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki