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 Reclaimer77 on 2/28/2013 6:17:16 PM , Rating: 2
quote:
See, government pretty much knows where to invest money.


AHAHAHAHA!!!!!!!!!!


RE: Great photo
By Pirks on 2/28/13, Rating: 0
RE: Great photo
By Reclaimer77 on 2/28/2013 7:24:11 PM , Rating: 2
I wish I was illiterate, then I wouldn't be able to read your retarded garbage Pirks.

p.s. if you're going to insult someone, try and have it actually make sense. Clearly I can read.


RE: Great photo
By Pirks on 2/28/13, Rating: 0
"Well, we didn't have anyone in line that got shot waiting for our system." -- Nintendo of America Vice President Perrin Kaplan














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