Tesla Repays Government Loan
Electric carmaker Tesla Motors has repaid in full a U.S. Department of Energy loan, according to the Palo Alto, Calif.-based company.
Tesla said the $451.8 million wired today represented the balance, plus interest, of a $465 million loan awarded in 2010 under the DOE's Advanced Technology Vehicle Manufacturing Program. The program, which launched under President George W. Bush in 2007, has also benefited plug-in-vehicle development at Fisker Automotive, Ford Motor Co. and Nissan Motor Co. Tesla is the first company to repay its loan, with nine years to spare.


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