A Tesla $465 million loan payment is making top news headlines here in the U.S. this week, as Autos Yahoo News reported this Wednesday, May 22, that a co-founder of Tesla Motors, Elon Musk, helped set a major milestone for the electric car company this morning.
The Tesla $465 million story came about after it was confirmed that Tesla Motors successfully made its last payment — of roughly $452 million — on the multi-million dollar loan it received from the federal government. What’s more amazing is that this incredible loan payment was completed nearly a decade ahead of schedule (at no less than nine years).
According to CNN Money last week, it was expected that Elon Musk and the Tesla $465 million payment for the electric car company could be made earlier than anticipated, but certainly not this soon. The ability to make such a tremendous financial payment seems to have come from a stock offering for the automaker that raised a total of nearly $1 billion.
While the national Department of Energy program is often faced with bad news, Tesla Motors strikes a positive chord with the American public this week, as Tesla is now the only recent car company to have fully paid back its monetary loan to the Department of Energy, particularly one of $465 million.
“I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate,” said the co-founder. “I hope we did you proud.” For the latest top news stories, you can follow Ryan via Fa
The Tesla $465 million story came about after it was confirmed that Tesla Motors successfully made its last payment — of roughly $452 million — on the multi-million dollar loan it received from the federal government. What’s more amazing is that this incredible loan payment was completed nearly a decade ahead of schedule (at no less than nine years).
According to CNN Money last week, it was expected that Elon Musk and the Tesla $465 million payment for the electric car company could be made earlier than anticipated, but certainly not this soon. The ability to make such a tremendous financial payment seems to have come from a stock offering for the automaker that raised a total of nearly $1 billion.
While the national Department of Energy program is often faced with bad news, Tesla Motors strikes a positive chord with the American public this week, as Tesla is now the only recent car company to have fully paid back its monetary loan to the Department of Energy, particularly one of $465 million.
“I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate,” said the co-founder. “I hope we did you proud.” For the latest top news stories, you can follow Ryan via Fa