Friday, May 24, 2013

Tesla Repays Loan: Nearly $500 Million

Electric car-maker Tesla Motors wired almost half a billion dollars to the U.S. government on Wednesday, erasing the remaining balance on its 2010 taxpayer loan and sidestepping a continuing controversy over the Obama Administration’s support for a handful of companies pursuing green-car development.  By paying off the loan nine years ahead of schedule, Tesla becomes the only American car company to have fully repaid the federal government under the Department of Energy‘s Advanced Technology Vehicle Manufacturing program.

Click here to read full article, courtesy of forbes.com