It was announced today that Tesla Motors has paid off it’s government loan in full. “Tesla Motors, just cut the government a $451.8 million check, which means that Tesla has paid off its entire Department of Energy loan plus interest. “Following this payment, Tesla (TSLA) will be the only American car company to have fully repaid the government,” the company boasted (emphasis Tesla’s).”
It was also recently announced that they made a profit. “The loan repayment follows a number of recent announcements from Musk, including Tesla’s first-ever profit, a higher-than-expected sales forecast, a $1 billion fund raising round, and its Model S sedan earning the highest auto test ratings ever from Consumer Reports.” The BloombergBusinessweek article is here.
With a starting price of $62,400 after a $7,500 Federal Tax Credit I don’t think I will be buying one anytime soon. But it shows that an electric cars are coming. Pricing can be found here.