Tesla To Begin Paying Back U.S. Government Loans

William Maley

Editor/Reporter - CheersandGears.com

May 15, 2012

Tesla announced this week they will begin to pay back their loans from the U.S. Government later this year.

Tesla chief financial officer Deepak Ahuja told Bloomberg this week, "We are delivering on the milestones, what we're committed to...once we are delivering customer cars, that signifies completion of the project".

This suggests once Tesla begins delivering the new Model S sedan out to customers, they will begin paying back the Department of Energy loans.

Tesla also announced this week that the first Model S sedans will begin flowing out to customers in June, a month ahead when they originally put it.

“We are pleased that Tesla continues to make progress and look forward to working with them as clean, electric vehicles play an important role in our energy future,” said Damien LaVera, an Energy Department spokesman.

Source: Bloomberg