Tesla Repays $450M Loan Nine Years Early

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In a day and age when companies are defaulting on government loans left and right, it is nice to see something like this.

With a wire transfer of $451.8 million, Elon Musk has finally made good on his promise to repay the hefty loan Tesla received from the Department of Energy well ahead of its 2022 due date, beating even Musk's own five-year estimate.
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And meanwhile, the big boys who sell millions of cars every year...are making token payments, or better yet, defaulting on their loans, and let's not forget the ever popular moving even more factories overseas. :(
They should weep in shame, but why give a rat's ass when you're too big to fail amiright? :rolleyes:
 
Just went to look at Tesla's website to look. They have a deposit of 2.5k to order. That says, fully refundable. Then if you press the order button, it says not refundable. So which is it?!

http://www.teslamotors.com/models/design
https://www.teslamotors.com/order

I do want one though. And good to Tesla, especially since they actually repay their debts, which I'm almost certain the other companies won't even bother, and will continue to pay themselves out in huge bonuses.
 
Something good then? Glad to hear tax payers didn't have to cover another Obama blunder!
 
I actually saw a Tesla (possibly two) up in my neck of the woods...totally random, I don't live in a major city.
 
Nobified[H];1039901651 said:
Something good then? Glad to hear tax payers didn't have to cover another Obama blunder!
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"The Department of Energy loan program was created in 2007 during the George Bush administration in order to get more fuel-efficient vehicle options to U.S. consumers and to decrease the country's dependence on foreign oil."
 
People, stop putting blame. It's just corrupt bastards from both sides of the aisle. (Though, it might be splitting to 3 sides now)

Started by Bush? continued by Obama. So they both suck. There!

Sucks for North Carolina though. Unfair... pssh, what a load of crock.
 
Elon must have had this planned out six months ago, mainly those Twitter announcements, and congratulations too. I wonder what Elon really has in mind for SpaceX.
 
Nice, someone already posted the inevitable "Thanks Obama!". Guess we can close the thread now.
 
Nobified[H];1039901651 said:
Something good then? Glad to hear tax payers didn't have to cover another Obama blunder!
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HA!!! Probably popping champagne bottles equal to the cost of the payback in the WH for this one.
 
Title is misleading, it should of said, "Tesla to pay off $465M in federal loans 9 years in advance"
 
Awesome to see an American company get into the black. Keep up the good work, Tesla Moters. :)
 
Ski said:
Title is misleading, it should of said, "Tesla to pay off $465M in federal loans 9 years in advance"
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Huh? The article says Tesla made a wire transfer to the Dept of Energy for 451.8M

As in they paid it off. Your version of title is even more misleading...
 
I see a lot of Teslas here in Northern Virginia (relatively speaking). I live in the 2nd richest county in the country though, so seeing expensive cars is normal here. I just hope this leads to a more affordable version for the mass market in the next few years.
 
AlmostEvil said:
"The Department of Energy loan program was created in 2007 during the George Bush administration in order to get more fuel-efficient vehicle options to U.S. consumers and to decrease the country's dependence on foreign oil."
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C'mon man, looking up facts takes reasoning, intelligence, and logic! Obviously not the strong suit of the Obama trolls.
 
There is a serious problem with people when everything has to instantly become radical political commentary. Everything. I admit I just made a joke in my above post, but I truly believe the internet spam is an amazing example of the failure of the United States education system. No longer can we have a debate without extremes. Take a look in the mirror tonight and ask why half the posts were negative in the forum for an American success story. A company that was on its last legs just a few years back has completely turned it around and is looking to be a powerhouse in automobile manufacturing moving forward. Let's praise Tesla and not vomit our personal agendas eh?
 
I see a lot of Teslas where I live. Spoke to someone who test drove one and couldn't say enough good things about the drive. As a sidenote his Dad lives on the same street as Musk.

The son is completely crazy about the new electric vehicles. So I had to ask what he thought about now depending on China for the rare earth metals to make the batteries.

To go back on topic, its nice to see a company doing well unlike what happened with Fisker.
 
You know teh int3rn3t was funded by the government.

Ever heard of DARPA? If its not a success its the gov disaster if its a success no one mentions it.

Do you guys even know how MUCH is funded by Governments? Thank God this stupidity hasn't migrated north of you.
 
haste. said:
There is a serious problem with people when everything has to instantly become radical political commentary. Everything. I admit I just made a joke in my above post, but I truly believe the internet spam is an amazing example of the failure of the United States education system. No longer can we have a debate without extremes. Take a look in the mirror tonight and ask why half the posts were negative in the forum for an American success story. A company that was on its last legs just a few years back has completely turned it around and is looking to be a powerhouse in automobile manufacturing moving forward. Let's praise Tesla and not vomit our personal agendas eh?
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Its another outlet for them to release their emo rage. Its the same thing with how everything sucks, isn't innovative or doesn't automatically put $10 in your pocket. The internet is such a free place to vomit pure insanity out and achieve nothing.

Comments sections are still considered the toxic waste of the internet.

Oh and I'm very happy for Tesla, I know a guy who works there and everytime I ask him how hes doing/hows his work, he blows up with everything Tesla related. He truly loves working for them.

Wish I had his excitement.
 
mynamehere said:
And meanwhile, the big boys who sell millions of cars every year...are making token payments, or better yet, defaulting on their loans, and let's not forget the ever popular moving even more factories overseas. :(
They should weep in shame, but why give a rat's ass when you're too big to fail amiright? :rolleyes:
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Who is moving factories overseas? I love how people on the internet just regurgitate crap they hear on the street.

Auto factories are moved overseas for international supply. For vehicles sold here in the US, you will see factories moved to Mexico- not overseas. This has to do with several factors, including- Mexico is the world leader in free trade agreements (I believe 44 right now), the Mexican government literally gives money to these companies and provides training for employees, and lastly, labor costs (debatable, when we think of labor costs as a function of productivity, rather than simply a fixed/variable cost).
 
Good for him. I was very skeptical of TM but they've made good on their loan from us Tax Payers so that's always good news.

I'm much more concerned however with his SpaceX ventures and how NASA is getting ass raped by Congress with cuts. It would be a crying shame to see the Dragon capsule get delayed because of a bunch of morons on the hill.
 
ounumen said:
Wish that douche bags would remember they were voted on by DEMOCRATS as well. Oh that's right Bush is an idiot and lied to them so that makes them the dumbest fucks on the earth as well. ;)
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No argument from here. R's and D's are both bought and paid for by corporate Amerika.
 
Holy crap, keep your political BS where they belong.

On topic:
Good for them, I guess the sudden rise in the stock price helped a lot.
 
Good for them and for us! I hope they come down in price to the point where it isn't a super car price. They do look cool though! I'm still skeptical about the whole touch screen everything but in terms of performance on the road, it sure kicks ass.
 
Why does someone with a net worth of $2.7 billion need a loan from the state?
 
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