Tesla Motors Inc (NASDAQ:TSLA) Loan May Be Repaid Soon

Tesla Motors Inc (NASDAQ:TSLA) Loan May Be Repaid Soon

Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk revealed through a Twitter message that the loan of the company may be able to repay its loan from the US Department of Energy by Wednesday.

Musk also revealed that it will make another announcement about the charging station network of the company to next week. Musk owns around 27.5 percent of the company.

According to Musk, since the loan repayment is set to be made within the week, the company has moved the Supercharger update in the coming week.

The statement of Musk was confirmed by a spokeswoman of Tesla Motors Inc (NASDAQ:TSLA). She indicated that the statement referred to the full payment of the loan from the DOE. The company revealed last week that it will pay for the balance of the loan together with the interest using around $450 million that will come from a bond and stock offering.

The company received the loan in June 2009. It was used to cover the expenses in connection to the engineering and manufacture of the Tesla Model S vehicle. The vehicle has a price tag of around $70,000, without federal tax credit.

The Tesla Model was given a near-perfect rating by the Consumer Reports Magazine recently, which was one of the positive news that Tesla Motors Inc (NASDAQ:TSLA) received recently.

Posted by James Fried on Tuesday May 21 2013, 9:56 AM EST. Ref: Reuters. Link. All trademarks acknowledged. Filed under Featured News, Finance. Comments and Trackbacks closed. Follow responses: RSS 2.0