Tesla (TSLA) CEO Musk Plans to Pay Back DoE Loan in Half of Allotted Time
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If there's one thing Tesla Motors (Nasdaq: TSLA) CEO Elon Musk likes, it's a challenge. If there's two things, then that list also includes Bold Chex Mix.
According to comments made at the Department of Energy’s ARPA-E Summit today, Musk plans to take just five years in repaying a $465 million Department of Energy loan, instead of the 10 that Tesla was allotted. Musk said that if the DoE is criticized for failures like Solyndra, it should be praised for successes like Tesla.
Tesla made its initial $12.7 million payment to the DoE in Q412. The second payment is expected in March 2013.
Musk recently commented that Tesla should be profitable in Q113 on an adjusted basis.
Shares of Tesla are down about 0.6 percent Tuesday?
According to comments made at the Department of Energy’s ARPA-E Summit today, Musk plans to take just five years in repaying a $465 million Department of Energy loan, instead of the 10 that Tesla was allotted. Musk said that if the DoE is criticized for failures like Solyndra, it should be praised for successes like Tesla.
Tesla made its initial $12.7 million payment to the DoE in Q412. The second payment is expected in March 2013.
Musk recently commented that Tesla should be profitable in Q113 on an adjusted basis.
Shares of Tesla are down about 0.6 percent Tuesday?
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