http://www.teslamotors.com/about/press/releases/tesla-repays-department-energy-loan-nine-years-early
The press release is out ...
The press release is out ...
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Tesla repays department energy loan nine years early
- Thread starter clea
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sp4rk
Banned
Excellent last line. "They did us all proud". And I, for one, am so glad to be along for the journey.
Thanks, DOE; and most importantly ... thank you Elon and everyone at TM for making such a difference!
Talkredius
Member
As a Tesla fan this really makes me happy to see the company repay the debt. Now when someone asks why did the government give the company money to a company who will never repay.. i can say ... It was paid in full, with interest. Good day for sure..
smorgasbord
Active Member
Tesla pays off U.S. loan
http://www.teslamotors.com/about/press/releases/tesla-repays-department-energy-loan-nine-years-early
US taxpayers make $12 million, and thousands of jobs in the US, including design, development, production, factory, sales, support, marketing, plus store construction and rent, etc., etc.
BTW, a big thank you to the shorters for the gift money to pay off the debt!
http://www.teslamotors.com/about/press/releases/tesla-repays-department-energy-loan-nine-years-early
US taxpayers make $12 million, and thousands of jobs in the US, including design, development, production, factory, sales, support, marketing, plus store construction and rent, etc., etc.
BTW, a big thank you to the shorters for the gift money to pay off the debt!
Wow, this is now the #4 top trending story on Yahoo. I know it is big news around here but it seems a bit surprising to be trending that high, or at all. Maybe because Tesla was kicked around politically? Seems more business news then front page news, not complaining, just saying...
jeff_adams
Member
Next time some numskull sprouts off a lame comment to a Telsa story about how they benefited from the government loan, I'm going to remind them that Ford borrowed almost 6 BILLION in the same program and hasn't paid the loan off yet.
lolachampcar
Well-Known Member
A question for all the financially talented types out there....
I was always led to believe that you normally never do something with equity that can be accomplished with debt. How does that apply hear (obviously it did not)?
I was always led to believe that you normally never do something with equity that can be accomplished with debt. How does that apply hear (obviously it did not)?
They mostly issued preferred shares, which are basically a form of debt, not equity (they have no voting rights). It's complicated because they are convertible, which makes them a bit of a hybrid. However, they didn't do a straight secondary like in October, which was raising money purely with equity.
ToddRLockwood
Active Member
Stunning news.
This part of DOE's statement is particularly interesting. Puts things in perspective.
“More than 90 percent of loan loss reserve Congress established remains intact, while losses to date represent about 2 percent of the overall $34 billion portfolio. The other 98 percent of the portfolio includes 19 new clean energy power plants that are adding enough solar, wind and geothermal capacity to power a million homes and displace 7 million metric tons of carbon dioxide every year – roughly equal to taking a million cars off the road."
This part of DOE's statement is particularly interesting. Puts things in perspective.
“More than 90 percent of loan loss reserve Congress established remains intact, while losses to date represent about 2 percent of the overall $34 billion portfolio. The other 98 percent of the portfolio includes 19 new clean energy power plants that are adding enough solar, wind and geothermal capacity to power a million homes and displace 7 million metric tons of carbon dioxide every year – roughly equal to taking a million cars off the road."
anticitizen13.7
Not posting at TMC after 9/17/2018
Fantastic news. I'm just happy that the DOE loan is no longer an issue, because I was getting tired of the whole thing being brought up on news sites all the time. One less thing for the haters to gripe about.
GlennAlanBerry
Member
Yep, one less talking point for the EV bashers (although I bet you will still see people bring it up, since they don't know the loan was paid off).
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