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Tesla CEO Optimistic, Repays Loan Early

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Tesla Roadster

Tesla Roadster

The CEO of Tesla Motors, Elon Musk, announced this week that the company is not only financially healthy, expecting positive cash flow by the end of the year, but will begin repaying its government loan obligations earlier than planned. The U.S. Dept. of Energy requested an early repay plan and the automaker readily agreed, having set the formalities to paper just this week. In June of 2009, Tesla received $465 million as part of the government’s Advanced Technology Vehicle Manufacturing program.

Tesla: Video

Meanwhile, back at the track: Just another day on the oval for a screaming-yellow Tesla Roadster Sport, driven by a non-professional at some harrowing speeds. The video below actually features a passenger’s view of the trip, but due to the speed and perspective, you will easily get the feeling that you are along for the ride. With virtually no narration, we simply see the car prep for the run, do the lap, and recharge at the end. Now that electric cars are no longer oddities, it’s fun to look back at the first electric sports car ever made, and see it in high-speed action.

Tesla: The Future

Just last month, Tesla Motors released more stock in a successful effort to raise additional funds. Amid recent political news that some of the nation’s start-up automakers are struggling, it appears that Tesla is looking to defuse that sort of talk with quick setup of the repayment plan and release of the new stock. Though the rollout of the company’s Model S went a bit slower than anticipated, Tesla shows no signs of slowing down. Musk was quoted discussing the stock issue: “We raised the funds simply for risk reduction.”

For all the latest news about Tesla electric cars, plus some of the best photos on the net, see the company’s official corporate website:
http://www.teslamotors.com

Larry Bell writes about cars, gadgets, business, and history. He has been a professional writer and editor for over 20 years and enjoys all car-related topics, especially electric and hybrid vehicle news. Larry covers the auto industry for MPA and often reports live from the floor of major shows in Detroit, LA, San Francisco, Phoenix, Las Vegas and elsewhere.

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