Loan repayment makes Tesla the only car company to repay its US government loan

Tesla has paid off its entire government loan of £309.4 million to the US Department of Energy, nine years earlier than expected.

The loan, awarded in 2010 as part of the Advanced Technology Vehicle Manufacturing Program, required Tesla to match the loan value with private capital.

The repayment makes Tesla the only American car company to have paid back its government loan. The manufacturer says its loan is often confused with the financial bailouts awarded to GM and Chrysler, themselves ineligible for the Advanced Technology Vehicle Manufacturing Programme because a stipulation of the loan was proof of financial health.

Tesla's chief executive offer and co-founder Elon Musk said: "I would like to thank the Department of Energy and the members of Congress and their staffs who worked hard to create the ATVM program, and particularly the American tax payer from whom these funds originate.

“I hope we did you proud.”

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11

23 May 2013

It would be interesting to do a case study comparison of Tesla (which seems to be on the path to profitable stability) against Fisker (which is rapidly going down the gurgler). Two innovative electric cars but one got it so right and one got it so wrong.

 

 

24 May 2013

How, if I may ask, was Fisker an "innovative electric car"? It was, sorry to say, a hybrid/range-extender, or to put it less charitably it was a car that had both a rubbish engine (some GM 2.0 generic blancmange) and a rubbish electric motor. Yes it was pretty, but the engine looked underwhelming under the swoopy bonnet and the battery pack and motor took up all the space in the boot! I saw one at the Paris Show a couple of years ago and it was cramped inside as well. The Model S is an electric car, in that it is solely powered by electric. And it's roomy with 2 big boots. Yes it has its faults but for the love of god let's not lump it in with the Fisker, a car; let us remember, that is endorsed by Leonardo di Caprio, the biggest bandwagon jumper in Christendom. 

23 May 2013

Probably because Tesla, now has an agreement / investment from Toyota. Cash cow.

www.KOOOLcr.com

 

23 May 2013

It was sleek enough that I did a double take and asked myself what's that?  Then I recognised it.  Sexy in the flesh though not best in white.

23 May 2013

I see if your subject line is too long it cuts off at the beginning. 

23 May 2013

The thing I don't understand about this is that the Tesla is rubbish and the Fisker actually quite good, if you believe Top Gear anyway which the High Court does seeing as they ruled in favour of Top Gear when Tesla sued.

24 May 2013

Consumer Reports, a non-profit publication that doesn't accept advertising to insure inpartiality, says it's the best car they have ever tested in they're 75 year history.  Top Gear is good fun, but we shouldn't take anything they say too seriously.  The High Court just thought the BBC wasn't liable for what was said on the show... they didn't re-test the car and concur.

The Tesla Model S (not the roadster tested by Top Gear) is the only true innovation the car industry has seen in decades.  The good news is that it will be available in europe next year.

24 May 2013

One needs to get one's information from varying, well rounded sources. Relying on Autocar and old episodes of Top Gear has left you poorly informed. While lovely to look at, the Fisker Karma has been a disaster, rushed to market long before it was thoroughly developed. It reviewed fairly poorly here in the states as well. The launch was disasterous, and Valmet has not produced a Fisker since September of last year. 

Tesla's Model S is VASTLY superior in every objective category, with the exception of driving range. Reviews have been glowing, from both the press and owners. The awards just keep coming...

Tesla is coming to the EU very soon, and I have no doubt in my mind that it will succeed. You may never see a Fisker on the road, but Tesla will be quite visible. And labeling Tesla "rubbish" will rightfully be a thing of the past. 

 

 

24 May 2013

Read what you have written, and then actually think about it. Top Gear and Tesla went to court about Roadster, and even though Top Gear won, that doesn' t make the Tesla "rubbish".... Clarkson actually said he liked it! The argument was about range and test track driving. Plus, this thread is about the Model S. Keep up Hamilton! : ) Read my comments above if you want to know the difference between Fisker and Tesla, by the way.. it's really quite simple. 

23 May 2013

I wish Tesla made hybrids or range extenders.

Never seen a better blend of looks, performance, efficiency and technology and did not see that coming from America either.

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