8 Ways Tesla Is Helping Elon Musk Gloat Away to Glory
2. Repayment of Energy Department Loan
Back in the initial stages of Model S production planning, Elon Musk secured a direct low-interest loan from the U.S. Department of Energy for about $400 million as part of its Advanced Technology Vehicles Manufacturing program. The loan was due to be repaid by 2022, but Musk figured, “Why wait?” Tesla paid back the loan, in full, nine years early, becoming the only American car company to have fully repaid the government.