Here’s What Elon Musk Tweeted About Tesla’s Loan On Monday
There’s no place like Twitter to make an announcement … at least Elon Musk, Chief Executive of Tesla Motors Inc (NASDAQ:TSLA) thinks so. He used the 160-characters-or-less social media platform Monday to state that the automaker may repay its loan from the U.S. Department of Energy as early as Wednesday.
Musk’s tweet read: “Given govt loan repayment this week (prob Wed), Supercharger update will be next week.” We have to hand it to Musk, the billionaire who owns 27.5 percent of Tesla. He’s nothing if not efficient.
Following a near-perfect score from Consumer Reports magazine, Tesla continues to be full of good news. A Tesla spokeswoman later corroborated Musk’s tweet, confirming that the automaker was referring to the full repayment of the DOE loan, which was extended to Tesla in June 2009. The loan was purposed to “cover the cost of engineering and building the Model S electric car, which starts at $70,000 before a federal tax credit.”
Last week, Tesla said it would use its money from a bond and stock offering to repay the balance of the loan with interest. It didn’t mention how soon, but Musk’s tweet helped illuminate the details.
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