- The co-founder of Tesla Motors set another milestone for his electric car company today by making a final $451.8 million payment on the $465 million loan from the U.S. government — nine years earlier than scheduled. The massive payment came courtesy of a stock offering last week that raised $1 billion for the California automaker, made possible after it revealed its first quarterly profit. The move makes Tesla the only automaker to have paid back its Department of Energy loan in full — yet another talking point for Musk's EV drive.
As much as I like the concept of electric cars, they're not very 'green' if the local power source is coal, which is a higher polluter than oil
There are a number of reasons that petroleum based cars are less than ideal that have nothing to do with pollution. Without the worlds reliance on petroleum, faux wars for the spreading of "democracy" in the mid-east would no longer be of interest. Also, hopefully coal will become a thing of the past too.
The more I learn about Tesla Motors and Elon Musk, the more I'm excited for the future and what technology they can bring. Elon Musk sounds like a truly nice guy who has a bright vision for the future. His "Hyperloop" almost sounds too good to be true, but knowing him, I think they'll be able to deliver.
I agree, Musk is the kind of uber-wealthy fella we need. What a great example to set for kids too, hopefully there are children out there that will see that through intellect, creativity and risk taking great things can be achieved. I try to keep track of his endeavors closely. I'm late to the game, but I'd like to get some Tesla stock as I think they will see huge growth