31 Jul '12, 2pm

Tesla might start repaying federal loan early, still has $33m to draw

Alongside the positive news in the recent shareholder call that Tesla Motors held recently, there is this bit of news that will help us understand the company's financial picture: the company confirmed that the first Advanced Technology Vehicle Manufacturing program loan payment is due in December and hinted the first payment might come early. The company previously announced the December due date in May. Over on the Tesla Motors Club forum , one member noted that, "The DOE loan agreement was amended to require Tesla to set up a restricted cash account for the first three repayment installments. Those amounts are shown on the balance sheet. During the conference call, Elon intimated that he might make the first installment that is due in December early." Tesla would not give out an official statement on the matter, but you can listen to Tesla CEO Elon Musk and CFO Deepak A...

Full article: http://green.autoblog.com/2012/07/31/tesla-might-start-re...

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