Tesla Motors Inc., the electric-car company led by Elon Musk, is using the last of its $465 million in US loans and plans to start repaying them by the end of the year, the first start-up to fulfill requirements of the criticized program.
The maker of Roadster sports cars had $104.5 million left as of March 31 of the Energy Department loans awarded in June 2009, Tesla said in a regulatory filing.
The remaining funds will be used in the third quarter, with repayments to begin in December, CFO Deepak Ahuja said.
Tesla Motors Inc., Elon Musk, the Energy Department loans, Deepak Ahuja
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