The electric-car maker received the loan from the Department of Energy in January 2010, and it made its first payment this past December. That began what was supposed to be a 10-year repayment program, but plans have changed.
Tesla (TSLA) reported its first quarterly profit earlier this month, and Consumer Reports came out with a review calling the Tesla Model S the best car it ever tested. Those two facts, along with a significant short squeeze, helped send the stock soaring to record highs.
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Tesla announced last week that it would sell additional shares of stock, and that founder Elon Musk would make a new $100 million investment as well. The company said it would use some of the proceeds to repay the loan this week.
"I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the [loan] program, and particularly the American taxpayer from whom these funds originate," Tesla co-founder and CEO Elon Musk said in a statement. "I hope we did you proud."