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Tesla: So Far, An Electric Vehicle Success Story

The Chevy Volt had its problems with battery fires, electric vehicle (EV) technology company A123 Systems unloaded its automotive business line to Johnson Controls in Obtober, and EV maker CODA just declared bankruptcy.

Good news from the EV sector is often in short supply, unfortunately.

However, a positive development came from Tesla Motors Inc. this week, with the company announcing that it has paid off its debt to the federal government, which initially came in the form of a $465 million loan from the U.S. Department of Energy in January 2010.

That loan was a part of the DOE’s Advanced Technology Vehicle Manufacturing (ATVM) program. Tesla says it is the “only American car company to have fully repaid the government.”


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