Tech

Tesla Paying Its Debt To The USA Early, Penalized

Tesla was penalized for early repayment of $465 million in loan debt to the United States. The CEO of the company, Elon Musk, announced that they made the payment by considering the early repayment penalty due to the government’s sanctions.

Giant electric vehicle manufacturer Tesla, from the United States Department of Energy, for its production activities credit support had received. However, as we are used to under normal conditions, we not reimbursed not for paid early punished for it.

The automaker has extended the $465 million loan from the U.S. Department of Energy from the date specified in the contract. nine years ago paid. The pioneer of the industry, Tesla, by paying the loan debt that must be paid in 2030, “early repayment penalty” took.

Tesla receives ‘early repayment penalty’

elon musk

Elon Musk, CEO of the company, of the loan with the difficult conditions determined by the state lost its value He decided to pay early. Elon Musk’s explanation of the subject; To build Tesla’s 4680 battery manufacturing and recycling facility at the Berlin Gigafactory will not receive government support. He did so via Twitter, on the news from Germany about him.

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The founder of the company, Musk, said, “From a US Department of Energy loan in 2010/2011 our lesson we got it. determined by the US government harsh conditions, of the money received exceeds its value. That’s why we put the loan we got into an early payment penalty. despite we paid so early” made a statement. Elon Musk”We learned our lesson from the US Department of Energy’s credit” because of your words, He also faced the USA in rejecting the funding he would receive from the European Union. bureaucratic problems thought to have an effect.

Source :
https://www.teslarati.com/tesla-doe-loan-early-repayment-penalty-elon-musk/