Tesla First to Repay Obama Electric-Car Loan After Failures
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Tesla Motors Inc., labeled a “loser” by Mitt Romney during the U.S. election, repaid its taxpayer-supported loan, giving President Barack Obama’s green-energy strategy a win after almost two years of failures pounced upon by Republicans.
The maker of the plug-in Model S sedan became the first recipient of a U.S. Energy Department vehicle loan to pay off its debt, the Palo Alto, California-based company said today in a U.S. regulatory filing.