Tesla was approved to receive US$465 million in interest-bearing loans from the United States Department of Energy.

Tesla was approved to receive US$465 million in interest-bearing loans from the United States Department of Energy (DOE) as part of a federal initiative to promote advanced technology vehicles. This funding, granted under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program in 2010, was a major milestone in Tesla’s journey toward becoming a global leader in electric vehicles. The loan enabled Tesla to develop and produce the Model S sedan—its first mass-market vehicle—at its Fremont, California factory, helping establish the brand’s reputation for innovation and high-performance electric mobility. The DOE loan played a crucial role in boosting investor confidence and accelerating the commercialization of electric vehicles in the U.S. Notably, Tesla repaid the full loan—along with interest—by May 2013, nine years ahead of schedule. This made Tesla the first automaker to fully repay a loan received through the ATVM program. The successful use of public funds for private innovation in this case is often cited as a key example of effective government support for clean energy initiatives. #MomentsOfLife #MoofLife_Moment #MoofLife #Tesla #ElectricVehicles #CleanEnergy #GreenTechnology #InnovationLeadership #SustainableFuture