Tesla Motors announced this week the first Model S electric vehicles will be delivered in June, one month ahead of its initial release date. Another recent announcement is that Tesla will start repaying the $465 million loan to the Energy Department this year in December.
The half-billion loan Tesla got in 2009 was part of the Advanced Technology Vehicle Manufacturing program that Obama administration created to encourage the creation of jobs and hybrid or electric vehicles. Fisker, Ford and Nissan also awarded loans under the ATVM program.
Tesla Motors reported to have $104.5 million left as of March 31 of the loan, and to spend the remaining money by July.
Deepak Ahuja, the Tesla Chief Financial Officer, said recently:
“We are delivering on the milestones, what we’ve committed to. Once we are delivering customer cars, then that signifies completion of the project.”
Tesla used its loans to renovate and equip a factory in Fremont, California, that shut down in early 2010 after serving as a joint-venture plant for Toyota and General Motors for 25 years. Federal funds also were used for electric 
