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Electric Carmaker Tesla Pays Off U.S. Loan

Electric carmaker Tesla Motors Inc (NASDAQ:TSLA) on Wednesday paid off its U.S. Department of Energy loan nine years earlier than required, using money raised last week in a stock and debt offering.The automaker said on Wednesday that it wired $451.8 million to repay the full loan with interest."I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the (Advanced Technology Vehicle Manufacturing) program, and particularly the American taxpayer from whom these funds originate," Tesla Chief Executive Elon Musk said in a statement. "I hope we did you proud."Republicans have criticized the Obama administration's support of new-technology companies, including struggling automaker Fisker Automotive Inc, as well as electric battery maker A123 Systems and solar panel maker Solyndra. Both A123 and Solyndra filed for bankruptcy.DOE officials heralded the Tesla payoff in a press release."When you're talking about cutting-edge clean e...

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