Tesla moves balance sheet into the black, loans into repayment

Elon Musk is a man of means and imagination. Tesla, his high-profile electric car company, announced that it has gone cash flow positive. That's great news for Tesla, Musk and all the company's investors, including the U.S. government. It's also welcome news for the humble electric car.

This news follows the timetable set out by Musk in an early October blog post regarding Tesla's financial standing. That post detailed today's news, as well as the company's loan with the U.S. Department of Energy.

In addition to going cash flow positive, the company has begun early repayment of its $465 million loan from the DoE, and by extension, the loan from you and me. Presumably, all of this new revenue is coming from the recent price increase of the Model S. Either way, Solyndra, this is not.

Via Quartz and Tesla Motors

For the latest tech stories, follow DVICE on Twitter
at @dvice or find us on Facebook