Electric automaker Tesla Motors just announced that it has paid back the nearly half a billion dollars the Department of Energy lent it in 2010. According to a company press release, today’s wire transfer of $451.8 million dollars follows two other payments in the last year and a half. U.S. taxpayers could see a $12 million profit, in addition to a thriving company employing thousands.
The loan was offered in 2009 through the Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program, which began during the Bush Administration in 2007 and was funded in 2008. The program has resulted in $34.4 billion in loans and the creation of roughly 60,000 jobs.