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Elio Motors Inc’s application for a U.S. Department of Energy Advanced Technology Vehicle Manufacturing (ATVM) loan has passed the first of three phases of review, is now “substantially complete,” and in the “due diligence” phase. The U.S.-based start-up is seeking $185 million in total to accelerate plans to begin production of its enclosed, three-wheeled gas-saving […]

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Tesla Motors announced yesterday, May 22, that it has paid off the entire loan awarded to the company by the Department of Energy in 2010. In addition to payments made in 2012 and Q1 2013, Tesla said May 22′s wire of almost half a billion dollars ($451.8M) repays the full loan facility with interest. According […]

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