Alongside the positive news in the recent shareholder call that Tesla Motors held recently, there is this bit of news that will help us understand the company's financial picture: the company confirmed that the first Advanced Technology Vehicle Manufacturing program loan payment is due in December and hinted the first payment might come early. The company previously announced the December due date in May.
Over on the Tesla Motors Club forum, one member noted that, "The DOE loan agreement was amended to require Tesla to set up a restricted cash account for the first three repayment installments. Those amounts are shown on the balance sheet. During the conference call, Elon intimated that he might make the first installment that is due in December early." Tesla would not give out an official statement on the matter, but you can listen to Tesla CEO Elon Musk and CFO Deepak Ahuja discuss timing and loan repayments here and see the balance sheet here.
Back in 2009, the U.S. Department of Energy approved a $465-million loan to Tesla to build the Model S and work on its all-electric powertrain. As of the end of the second quarter of 2012, Tesla says, it has an "additional $33 million left to draw on our loan facility with the DoE. We drew down $71 million from our DoE loan facility in Q2. Our relationship with the DoE remains strong and we remain on track to draw all remaining funds in the next few months."
Now that the DOE money is coming to an end, Reuters reports, Tesla might try to raise "a small amount of money" to cover things like development of new vehicles, including the Model X and "a smaller sedan code-named Gen III in 2015," the fabled Blue Star.