DETROIT (Reuters) -- Tesla Motors Inc. may repay its U.S. Department of Energy loan as early as Wednesday, CEO Elon Musk said in a message on Twitter on Monday.
Musk, a billionaire who owns 27.5 percent of Tesla, added that the company would move another announcement about its charging station network to next week.
"Given govt loan repayment this week (prob Wed), Supercharger update will be next week," Musk said in his post.
A Tesla spokeswoman confirmed that Musk was referring to the full repayment of the DOE loan. Last week, Tesla said it would use $452.4 million from a bond and stock offering to repay the balance of the loan with interest.
The loan was extended to Tesla in June 2009 to cover the cost of engineering and building the Model S electric car, which starts at $70,000 before a federal tax credit.
The Model S recently received a near-perfect score from Consumer Reports magazine, part of a series of upbeat news for the 10-year-old company.
Paying the loan off nine years ahead of the original deadline of December 2022 sets Tesla apart from Fisker Automotive Inc., which failed in a similar bid to profit from rechargeable autos, as well as large carmakers that aren’t under pressure to reimburse the Energy Department.
The standard repayment schedule for Ford Motor Co.’s $5.9 billion loan and Nissan Motor Co.’s $1.4 billion loan is 10 years. Fisker missed a loan payment and is at risk of bankruptcy after halting output last year and terminating most of its staff last month.
Tesla completed drawing down its loan funds as of Aug. 31, 2012, and has already made payments on the Energy Department loan of at least $25 million, based on company filings. As a result, taxpayers may see at least a $12 million profit.
Tesla fell 1.7 percent to $89.94 at the close in New York. The shares have risen 166 percent this year, topping the 17 percent gain for the Russell 1000 Index.
Bloomberg contributed to this report.