Tesla announced plans to pay down their $465 million dollar Department of Energy loan in 5 years or less, as Tesla seeks to achieve profitability.

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Viewers of last night’s Presidential debate may have caught Mitt Romney bad-mouthing Tesla and Fisker during his remarks. Meanwhile, Tesla’s new prospectus shows that they’re hardly out of the woods yet, financially speaking.

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I was originally hesitant to jump on the Tesla Roadster “bricked batteries” bandwagon, and my initial story was written with a sort of cautious neutrality. Further context will be provided by the details that have surfaced in the 24 hours since the story broke. Hope you’re ready to dive in to it all.

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Depleted batteries. Unauthorized GPS tracking. $40,000 service bills. Rejected warranty claims. These are just some of the talking points making the rounds of the internet regarding the alleged “bricking” of Tesla Roadsters.

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Back in August of 2010, I had the chance to drive a Tesla Roadster. Since the Model X debuted yesterday, I thought I’d re-visit the original Roadster. It was a lot of fun to drive. Here’s my original review. Thanks to Peter W J Miller for the photography.

Green cars are not supposed to be like this. They’re for hairshirt wearing, bike path populating hippies who are obsessed with how few miles their produce has traveled and whether their child’s Kindergarten is LEED Certified Gold for eco-friendliness. The Tesla Roadster, is not this. It has as much in common with other green vehicles as zero calorie cola does with an all-night cocaine binge.

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Here’s some gutsy news from one of the gutsier companies around. Tesla filed papers for an initial public offering (IPO) today, hoping to raise up to $100 million. In its Form S-1 registration statement with the SEC, the Silicon Valley start up said the stock would be issued “as soon as possible”. That part is not very surprising, coming on the heels of securing a $465 million loan from the DOE to help build the Model S. But deeper in the that filing comes a couple of juicier facts: Tesla has lost some $236 million so far, and plans to kill the Roadster, its only product on sale, in 2011. (Read More…)