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On February 26, at an event hosted by Secretary of Energy Steven Chu, Elon Musk announced Tesla will pay off our Department of Energy (DOE) loan five years early, twice as fast as required by the original 2010 loan agreement signed by Tesla and the DOE.

Now that our financing round is complete, I would like to clear up some misconceptions that arose last week as a result of our filing a public market financial prospectus. SEC rules rightly limit interaction with the press during a financing round to prevent companies from promoting stock. Unfortunately, this made it difficult for me to respond properly when some journalists gained the wrong impression.