Tesla Motors Inc. increased past $100 a share for the first time ever this week according to Bloomberg News.
The company gained 7.9 percent to $104.72 this week, and increased to as much as 8.6 percent to $105.40.
CEO Elon Musk said on May 20 the announcement of the expansion of its supercharger network was being pushed back to this week after the company repaid a large U.S. loan they took out in 2009.
The company repaid the loan nine years before the final payment was due. In doing so, Tesla became the first recipient of a U.S. Energy Department loan to pay off its debt.
Click here to read more about Tesla paying off their loan.
"I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate," Musk said in a press statement. "I hope we did you proud."
The Tesla Model S is sold for a base price of $69,900 and can go 265 miles per charge.
Tesla started installing solar-powered supercharger stations on major U.S. roadways to help people re-charge their vehicles during long trips, thus making their models seem more desirable.
Click here to read about North Carolina wanting to ban Tesla sales.
Goldman Sachs said in a May 24 report that Tesla is "well positioned" to reach its 21,000 Model S production target in 2013.
Tesla seems to be the only electric car company that is doing well lately.
Fisker Automotive had to lay off most of its employees and failed to make a scheduled federal loan payment earlier this year, and Coda Automotive recently filed for bankruptcy protection and is currently up for sale.
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