June 19, 2013 |
Add another first to electric car company Tesla Motors' list of accomplishments -- its first recall of its Model S sporty sedan. Tesla will recall about 1,228 of its expensive Model S because of a problem with a seat latch, Elon Musk, the automaker's chief executive said in a statement. “The mounting bracket for the left hand latch of the second row seat could be weaker than intended. This reduces our confidence that the left hand seat back will be properly retained in the event of a crash,” Musk wrote on the company's website.
December 15, 2013 |
Tesla Motors plans to unveil an electric car in early 2015 that could sell in the $40,000 range, a mainstream offering that could be key to the automaker's future growth. Tesla's only current offering is the Model S, a premium sport sedan that starts at $71,070 before any state or federal tax incentives, and can cost far more with options. In late 2014, the Palo Alto automaker plans to release a long-awaited Model X sport-utility, likely to sell in the same price range. The third, lower-priced model could make its official debut at the 2015 North American International Auto Show in Detroit, Tesla confirmed Friday.
May 22, 2013 |
Upstart electric car maker Tesla Motors on Wednesday paid off a Department Energy loan that had become a political hot potato. Tesla owed the federal government $451.8 million on a loan that was part of a special program to develop alternative fuel vehicles and renewable energy sources. Paying off the loan “is pragmatic as well as symbolic,” said Jeremy Anwyl, vice chairman of auto information company Edmunds.com. “There is a nice party going on on Wall Street right now. Tesla is participating.
November 29, 2007 |
Tesla Motors Inc., aiming to be the first high-volume U.S. maker of electric sports cars, named entrepreneur Ze'ev Drori chief executive of the San Carlos, Calif., company. Drori, who founded a semiconductor firm that was bought by Advanced Micro Devices Inc. in the 1980s, replaces interim CEO Michael Marks on Dec. 3.
February 1, 2010 |
California electric car maker Tesla Motors Inc. plans to raise up to $100 million in an initial public offering, according to a filing with the Securities and Exchange Commission. The move brings the innovative car company, which has long enticed car enthusiasts, one step closer to becoming a household name. The price of shares or the timing of their availability is still unclear, but industry observers expect the much-anticipated offering to be well-received by investors.
February 13, 2014 |
Shares of Tesla Motors crossed the $200 barrier Thursday before falling back, but still closed at a record level for the upstart automaker. The electric car company's closing price of $199.63, a gain of $4.31, or 2.2%, from the previous day, gives it a market value of $24.5 billion. Put another way, it is worth about $1.1 million for each of the 22,450 Model S cars it sold last year. The cars sell for $70,000 to $100,000, depending on options. The market value of General Motors Co. is about $56 billion, or about $5,200 for each of the 10.7 million cars it sold globally last year. “Tesla is not something that should be compared to a conventional car company,” said Craig Irwin, an analyst with Wedbush Securities.