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AUTOS
December 15, 2013 | By David Undercoffler
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.
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OPINION
April 24, 2014
Re "The right takes aim at the solar industry," April 20 The vast sums of money used by the Koch brothers and their ilk originated from average Americans fueling their vehicles and powering their homes. Billions of dollars are sucked out of our economy by those who want us to keep using carbon-based energy. The use of oil, coal and natural gas has massive external costs that are not paid by the end user. This is the reason government regulators are trying to level the playing field by providing reasonable incentives for solar energy.
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BUSINESS
May 11, 2012 | By Jerry Hirsch
DeLorean Motor Co. never had a future to get back to. Tucker Corp. got torpedoed. Fisker Automotive doesn't seem to have good karma. Launching a new auto business and building a brand in the U.S. is no simple task. But inch by inch, electric-car maker Tesla Motors Inc. seems to be doing just that. "Tesla continues to show its ability to manage expectations and deliver on what it promises," Morgan Stanley Research auto analyst Adam Jonas wrote in a report to investors.
AUTOS
March 12, 2014 | By Jerry Hirsch
The strategy of Tesla Motors to sell its electric Model S sports sedan through company-owned stores took a hit this week when New Jersey required that autos sold in the state have to move through a middleman, namely a dealer. At the urging of auto dealers, the New Jersey Motor Vehicle Commission changed a rule Tuesday to require a franchise license to sell new cars in the state. Tesla has two company owned stores in New Jersey stores -- in Short Hills and Paramus -- that were operating under different licenses.
BUSINESS
May 29, 2009 | Martin Zimmerman
Electric-car maker Tesla Motors said Thursday that it was recalling all 345 of its Roadster sports cars produced before April 22 so they could be inspected for a possible suspension problem. Tesla blamed the problem on bolts that were improperly installed on the rear chassis "of a small percentage" of Roadsters by British automaker Lotus.
AUTOS
June 19, 2013 | By Jerry Hirsch
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.
AUTOS
May 22, 2013 | By Jerry Hirsch
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.
BUSINESS
November 29, 2007 | From Times Wire Services
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.
AUTOS
April 2, 2013 | By Jerry Hirsch
Tesla Motors has worked out a deal with several banks to sell its pricey electric sports sedan with a guaranteed buyback after 36 months. The transaction is meant to be competitive with leasing, a key component of luxury auto sales.  In a lease, people essentially rent fancy nameplates such as Mercedes-Benz and Jaguar -- instead of putting up a lot of cash or taking a large loan to finance the purchase. Tesla is now getting into that game, with a transaction that works like a lease but actually is a resale agreement.
BUSINESS
February 1, 2010 | By Robert Faturechi
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.
BUSINESS
March 7, 2014 | By Jerry Hirsch
California loves Tesla Motors. The Palo Alto electric car maker's Model S sedan is the state's new eco-luxury status symbol. Californians bought more than a third of Teslas sold globally last year. Residents of the state pack the order list for Tesla's next offering, a sport utility vehicle. California pollution-control policies enable Tesla to rake in tens of millions of dollars each year from selling environmental credits to other automakers - a key source of Tesla's revenue.
NEWS
March 7, 2014 | By Paul Whitefield
Like young bucks at a county fair kissing booth, states are lining up for a chance to court Tesla Motors and its planned $5-billion battery factory. But fair warning, fellas: The intoxicating fragrance of Musk and his money masks a cold business heart. Already a loser in the race for this California girl's affections, though, is, well, California. Oh, sure, we're good enough to design and build the company's eco-luxe Model S. And Californians bought more than one-third of the $70,000-and-up cars last year.
AUTOS
February 25, 2014 | By Jerry Hirsch
While Telsa's cars run on electricity, its stock price seems to defy gravity. Shares of Tesla rose 17%, or $37.65, to a record $255.30 in midday trading after a Morgan Stanley analyst said the stock could hit $320. Tesla, which sold fewer than 23,000 cars last year, now has a stock market valuation of $30 billion. That is  more than half the $57.4 billion of General Motors, which sold 10.7 million vehicles last year. “Tesla's quest to disrupt a trillion-dollar car industry offers an adjacent opportunity to disrupt a trillion-dollar electric utility industry,” Morgan Stanley autos analyst Adam Jonas wrote in an investor report Tuesday.
AUTOS
February 19, 2014 | By Jerry Hirsch
Tesla Motors Inc. narrowed its losses in both the fourth quarter and the year as the electric car maker ramped up sales both in the U.S. and internationally and collected about $150 million from the sale of environmental credits. Shares of Tesla soared to a  record when it released the financial report after the stock market closed, rising $24.10, or 12.5% to $217.74 in after-hours trading Wednesday. Tesla said that it lost $16.3 million in the fourth quarter. That compared with a loss of $89.9 million a year earlier.
AUTOS
February 13, 2014 | By Jerry Hirsch
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.
AUTOS
December 20, 2013 | By David Undercoffler
Get ready, supercar fans, Lamborghini is going to rock you like a hurricane. Actually, it's Huracan. That's the name the Volkswagen-owned Italian brand known for icons like the Countache and Diablo have given to its latest mid-engine supercar. PHOTOS: Lamborghini's all-new Huracan The Huracan LP 610-4 replaces the outgoing Gallardo, a car that was introduced in 2003 and has unquestionably been integral to Lamborghini's growth and transition into the 21st century.
BUSINESS
February 16, 2011 | By Tiffany Hsu, Los Angeles Times
Tesla Motors Inc. saw its loss increase 177% last year, as research, marketing and manufacturing expenses piled on for the young electric-vehicle company. The Palo Alto automaker said the loss ballooned to $154.3 million in 2010 from $55.7 million in 2009. After its June initial public offering, it became the only publicly held automaker in California. Tesla's loss for the fourth quarter that ended Dec. 31 was $51.4 million, company executives said Tuesday. Founded in 2003, Tesla has garnered a lot of attention for its high-priced electric car that has been bought by the likes of Matt Damon and Leonardo DiCaprio.
AUTOS
February 13, 2014 | By Jerry Hirsch
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.
AUTOS
December 17, 2013 | By David Undercoffler
Mini has announced that it will use the 2014 Detroit Auto Show in January to flex a little bit of muscle and reveal the John Cooper Works concept. The car is a high-performance iteration of the all-new 2014 Cooper Hardtop that Mini showed off at the L.A. Auto Show in November. Mini -- an offshoot of BMW -- has traditionally built a John Cooper Works version of nearly every model it builds. Powertrain details on the JCW concept haven't been disclosed, but it will likely use a tuned version of the 2.0-liter turbocharged four cylinder engine in the new Cooper S. That model makes 189 horsepower and a maximum of 207 pound-feet of torque, so certainly expect a healthier piece of performance pie from the JCW version.
AUTOS
December 15, 2013 | By David Undercoffler
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.
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