February 16, 2012 |
Electric car company Tesla Motors Inc. announced a deal to provide the powertrain for a new Mercedes-Benz vehicle, even as it moves closer to manufacturing its own vehicles later this year. The Palo Alto automaker also said Wednesday that it expected revenue to roughly triple this year, when it will begin selling the Tesla Model S sedan, its first ground-up design. The company is about to launch production of the Model S at its factory in Fremont, Calif. For the new Mercedes model, Tesla will provide the battery packs, motor, gearbox, inverter and all related software.
July 1, 2008 |
The company that built the first mass-produced, all-electric car will keep its manufacturing plant in California, thanks to a new tax break. Gov. Arnold Schwarzenegger and state Treasurer Bill Lockyer worked out the deal for Tesla Motors Inc. after learning that the Silicon Valley company intended to build its second-generation vehicle in New Mexico. The financial break, announced Monday, allows Tesla to avoid paying state sales tax on equipment it buys to build its Model S.
March 12, 2012 |
The first all-electric Coda sedan rolled off the assembly line in Benicia, Calif., on Monday, marking a big day for the privately held Los Angeles company. Coda Automotive Inc. manufactures most of the vehicle's battery system and body in China. The parts are then shipped to the San Francisco Bay Area port city of Benicia for final assembly. "Coda started five years ago in an airport hangar in Southern California," said Mac Heller, the company's executive chairman. "We shared a conviction that with technology and science, we could create cars that do not spoil the Earth, drain the treasury or hurt the health of our children.
April 30, 2012 |
SolarCity Corp., a Bay Area solar panel developer and installer whose chairman heads Tesla Motors Inc., is planning an IPO. The San Mateo company's intention to go public come as other alternative energy firms are backing away from similar growth plans, even after the industry reported record growth last year. First Solar Inc. said this month that it would close down some of its factories and trim 2,000 positions . Oakland's BrightSource Energy Inc. scrapped its IPO plans a few weeks ago. After Solyndra's bankruptcy last year focused an unflattering spotlight on the solar business, SolarCity and other companies gave up hope for federal loan guarantees.
April 10, 2013 |
In the latest chapter of an ongoing battle against traditional dealer networks, Tesla Motors Inc. Chief Executive Elon Musk has taken his fight to Texas, telling lawmakers his company could sell as many as 2,000 cars next year if allowed to open its own stores. Musk testified Monday before a committee of the Texas Legislature in support of HB 3351 and SB 1659, bills that would allow U.S.-based manufacturers of 100% electric- or battery-powered vehicles to sell directly to Texas consumers.
May 11, 2012 |
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.
March 8, 2013 |
Tesla Motors Inc. said in its annual report Thursday that it has received federal approval to complete the repayment of its $465 million in U.S. Energy Department loans five years ahead of schedule. The Palo Alto-based car company run by billionaire co-founder and Chief Executive Elon Musk had received the loan to develop and build electric cars. Tesla spokeswoman Shanna Hendriks said that the company had been scheduled to complete repayment by mid-December of 2022 but had instead arranged to complete the task by the end of 2017.
CALIFORNIA | LOCAL
February 18, 2010 |
As investigators examined audio recordings to determine what caused a small plane to crash in a residential East Palo Alto neighborhood, authorities Thursday tentatively identified the three employees of Tesla Motors Inc. who died. The pilot was Doug Bourn, 56, a senior electrical engineer who had worked for the electric carmaker for five years and who mentored others. The company said Bourn, a flight instructor, loved flying. Also onboard the twin-engine Cessna 310 was Brian Finn, 42, a senior interactive electronics manager, who started working for Tesla in July 2008.
September 22, 2009 |
SAN FRANCISCO -- The co-founders of the electric car company Tesla Motors Inc. have settled their legal battle with laudatory statements of each other's accomplishments. Former Chief Executive Martin Eberhard dropped his lawsuit accusing current CEO Elon Musk of slander, libel and other claims. Eberhard had charged Musk with unfairly blaming him for the San Carlos, California-based company's well-documented missteps and with wrongly claiming to be a company founder. Eberhard launched Tesla in 2003, and Musk joined the company the following year as majority investor.
August 23, 2013 |
Is the Tesla Model S really the safest car on the road? One key fact went unnoticed this week as Tesla Motors Inc. trumpeted its "best" crash-test rating in the media: The federal government doesn't test most other luxury cars. So the Model S may be safer than many cars costing far less. But whether it's safer than direct competitors from BMW, Audi and Mercedes-Benz - considered among the safest cars available - remains a mystery. What's more, the federal safety regulators privately reprimanded the automaker for publicly claiming the Model S scored better than any other car, according to a source familiar with the discussions.