November 28, 2012 |
Bay Area solar energy company SolarCity Corp. is looking to raise as much as $151 million in its highly anticipated initial public stock offering. The San Mateo business - which helps residential, commercial and government clients such as Wal-Mart Stores Inc., EBay and the U.S. military set up solar power-generating systems - said it expects its shares to sell for $13 to $15 each. The company plans to sell 10 million shares, while shareholders will offer 65,012 shares, SolarCity said in an amended filing with the Securities and Exchange Commission.
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.
May 31, 2013 |
Want to hear an Antarctica-based folk music station in your car? How about a radio broadcaster that plays only Grateful Dead covers? TuneIn is trying to make that a possibility for more people. The Palo Alto company, founded in 2002, is taking on competitors such as Pandora Media Inc. and Sirius XM Radio Inc. in the automotive market by offering products that stream music, news, sports and talk radio stations in vehicles. The company's website and mobile apps aggregate and stream content from stations around the world and generate revenue from digital display ads and commercials that play before the stream begins.
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.
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.
October 18, 2013 |
Los Angeles billionaire Elon Musk secretly purchased the amphibious sports car that appeared as a movie prop in a 1970s James Bond film with the intention of converting it into the real thing. Musk, chief executive of electric car company Tesla Motors and rocket maker SpaceX, bought the car anonymously at auction in London on Sept. 9 for $989,000. In the 1977 film “The Spy Who Loved Me,” starring Roger Moore as Agent 007, Bond drives his white Lotus Esprit off a pier and into the sea. As the car sinks underwater, he yanks on the shifter and the car transforms into a submarine.
February 15, 2012 |
Electric car company Tesla Motors Inc. announced that it has 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 battery packs, motor, gearbox, inverter and all related software.
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.