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.
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.
July 25, 2012 |
Electric car company Tesla Motors Inc. said revenue fell and losses widened in the second quarter of this year. The company is in a key transition period, shifting from deriving its revenue from sales of just a few thousand Roadster sports cars and development work for other automakers to manufacturing and selling its Model S, Tesla's first full production vehicle. The automaker just began selling the Model S, an all-electric five-passenger hatchback that has received rave reviews from the automotive press. Chief Executive Elon Musk said the company had been manufacturing just five cars a week but not has doubled production and is “ramping methodically.” “We are maintaining our revenue guidance of $560 [million and]
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.
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.
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.
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.
March 17, 2010 |
Hawthorne-based Space Exploration Technologies Corp. has signed a deal to launch a commercial satellite for Loral Space & Communications Inc.'s space system unit. "It's a significant breakthrough," said Elon Musk, the company's founder and chief executive. "Loral is placing a bet on SpaceX and its technology. It's really one of the biggest endorsements you can get." Musk, who also co-founded PayPal and Tesla Motors Inc., said it was one of the largest commercial contracts won by SpaceX.