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.
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.
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.
September 18, 2008 |
Tesla Motors Inc., aiming to be the first high-volume maker of electric cars, plans to build a $250-million plant to produce sedans in San Jose and move its headquarters to the same facility. The factory initially will employ about 1,000 people and be able to produce 15,000 cars a year when it opens in late 2010, Chief Executive Ze'ev Drori said Wednesday. Construction costs will be more than $100 million.
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.
October 3, 2009 |
Toyota Motor Corp. has joined the growing ranks of automakers planning to bring advanced battery-powered vehicles to showrooms in the near future. The Japanese automaker said it planned to have a plug-in version of its popular Prius hybrid for sale in the U.S. in three years. "The target is 2012 to be coming to market with them," Irving Miller, a group vice president for Toyota's U.S. sales unit, said at a Los Angeles conference on climate change, Bloomberg News reported. Before that, "we're going to study the challenges of consumer demand," he said.
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.
May 4, 2011 |
Tesla Motors Inc., bolstered by sales of battery packs for electric vehicles, said quarterly revenue more than doubled. But losses grew sharply as costs of developing an electric vehicle escalated. The Palo Alto firm reported revenue of $49 million in the first quarter, more than double the $20.8 million a year earlier, as it delivered a record number of battery packs and chargers for Daimler's electric Smart Fortwo and Toyota's electric RAV4 that is due out next year and for which Tesla is helping to develop a powertrain.
June 15, 2010 |
Electric-car maker Tesla Motors Inc. plans to raise about $167 million by selling stock to the public later this year. The Palo Alto maker of a $109,000 Roadster electric sports car said in a Securities and Exchange Commission filing Tuesday that it planned to sell as much as 12.8 million shares for up to $14 to $16 each in an initial public offering. The offering is "highly anticipated" and values the company at about $1.5 billion, according to IPO research firm Renaissance Capital.