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Tesla Motors Inc

BUSINESS
October 16, 2008 | Ken Bensinger, Times Staff Writer
The credit crisis has hit the country's leading electric car maker. Citing "extraordinary times," Tesla Motors, maker of the battery-powered, $109,000 Roadster, said Wednesday that difficult market conditions were forcing it to delay production of its next-generation vehicle, close two offices, lay off an unspecified number of employees and replace its chief executive. For now, the San Carlos, Calif.
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BUSINESS
January 14, 2009 | Ken Bensinger
Tesla, the San Carlos, Calif.-based electric car company, said Tuesday that it had been selected to provide the batteries and chargers for Daimler's Smart EV electric car and would deliver 1,000 of the batteries this year and next. "Daimler just gave me permission this morning to announce the news," said Tesla Chief Executive Elon Musk, best known as the co-founder of PayPal.
BUSINESS
October 25, 2008 | Ken Bensinger, Bensinger is a Times staff writer.
Struggling to raise money amid the financial crisis, electric carmaker Telsa Motors Inc. will eliminate nearly a quarter of its workforce in a bid for profitability. Chairman and Chief Executive Elon Musk said Friday that Tesla would cut as many as 87 staff and full-time contract workers, or 24% of the 363-person total. The company also will attempt to raise $25 million, rather than the $100 million it had been seeking. Last week, the Santa Rosa-based start-up said it would delay production of its electric sedan, close two offices, increase production of its $109,000 Roadster and lay off an unspecified number of employees.
BUSINESS
July 9, 2008 | From Times Wire Services
Tesla Motors Inc., aiming to be the first high-volume electric-car maker, hired a manufacturing chief who led Chrysler's development of the Jeep Wrangler and minivans with fold-flat seats. Michael Donoughe, 49, will become an executive vice president at Tesla. Donoughe was with Chrysler from 1983 until last March.
BUSINESS
February 9, 2008 | From Times Wire Services
Tesla Motors Inc., aiming to be the first high-volume electric car maker, raised $40 million more from Silicon Valley investors to ensure that it could begin production next month after delays and a management shake-up. Tesla is closing the "funding round right now," Chairman Elon Musk said. San Carlos, Calif.-based Tesla collected $100 million earlier from backers including Google Inc. founders Larry Page and Sergey Brin and venture capital firms such as Palo Alto-based Technology Partners.
BUSINESS
December 19, 2013 | By Marc Lifsher
SACRAMENTO -- A state panel has granted a $34.7-million tax break to Tesla Motors Inc., which makes high-tech electric vehicles at facilities in Fremont and Palo Alto. The California Alternative Energy and Advanced Transportation Financing Authority this week approved the credit on sales and use taxes that Tesla would have paid for equipment to expand its production of electric cars and power trains. Photos: The world's most beautiful cars  "I'm pleased we could take this action to encourage Tesla to expand its electric vehicle production in California, which will create green jobs and improve our air quality," said state Treasurer Bill Lockyer, who chairs the agency's board.
BUSINESS
February 16, 2012 | By Jerry Hirsch, Los Angeles Times
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.
BUSINESS
April 30, 2012
SolarCity Corp., the developer of rooftop solar power systems whose chairman heads Tesla Motors Inc., is planning an initial public offering. The offering will begin after the Securities & Exchange Commission reviews a draft registration statement the San Mateo, Calif.-based company submitted April 26, according to a statement that didn't say how many shares it plans to sell or at what price. SolarCity is seeking to go public while other renewable- energy companies are abandoning their IPO plans.
BUSINESS
August 4, 2011 | By Jerry Hirsch, Los Angeles Times
Electric car company Tesla Motors Inc. posted a loss of $58.9 million in the second quarter as it sunk money into developing its Model S sedan and a crossover that it is calling Model X. Tesla, based in Palo Alto, is refurbishing an old Toyota factory in Fremont, Calif., where it plans to build the cars. The Model S, an all-electric luxury sedan, is expected to go on sale next year. The loss was 53% larger than the $38.5 million the company lost in the same period a year earlier.
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