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.
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.
May 20, 2009 |
German automaker Daimler has bought nearly 10% of Tesla Motors Inc., giving a financial boost to the California electric car company. Daimler, which owns Mercedes-Benz, didn't disclose the amount of the investment, saying only that, priced in euros, the amount was in "eight figures." In January, Daimler selected Tesla to provide batteries and chargers for the German company's Smart EV electric car.
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.
June 16, 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 the $109,000 Roadster electric sports car said in a Securities and Exchange Commission filing Tuesday that it planned to sell as many as 12.8 million shares for between $14 and $16 each in an initial public offering. The offering is "highly anticipated" and puts the value of the company at about $1.5 billion, according to IPO research firm Renaissance Capital.
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.
November 26, 2009 |
The Downey City Council on Wednesday approved a preliminary deal that could help bring auto manufacturing back to Southern California for the first time in nearly two decades. The council agreed to a memorandum of understanding with Industrial Realty Group, the manager of an 80-acre parcel where Tesla Motors Inc. is considering building an electric-car plant. The facility is currently used for film and television production. According to the memorandum, the city will provide $8.7 million in economic development incentives to help Industrial Realty Group, or IRG, negotiate a lease agreement with the San Carlos, Calif.
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.
June 29, 2010 |
Tesla Motors Inc., the Silicon Valley-based electric sports car maker, got a warm welcome from investors in the company's initial public stock offering late Monday. Tesla priced its IPO at $17 a share, above the expected range of $14 to $16. The stock will begin trading on Nasdaq on Tuesday under the symbol TSLA. The deal marks the first IPO by an American car company since Ford Motor Co. went public in 1956. Tesla and current shareholders sold a total of 13.3million shares, raising $226 million.