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.
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.
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 4, 2013 |
SACRAMENTO - Gov. Jerry Brown has signed into law legislation that was heavily lobbied by Silicon Valley entrepreneurs and aimed at boosting sales of high-tech goods and services. Four measures, part of a package of 18 business-friendly bills approved Friday, seek to ease the regulatory burden on developers of smartphone-based payment systems; reverse a retroactive tax hike on investors in small start-up companies, and create a "Made in California" program to help market innovative, locally manufactured consumer products.
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.
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.
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.