November 4, 2010 |
Tesla Motors Inc. shares surged Thursday after Panasonic Corp., which makes rechargeable batteries among its many products, bought a $30-million stake in the electric car company. Panasonic, based in Osaka, Japan, paid $21.15 a share Wednesday in a private placement, Palo Alto-based Tesla said in a statement. Panasonic now holds about a 2% stake in the company. In afternoon trading, Tesla shares jumped $3.13, or 14.4%, to $24.90. Last week, Tesla opened the doors of its Fremont, Calif.
May 23, 2012 |
Tony Stark, alias Iron Man, is suave, brilliant, mega-rich and dripping with beautiful women. Sounds an awful lot like Elon Musk, the South African entrepreneurial wunderkind who spent his Tuesday shooting a rocket into space and making a major advance in electric vehicles. The 40-year-old served as an inspiration for the fictional genius billionaire in the "Iron Man"movies, according to director Jon Favreau. Musk even makes a cameo in one of the films. But the comparisons are really getting some traction now, with the comic book character playing a pivotal role in the blockbuster "The Avengers" at the same time that Musk kicks two of his grandest ventures into high gear.
August 28, 2012 |
Coda Automotive Inc. started selling its $37,250 electric car in March, but it has been silent about its sales. The Los Angeles start-up appears to have delivered 78 vehicles at most, according to a recall notice issued by the National Highway Traffic Safety Administration. Coda must fix side curtain air bags that were not installed properly and might not deploy in an accident. Electric car sales overall are far from brisk, but other companies seem to be doing better. Tesla Motors Inc., a start-up in Palo Alto, has delivered about the same number of its $100,000 electric Model S luxury cars in a shorter period of time.
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.
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.
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.
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]
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.
January 21, 2012 |
Federal safety regulators have given the Chevrolet Volt an all-clear. The National Highway Traffic Safety Administration said Friday that it did not identify a safety defect, concluding that the car does not pose any unusual risk of fire. In closing the book on its investigation into Volts catching on fire, NHTSA also issued new guidelines for how emergency personnel and tow truck operators should deal with electric vehicles and plug-in hybrids that have been damaged in severe accidents.