February 1, 2010 |
California electric car maker Tesla Motors Inc. plans to raise up to $100 million in an initial public offering, according to a filing with the Securities and Exchange Commission. The move brings the innovative car company, which has long enticed car enthusiasts, one step closer to becoming a household name. The price of shares or the timing of their availability is still unclear, but industry observers expect the much-anticipated offering to be well-received by investors.
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.
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.
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.
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.
March 8, 2013 |
Tesla Motors Inc. said in its annual report Thursday that it has received federal approval to complete the repayment of its $465 million in U.S. Energy Department loans five years ahead of schedule. The Palo Alto-based car company run by billionaire co-founder and Chief Executive Elon Musk had received the loan to develop and build electric cars. Tesla spokeswoman Shanna Hendriks said that the company had been scheduled to complete repayment by mid-December of 2022 but had instead arranged to complete the task by the end of 2017.
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.
March 17, 2010 |
Hawthorne-based Space Exploration Technologies Corp. has signed a deal to launch a commercial satellite for Loral Space & Communications Inc.'s space system unit. "It's a significant breakthrough," said Elon Musk, the company's founder and chief executive. "Loral is placing a bet on SpaceX and its technology. It's really one of the biggest endorsements you can get." Musk, who also co-founded PayPal and Tesla Motors Inc., said it was one of the largest commercial contracts won by SpaceX.