November 19, 2013 |
Los Angeles billionaire Elon Musk said Tesla Motors Inc. was being overly scrutinized by the media after three fires broke out in recent months on its expensive electric cars. Musk, chief executive of Tesla, addressed the topic during a wide-ranging interview before a Los Angeles World Affairs Council banquet Monday at the Hyatt Regency Hotel in Century City. "Our car is basically the safest car you can possibly drive if you care about fires," he said. “And that's not the impression you would have if you read newspapers.
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.
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.
May 28, 2013 |
Tesla Motors Inc. hit another milestone Tuesday morning. It's stock was up as much as $8.10 on the Nasdaq and topped $100 a share for the first time ever. As the trading day progressed, Tesla shares lost a little ground, but the price was still up $7.25 to $104.33 a share. Analysts said it wasn't just big news for Tesla, but for the beleaguered electric car industry as a whole, which has seen a spate of bankruptcies and bad news in recent months. PHOTOS: Top 10 cars with the lowest sticker price per mpg Last month Fisker Automotive failed to make a scheduled federal loan payment and Los Angeles-based Coda Automotive recently filed for bankruptcy protection and put itself up for sale, just to name a few of the industry's troubles.
August 23, 2013 |
Is the Tesla Model S really the safest car on the road? One key fact went unnoticed this week as Tesla Motors Inc. trumpeted its "best" crash-test rating in the media: The federal government doesn't test most other luxury cars. So the Model S may be safer than many cars costing far less. But whether it's safer than direct competitors from BMW, Audi and Mercedes-Benz - considered among the safest cars available - remains a mystery. What's more, the federal safety regulators privately reprimanded the automaker for publicly claiming the Model S scored better than any other car, according to a source familiar with the discussions.
August 12, 2013 |
Los Angeles billionaire Elon Musk has already revolutionized spaceflight business for NASA. He has shaken up the automotive industry. Now he's turned his attention to public transportation. On Monday, Musk wrote a blog post revealing the design of his much-anticipated Hyperloop, the proposed high-speed transit solution that's supposed to take passengers from Los Angeles to San Francisco in 30 minutes. The line would travel along the I-5 and I-580 at speeds of up to 760 mph and would have the feel of an airline, Musk told reporters.
May 6, 2013 |
SACRAMENTO - A "Made in USA" label has long been seen as an advantage in marketing a product. Now there are in-state manufacturers that want to see the adoption of an official label that declares Made in California. State Sen. Ellen M. Corbett (D-San Leandro) has introduced legislation to require Go-Biz, the governor's business development office, to come up with a plan - including the new label - to promote California-manufactured products. The bill, now before the Senate Appropriations Committee, would enhance California's reputation for making environmentally safe and energy efficient products, Corbett said.
January 4, 2012 |
General Motors Co.'s Chevrolet Volt missed its U.S. sales target of 10,000 cars in 2011, the company said. Chevy dealers sold 1,529 of the plug-in hybrids in December, leaving the brand 2,329 shy of its goal. A slow production ramp-up kept dealers in short supply until last month, and a federal investigation of three fires that occurred after Volt crash tests lowered demand for the car, according to Bandon, Oregon-based CNW Marketing Research Inc. U.S. dealers sold a total of 7,671 Volts last year.
May 22, 2012 |
Tesla Motors Inc. said it will begin delivering its first mass production electric car - - the high-end Model S to customers starting June 22, about a month ahead of the expected schedule. The Palo Alto-based company says it has more than 10,000 orders for the battery-powered car but that not all will be delivered this year. The announcement of early deliveries by the company co-founded by tech industrialist and chief executive Elon Musk came on the same day that SpaceX, another Musk company, became the first private business to launch a spacecraft to the International Space Station.