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.
May 31, 2013 |
Want to hear an Antarctica-based folk music station in your car? How about a radio broadcaster that plays only Grateful Dead covers? TuneIn is trying to make that a possibility for more people. The Palo Alto company, founded in 2002, is taking on competitors such as Pandora Media Inc. and Sirius XM Radio Inc. in the automotive market by offering products that stream music, news, sports and talk radio stations in vehicles. The company's website and mobile apps aggregate and stream content from stations around the world and generate revenue from digital display ads and commercials that play before the stream begins.
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.
May 30, 2013 |
Tesla Motors Inc. Chief Executive Elon Musk has announced an accelerated rollout of fast super-charger stations across the U.S. and parts of Canada, promising to boost the current eight stations to 25 by midsummer. By the winter months of this year, Musk said, coast-to-coast travel for the company's electric car will be possible along Interstate 80. Musk said that 80% of the U.S. would have access to the $150,000-to-$300,000 stations by 2014, and that 98% of the nation would be covered by 2015.
October 30, 2008 |
U.S. financial markets are in the doldrums, but things look bright for SolarCity. The Foster City, Calif., solar installer said Wednesday that it had received $30 million in funding to help it finance its U.S. expansion. Most of that equity -- $25 million -- is coming from First Solar Inc. of Tempe, Ariz., a manufacturer of thin-film photovoltaic solar modules, which also struck a five-year supply deal with SolarCity Corp.
September 6, 2011 |
An email war of words between tech entrepreneur Elon Musk of Tesla Motors Inc. and a prominent automotive journalist will turn into a $1-million payday for Doctors Without Borders, the international medical charity. Car reviewer Dan Neil of the Wall Street Journal and Musk have been trading oral and email barbs over whether Tesla will be able to bring out its Model S luxury electric sedan on schedule and at the claimed price. Musk is the chief executive of Palo Alto-based Tesla as well as Space Exploration Technologies Corp., the Hawthorne rocket company.
December 12, 2012 |
SolarCity Corp. expanded the size of its highly anticipated initial public offering but knocked down the share price in what analysts said was a bid to boost investor demand. The San Mateo company said in a Wednesday filing with the Securities and Exchange Commission that it plans to sell 11.4 million shares at $8 apiece. That values the company, which is one of the country's largest providers and installers of residential and commercial solar power generating systems, at about $584.6 million.
May 11, 2012 |
DeLorean Motor Co. never had a future to get back to. Tucker Corp. got torpedoed. Fisker Automotive doesn't seem to have good karma. Launching a new auto business and building a brand in the U.S. is no simple task. But inch by inch, electric-car maker Tesla Motors Inc. seems to be doing just that. "Tesla continues to show its ability to manage expectations and deliver on what it promises," Morgan Stanley Research auto analyst Adam Jonas wrote in a report to investors.
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.