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.
June 1, 2013 |
For years I contemplated selling my car and riding a bicycle to work. I would ride to the Tustin train station four miles from my Irvine home on a bike path that would put me just half a mile from the station. From there I would take the Metrolink train to work in downtown Los Angeles. But the few times I tried riding my road bike, I was exhausted by the time I got home. Getting there was easy - all downhill - but coming home was sheer agony, grinding up hills after a long workday.
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.
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.
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.
June 24, 2009 |
The Energy Department said Tuesday that it would lend $5.9 billion to Ford Motor Co. and provide about $2.1 billion in loans to Nissan Motor Co. and Tesla Motors Inc., making the three automakers the first beneficiaries of a $25-billion fund to develop fuel-efficient vehicles. Energy Secretary Steven Chu announced the loan recipients at Ford's Research and Innovation Center in Dearborn, Mich.
May 26, 2007 |
You can feel the electricity. Tesla Motors Inc., manufacturer of an exotic electric roadster, will launch its brick-and-mortar retailing effort with a store on Santa Monica Boulevard near the 405 Freeway in November. And Environmental Motors, the newest dealer for Zap, importer of a three-wheeled, low-speed electric "city car" called the Xebra, just held a grand opening for its showroom at 134 S. Glendale Ave. in Glendale.
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.
November 5, 2012 |
Electric car company Tesla Motors Inc. is rapidly increasing its ability to turn out cars but is still losing money. The Palo Alto automaker said Monday that it lost $105 million in the third quarter compared with $65 million in the same period a year earlier. But the company's revenue jumped 88% to $50 million as it starts to deliver its Model S luxury electric hatchback to customers. Tesla built just 350 cars and delivered only 250 to customers during the third quarter, but the company is now producing cars at its factory in Fremont at a rate of about 200 a week, or 10,000 annually.