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.
February 15, 2012 |
Electric car company Tesla Motors Inc. announced that it has 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 battery packs, motor, gearbox, inverter and all related software.
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.
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.
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.
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.
October 7, 2010 |
Electric car company Tesla Motors Inc. opened up its Palo Alto headquarters and research center to the media for the first time Wednesday, divulging new information about its Model S sedan and showing off its growing automotive engineering capability. One of the surprises of the Model S is that its battery pack will fit in a large flat panel under the vehicle, providing rigidity for the body and enhancing handling and aerodynamics, said Peter Rawlinson, Tesla's chief engineer for vehicle engineering.
November 21, 2013 |
Consumer Reports said Thursday that the Tesla Motors Model S electric car has generated the highest consumer loyalty of any car it has surveyed in years. Owners of the luxury sports sedan, which sells for $70,000 to $100,000 depending on equipment and options, gave the Model S a score of 99 out of 100. The magazine said that it collected more than 600 survey responses from owners of 2012 and 2013 models. The score also matches “the near-perfect 99 overall test score the Model S earned in Consumer Reports' performance ratings,” the magazine said.