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 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 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.
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.
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.
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.
September 23, 2009 |
In its latest bid to help finance the car of tomorrow, the Obama administration said it would lend more than $500 million to Irvine-based Fisker Automotive Inc. to develop a pair of plug-in hybrids. The loans, announced Tuesday, come from a $25-billion Department of Energy program to fund development of alternative vehicles. According to the administration, the funding will help create or save 5,000 jobs at Fisker and its suppliers. The $528.7-million low-interest loan "is another critical step in making sure we are positioned to compete for the clean energy jobs of the future," Energy Secretary Steven Chu said.
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.