June 16, 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 the $109,000 Roadster electric sports car said in a Securities and Exchange Commission filing Tuesday that it planned to sell as many as 12.8 million shares for between $14 and $16 each in an initial public offering. The offering is "highly anticipated" and puts the value of the company at about $1.5 billion, according to IPO research firm Renaissance Capital.
September 22, 2009 |
SAN FRANCISCO -- The co-founders of the electric car company Tesla Motors Inc. have settled their legal battle with laudatory statements of each other's accomplishments. Former Chief Executive Martin Eberhard dropped his lawsuit accusing current CEO Elon Musk of slander, libel and other claims. Eberhard had charged Musk with unfairly blaming him for the San Carlos, California-based company's well-documented missteps and with wrongly claiming to be a company founder. Eberhard launched Tesla in 2003, and Musk joined the company the following year as majority investor.
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.
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 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.
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.
August 28, 2011 |
Public electric vehicle chargers are cropping up across California's major cities, emerging in parking garages, near subway stations, alongside roads, and at shopping centers and office buildings. The idea is to soothe range anxiety — the fear that EV batteries will abruptly die, leaving drivers stranded without a power source. Public chargers could also help attract apartment dwellers to try out electric vehicles. Many are fast-chargers, which can juice up a dead battery in less than half an hour.
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.
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.
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.