October 25, 2008 |
Struggling to raise money amid the financial crisis, electric carmaker Telsa Motors Inc. will eliminate nearly a quarter of its workforce in a bid for profitability. Chairman and Chief Executive Elon Musk said Friday that Tesla would cut as many as 87 staff and full-time contract workers, or 24% of the 363-person total. The company also will attempt to raise $25 million, rather than the $100 million it had been seeking. Last week, the Santa Rosa-based start-up said it would delay production of its electric sedan, close two offices, increase production of its $109,000 Roadster and lay off an unspecified number of employees.
October 16, 2008 |
The credit crisis has hit the country's leading electric car maker. Citing "extraordinary times," Tesla Motors, maker of the battery-powered, $109,000 Roadster, said Wednesday that difficult market conditions were forcing it to delay production of its next-generation vehicle, close two offices, lay off an unspecified number of employees and replace its chief executive. For now, the San Carlos, Calif.
April 5, 2008 |
San Carlos, Calif. On an overcast Friday in February, about 100 people gathered behind Tesla Motors Inc. headquarters, awaiting the future of transportation. A truck pulled up with a trailer, which disgorged a sleek black electric sports car that promises to change the world as much as the Model T did a century ago. The crowd toasted with champagne as Elon Musk, Tesla's chairman, climbed a staircase and made a triumphant speech. "This is the culmination of an enormous amount of work," he said.
November 29, 2007 |
Tesla Motors Inc., aiming to be the first high-volume U.S. maker of electric sports cars, named entrepreneur Ze'ev Drori chief executive of the San Carlos, Calif., company. Drori, who founded a semiconductor firm that was bought by Advanced Micro Devices Inc. in the 1980s, replaces interim CEO Michael Marks on Dec. 3.
September 29, 2007 |
Tesla Motors Inc. said this week that it was delaying production of its high-profile Roadster electric car until the first quarter of 2008 while it conducted further tests on the vehicle. The San Carlos, Calif.-based company had hoped to get the first production models of its $98,000 high-performance car into the hands of buyers before the end of this year. The delay is not due to problems with the car's electric powertrain or its battery pack, which consists of almost 7,000 lithium ion batteries, Tesla spokesman Darryl Siry said.
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 22, 2007 |
In a move that could help promote development of batteries for electric and plug-in hybrid cars in the U.S., California's Tesla Motors Inc. plans to announce a $43-million, two-year deal this morning to supply electric-car batteries to Think, a Norwegian manufacturer of low-speed, electric "city" cars. The deal is expected to bring San Carlos, Calif.