Though many startup companies in the electric vehicle (EV) industry have either struggled to survive produce a profit, or insure investors of their products’ worth (or all three), one company has consistently bucked the trend of disappointing news: Tesla Motors. In 2008, the company first began selling its first-generation all electric Tesla Roadster and since then (more…)
In the world of electric vehicle manufacturers, Tesla Motors is known for their sporty and speedy Roadster that came onto the scene all at once and surprised even the most negative onlookers with their success. Now with the Roadster at their back, the Model S sedan in the works, and the partnership with Toyota still fresh in people’s minds, Tesla is taking their (more…)
On a day when the rest of the stock market was tanking, Tesla Motors cruised to an IPO win worth $226.1million.
Concerns over consumer confidence, the European economy and growth in China brought the market to its lowest level of the year finishing down 268 points. Don’t tell Tesla. In a clear testament to the position the automaker has already achieved as a brand, investors lined up for a ride as the company became the first American car manufacturer to go public since Ford in 1956. (more…)
Elite electric car manufacturer Tesla Motors has revealed in a revised S1 filing with the SEC that it will cooperate with Toyota on the development of Tesla’s Model S sedan. To grease the deal, Tesla will pay Toyota $42 million for the New United Motor Manufacturing Inc.( NUMMI) auto plant in Fremont, California where the vehicles will likely be produced.
The NUMMI facility, which had been the site of a joint venture between Toyota and General Motors, had closed its doors earlier this year as part of GM’s financial liquidation. Indications are that several thousand laid-off auto workers from the area could be rehired as a result of the agreement. (more…)
The Smiths have a Ford, and the Johnsons have a Nissan… but how long will it take the Jones to have a Tesla in your neighborhood?
Tesla Motors, along with Ford and Nissan, were recently awarded loans from the US Energy Department, totaling about $8 billion, to help automakers transition to making more fuel-efficient vehicles. Tesla Motors, which produces high performance, consumer-oriented battery electric vehicles, received $465 million to finance the manufacturing plant for their Model S, as well building a powertrain plant. The Model S, an electric sedan, expected to start production in 2011, will cost roughly $49,900, after a $7,500 tax credit.