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Tag Archive | "Tesla Motors"

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Tesla Boosts IPO Shares Day before Trading


It’s looking like investor interest in Tesla Motors might be stronger than originally expected as the number of shares to be made publicly available tomorrow was increased by 20% to 13.3 million.

Tesla maintains that it expects shares to sell for around $14 – $16 which could raise up to $200 million on its IPO. This will go along way to making sure that the Tesla Model S electric car (pictured above) sees the marketplace. The finalized Tesla stock prices should be announced tonight with the IPO hitting the ground Tuesday morning at 9:20AM EST.

The Tesla Motors stock will trade as TSLA on the NASDAQ. Will you be buying Tesla stock? Let us know in the comments section.

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Tesla Not Developing Electric Car with Toyota


A previous report we brought you on how Tesla was teaming up with Toyota to build electric cars in California now needs to be slightly clarified. This recent update is based on a recent IPO statement from Tesla that states that although the two companies announced their intention to cooperate on Tesla Model S electric car development, they have not made any formal agreements to do so and may never at all.

While it still remains true that Tesla and Toyota will be sharing space at the NUMMI factory as well as some strategies, it definitely brings potential investors a dose of reality as Tesla prepares to be publically traded on the Nasdaq.

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Tesla, Toyota Team for Model S Production


Toyota CEO Akio Toyoda, Tesla Motors CEO Elon Musk and California Governor Arnold Schwarzenegger held a joint press conference today in which they announced that Toyota would be teaming up with Tesla to produce the Model S electric car in California.

Tesla Model S production will take place in the recently closed NUMMI factory in Fremont. Toyota, the previous owner of the factory, will invest $50 million for a private placement of Tesla common stock and will a production system and possibly some of Toyota’s suppliers.

Schwarzenegger, for his part, offered a sales tax abatement to Tesla for all capital equipment expenditures in retooling the factory. Tesla estimates put the value of the abatement at approximately $20 million over the course of three years or so.

Tesla stated that the Model S production will likely see the return of about 1,000 of the former Toyota factory employees as they look to produce about 20,000 Model S electric cars per year. Tesla also hinted at the possibility of increasing production to a point of requiring  10,000 workers.

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The Iron Man – Tesla Connection


As you may have noticed, the Tesla Roadster made an appearance in the first Iron Man movie. The association has continued, deepened slightly even. In Iron Man 2 Tesla Motors CEO Elon Musk makes a cameo appearance as himself.

This isn’t the first time Musk has been involved in a Hollywood film as he was a producer on Thank You for Smoking in 2005 and as well as new film coming out this year called Dumbstruck.

But what is most interesting of all is the impact Musk had on the Iron Man script, simply by being who he is. When Iron Man Director Jon Favreau confided in lead actor Robert Downey Jr. that he had no idea how to make the main character, genius billionaire Tony Stark, real. Downey told him, “We need to sit down with Elon Musk.”

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Plug Pulled on the Tesla Roadster


The electric car that put Tesla on the map and gave the electric car movement a shot in the arm when it needed it, is getting the plug pulled on it barely after it was plugged-in, so to speak.

As Tesla Motors goes public for the first time, a disturbing bit of info has come out in its Initial Public Offering (IPO). The Tesla Roadster will cease to be produced in 2011 for the simple reason that Tesla won’t have anywhere to build the high-end electric sports car.

“We do not plan to sell our current generation Tesla Roadster after 2011 due to planned tooling changes at a supplier for the Tesla Roadster,” the company write in its IPO.

Since the Tesla Roadster is built by Lotus, they are probably talking about the factory in Hethel, England getting changes that will prevent production there.

The Tesla Roadster is slated to see production again, but it won’t be until 2013 at the earliest. And since we all know how these things go, that’s probably a very generous estimate.

The Tesla Model S will be launched in 2012, but that still leaves two years without any cars going out and it’s based on the assumption that everything goes as planned and production deadlines are met perfectly.

Let’s put it this way, if I were in the market for a $100,000 electric car with a 244 mile range and can go from 0-60 mph in under 4 seconds , I’d probably pick one up sooner than later.

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Twice as Many Buyers Considering Electric Cars


In the last two years the number of potential vehicle purchasers who are considering making their next vehicle an electric car, has doubled. It seems that supply and demand will be keeping pace too as the number of electric car options available to buyers is gaining serious momentum over the next year or two.

The few electric vehicle manufactories currently out there, like Tesla Motors, will have to make room as the EV market broadens with the likes of the Chevy Volt and the Nissan Leaf (pictured above).

While doubling does sound impressive, it should be noted that those considering buying an electric vehicle in 2007 amounted to all of 2%, which has now risen to 5%. So 5% of the US market looking for a car is considering an EV. It’s not exactly a green revolution, but it’s a start.

Hopefully as prices continue to drop, range is extended, and companies like Better Place are able to establish an EV charging infrastructure, we might double that number again in a couple years.

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Tesla Roadster Sport Pictures Released


It was over half a year ago that Tesla announced an amped up version of the Tesla Roadster would be made available in the Tesla Roadster Sport.

Since then we hadn’t heard much of the Sport and we had seen even less. In fact, the new images that have just been released, mark the first official pictures of the high-powered electric vehicle to be made available to the drooling public.

The Tesla Roadster Sport (pictured above finally), boasts a hand-wound stator that helps eliminate resistance while increasing peak torque, as well as a set of ultra high performance Yokohama tires. The Sport also boasts a few other little Lotus-inspired components which can be tailored to the purchasers choice.

The Tesla Roadster Sport costs a little more than its standard counterpart with a base price of $128,500.

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Tesla Motors Moving to Silicon Valley


Last year Tesla Motors announced that they would be moving their head offices from San Carlos, CA to San Jose. Then the economic meltdown happened and dried up all the funding required to make the move.

Now, with the aid of low-cost loans from the DOE, they are prepared with a new plan to move Palo Alto. The new Tesla Motors offices will occupy the three-building complex in the Stanford Research Park that was previously occupied by Hewlett-Packard.

The buildings will be renovate to accommodate the Tesla’s research and engineering staff, head offices, as well as the new powertrain manufacturing facility.

Tesla is likely hoping to tap into the same mix of talent and money that has helped make so many wildly successful companies come out of Silicon Valley. Will it lead to a Tesla Model S (pictured above) with a 500-mile range, near-instant charging, for a retail cost of $19,000? Well, maybe that’s asking for too much, but we can dream.

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Bank of America Financing Purchases of Tesla Roadsters


If you’ve been dreaming of a Tesla Roadster sitting in your driveway, or better yet, ripping through the countryside like a silent, emission free torpedo, but don’t quite have enough to pay cash for the over $100,000 electric sports car, you might be making a trip to the Bank of America.

Bank of America has worked out an agreement with Tesla Motors to offer financing for the Roadster.

While the terms of the Roadster financing hasn’t been stated, we can assume it still won’t be cheap since for the same price you could probably buy four homes in Detroit and a couple condos in Las Vegas.

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Tesla Gets $465 Million From Government


Tesla and the Department Of Energy recently announced that the California Electric Vehicle maker will get two loans totaling $465 million from the Advanced Technology Vehicle Manufacturing program (ATVMP). $100 million will be used to set up an electric powertrain manufacturing plant to provide components such as motors and battery packs to other automakers.

The majority of the money, $365 million, is allocated for production engineering and a factory to build the Model S. Both factories are expected to be built in existing facilities and Tesla is in negotiations for locations in California. Tesla hopes to start production of the sedan by the end of 2011.

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