The sustainable energy project turned into Tesla Motors, and that seems to be going well after years of struggles and naysayers. "If I had a dollar for every time someone brought up DeLorean or Tucker I wouldn't need to IPO," Musk said in … Read more
In what could be viewed as a shot in the arm for U.S.-made electric cars, Tesla Motors has repaid a government loan nine years early.
"Today, Tesla Automotive repaid the entire remaining balance on a $465 million loan from the Department of Energy nine years earlier than originally required," the U.S. Department of Energy said in a statement Wednesday.
That clean-energy loan was made in 2010.
And the U.S. energy secretary, Ernest Moniz, seemed to address critics of clean energy loans while trumpeting the success of Tesla.
"When you're talking about cutting-edge … Read more
At Tesla's sunny headquarters in Palo Alto, Calif., I asked CTO JB Straubel when to expect the next model upgrade for the Model S. He quickly dismissed the automaker cliche of updates based on model years, saying that Tesla would release new features for the Model S as his team finished creating them.
One of the Model S' great strengths, beyond its zero emissions, minimal running costs, excellent driving character, and luxury appointments, is that Tesla can deliver over-the-air updates to its cabin electronics.
And those updates can be very extensive, as the Model S features few hard controls. … Read more
Tesla's stock is on a roll following the electric car company's blockbuster first quarter.
As of about 9:15 a.m. PT Thursday, shares had already risen almost 25 percent in trading, reaching close to $70 apiece.
Investors were clearly geared up by Tesla's first-quarter results, in which the company reported a profit of $11 million, its first time in the black since it launched 10 years ago. The company also witnessed an 83 percent jump in revenue, which hit $562 million.
Some Apple talk may also have aroused investor interest.
In an interview with Bloomberg published … Read more
In his quarterly earnings letter to shareholders on Wednesday, Tesla CEO Elon Musk announced that "Tesla reached profitability in the first quarter of 2013 for the first time in our 10-year history."
Not only did the electric car company exceed analyst expectations, but Musk said (PDF) Tesla even outdid its own expectations for deliveries and gross margin. The company reported adjusted earnings of 12 cents per share on revenue of $562 million, which is far higher than the expected 3 cents per share. Its profit was $11 million after charges.
Tesla's total revenue for the first quarter … Read more
Tesla, the electric car maker, has been in talks with Google about the development of a self-driving car, the former's CEO revealed Tuesday.
In a Bloomberg interview, Tesla CEO Elon Musk said that his company has "had some technical discussions with Google" about the search giant's self-driving car technology. However, he pointed out that the technology that Google uses, which is based on laser sensors to detect what's around, is too expensive to be feasible anytime soon.
Instead, Musk told Bloomberg, he'd like to see a camera-based system that "sees" what's … Read more
Thor's hammer + Tesla coil = zzzzap. Before we get into this, let's talk about safety. You probably shouldn't try this at home. Or at work. Or pretty much anywhere else. We're talking 80,000 volts of electricity. Unless you really know what you're doing, don't try to mess with the elemental forces of nature that were harnessed for this project.
Caleb Kraft from Hackaday and Tesla coil expert Staci Elaan teamed up to bring a comic book legend to life. To make Thor's hammer, Mjolnir, truly summon lightning, they had to provide the lightning in the form of a solid-state Tesla coil embedded into a foam prop. At the push of a button, 80,000 volts of electricity arc from the hammer's top.… Read more
Last month Tesla said a new financing arrangement would make the Model S cost a mere $500 a month. Following critique in the press of Tesla's creative accounting, CEO Elon Musk announced revisions to the financing plan, now citing a net cost of $580 per month.
The two substantive changes to Tesla financing involve a revised resale value guarantee and longer term loans from partners Wells Fargo and U.S. Bank.
With the longer term loans, Tesla says the per-month cost of a Model S will be $580, taking into account the savings gained by running the car on … Read more
Tesla announced today that it would offer its high-end Model S Performance edition, with an 85 kilowatt-hour battery pack, and the Roadster as loaner cars for when owners' cars are being serviced. As Tesla sells cars directly to owners, the company, rather than a dealer, handles all service and loaner-car issues.
No matter what Model S version is in for service, owners will have their choice of the Model S Performance edition, which retails for $87,400, or one of the older Roadster models as a loaner car. Further, Tesla said it will let owners who would like to upgrade … Read more
There's the possibility that Tesla may be looking to make its luxury all-electric cars a tiny bit more affordable. The company's CEO Elon Musk tweeted Thursday that Tesla will announce some big news on Friday.
Announcement of new @teslamotors strategy tomorrow. Tesla owners will like this.— Elon Musk (@elonmusk) April 25, 2013
While no further information is given, this tweet does offer some clues into what Musk may be suggesting. The fact that he mentioned it will be something "Tesla owners will like" harkens back to a similar tweet from last month.
After tweeting about an … Read more