Tesla Motors
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Tesla founder quietly dismisses lawsuit against the company, Musk
Remember that time, way back in June, when we told you that former Tesla Motors exec Martin Eberhard was suing the company and its chief (a certain Mr. Elon Musk) for sundry offenses, including forcing him out of the company, wrecking his car, and besmirching his good name? According to the San Jose Business Journal, the suit was quietly and unceremoniously dropped on August 7 at the request of Eberhard. Of course, the most likely explanation for this turn of events (besides Eberhard's suddenly finding his Zen and deciding to drop out of the material world for a life of quiet contemplation) is a settlement of some sort. Maybe he's getting that coveted roadster after all? According to The Register, a Tesla spokesperson refused to "speculate on why Eberhard dropped his suit." When pressed for a follow-up, the same site received an automated reply: "I am on vacation".[Via The Register]
Joseph L. Flatley08.24.2009
Tesla founder sues Tesla, Elon Musk
Tesla's done a good job keeping itself out of the courtroom recently, but the good times don't last forever -- founder Martin Eberhard has just sued the company and CEO Elon Musk for libel, slander, and breach of contract. Eberhard claims that after he and Mark Tapenning founded Tesla, he was summarily pushed out of the company by Musk, wrongfully denied his severance package, and then disparaged both publicly and within the company -- and on top of it all, Musk sent the second Roadster produced out for "endurance testing" where it was wrecked instead being sold to Eberhard as promised. Ouch. Interestingly, the core of the lawsuit directly mirrors the suit filed former PR director David Vespremi over the same series of events, so it seems like there's a pattern here, but we'll see how much of this is true when Tesla and Eberhard face off in the courtroom -- our friends at Autoblog Green just received this statement from legendarily-prickly Tesla PR spokesperson Rachel Konrad: This lawsuit is a fictionalized, inaccurate account of Tesla's early years -- it's twisted and wrong, and we welcome the opportunity to set the record straight. Incidentally, Tesla will also be filing counterclaims and in the process present an accurate account of the company's history. Yeah, we'd say there are some fireworks brewing. Stay tuned.Read - Autoblog GreenRead - WiredRead - Eberhard's complaint [Warning: PDF]
Nilay Patel06.11.2009
Daimler buys 10% stake in Tesla, offers parts and know-how
Daimler and Tesla have been working together in a limited capacity for some time now, but the two made their relationship official in a pretty big way earlier today, with Daimler announcing that it has bought a 10% stake in Tesla, and that it'll be lending a hand with both parts and engineering. Of course, as with most things Tesla, there's no firm price tag attached to the deal, although it's said to be in the "double digit millions." They're a bit more specific when it comes to the working relationship, however, which will apparently include Tesla "leveraging Daimler's engineering, production and supply chain expertise" in ways that'll "accelerate" bringing the Model S to production. Tesla will also reportedly work on battery pack integration and battery management systems for Daimler from here on out, and the two will continue to collaborate on Daimler's second-generation Smart ED electric vehicle that's slated to go into production later this year. Interestingly, as AutoBlog points out, the deal also gives Tesla access to the automotive lithium-ion cells being produced by Daimler subsidiary Li-Tec which, when we're talking about electric vehicles, is no small thing.
Donald Melanson05.19.2009
Tesla reportedly snags some funding from GE (updated)
This isn't fully official just yet, but a recently leaked Car and Driver interview with Tesla CEO Elon Musk looks to have all but confirmed that the company received some funding from GE Capital as part of its current $40 million haul. While the exact amount GE has invested isn't clear, the company is apparently the second-largest investor in this round of financing, behind only Musk himself. As you're no doubt aware, this is on top of the $350 million in loans that Tesla is apparently close to securing from the U.S. government, which isn't exactly enough for it to rest easy given its ambitions, but is at least slightly encouraging for folks itching to get behind the wheel of a Model S. Musk even goes one step further in an attempt to assure potential customers in the interview, saying that "even in the worst case of an Armageddon scenario, I'll personally refund people [their money] if need be," adding quickly that he thinks there's "very little danger of that."Update: According to Earth2Tech, this deal is off the table... and may have never been on it to begin with. GE Capital was apparently "closely watching" Tesla, but there had been no official deal. When the site reached out to Tesla, here's what they had to say:GE had committed to invest in Tesla and sent an e-mail confirming the investment, but GE backed out on the day it was supposed to wire funds to Tesla. The decision came after GE went into company-wide capital conservation mode.So, really, no kind of investment at all. If you were a Tesla shareholder, you'd probably be thinking about putting a tighter leash on Elon Musk right around now.Update 2: Here's a statement directly from Tesla:GE has not invested in Tesla.When Car & Driver interviewed Elon Musk a couple months ago, GE had committed to invest in Tesla and had sent an e-mail confirming the investment. But GE backed out on the day it was supposed to wire funds to Tesla. The decision came after GE went into company-wide capital conservation mode.In any case, GE's investment allocation was taken up by venture capital firms Westly Group, Technology Partners and Draper Fisher Jurvetson, and Tesla closed the $40 million round without a problem earlier this year.Read - GE Invests In TeslaRead - GE "Watching" Tesla, Does Not (Yet) Invest
Donald Melanson03.30.2009
Tesla CEO says Model S isn't really expensive, when you think about it
With a promised price tag of less than $50,000 (after a $7,500 federal tax credit), the new Tesla Model S sedan is certainly a good deal cheaper than Tesla's pricey roadster, not to mention its competitors, but according to Tesla CEO Elon Musk, it's actually quite a bargain compared to your run-of-the-mill sedan as well. As Musk tells it, "the ownership cost of Model S, if you were to lease and then account for the much lower cost of electricity versus gasoline at a likely future cost of $4 per gallon, is similar to a gasoline car with a sticker price of about $35,000." Musk further adds that the Model S would still be a bargain "even if gasoline were $1 per gallon," saying that it costs just $5 to drive 230 miles. Of course, all of that assumes that you'll actually be able to get your hands on the car one of these days, but Musk seems confident that'll happen as well, saying that the company is "close" to receiving $350 million in loans from the U.S. Department of Energy, which would be used to build the plant in California that would manufacture the Model S.
Donald Melanson03.27.2009
Tesla can't get funding, postpones plans to build new factory
Looks like Tesla's decision to jack up options pricing on the Roadster to make the company's financials more enticing to investors didn't necessarily pay off: the company failed to score the required $100m in private funding needed to start building that new factory and HQ in San Jose. The new plan is to request some $400m from the government's Advanced Technology Vehicle Manufacturing Program and spend it on both the planned facility and an advanced battery and powertrain lab -- which might mean Tesla would have to move elsewhere, since the ATVM requires the money to be spent rehabilitating an older factory. We'll see how this one plays out -- although we're still in love with the Roadster, Tesla itself always seems to be one stroke away from catastrophe.Update: Tesla got in touch -- full statement below.[Via Gearlog]
Nilay Patel02.02.2009
Shelby's amazing Aero EV: 0 to 60 in 2.5 seconds, 10 minute recharge
Man juices in a boil? No shame, that's Shelby Super Cars' Aero EV in pursuit of the "world's fastest production electric car" title. SSC just came clean with the details behind its All-Electric Scalable Powertrain (AESP) producing 1,000 horsepower and 800 lb-ft of torque that rips the Aero EV through 0 to 60 in just 2.5 seconds at a 208mph top speed. Compare that to the Tesla Roadster's 0-60 in 3.9 seconds (or 3.7 for the 2009 sport model) and you'll understand all the hubbub, bub. Better yet, the 150-220 mile battery can be refilled in just 10 minutes (Tesla takes 3.5 hours) from a 220V service thanks to what SSC calls its "Charge on the Run" onboard charging system -- something that nearly eliminates (or at least minimizes) the need for a battery swapping infrastructure. The first full-scale, pre-production Ultimate Aero EV should be on the streets before June with production deliveries expected in the fourth quarter. Now we just need a price.%Gallery-43239%[Via inhabitat]
Thomas Ricker01.27.2009Tesla admits to underpricing Roadsters, still hopes profitability is near
Here's a tip: you should probably research the bill of materials before pricing the item you're building to sell. In an effort to calm down potentially irate early buyers, Tesla Motors Elon Musk has issued an email confessing that it had no idea actual production costs for the $92,000 Roadster would run closer to $140,000. The automaker is hoping the changes in "manufacturing approaches, the car's drive train, heating and air conditioning system, wiring and even the supplier of body panels" will lower production costs to somewhere between $90,000 and $100,000 soon, which certainly gives a little insight into the $128,500 starting price of the recently unveiled Roadster Sport. In order to recoup some of the losses, Tesla is asking pre-orderers to pony up an extra six large for a high-speed charging cable and custom wheels -- both of which consumers were expecting to be included in their original purchase price. At any rate, the firm is aiming to get build costs down to $80,000 by summer, with profitability following close behind. And you thought the automotive problems began and ended in Detroit.[Via Edmunds]Update: Response from Tesla is after the break.
Darren Murph01.22.2009
Tesla revs up more powerful Roadster Sport: starts at $128,500
Don't even bother with that BRABUS overhaul, as you can now get a Roadster with 15 percent more peak power and a 0 to 60 time of 3.7 seconds right from the factory. Out of seemingly nowhere, Tesla Motors has just announced the lovingly refined Roadster Sport, which arrives with a hand-wound stator and increased winding density for lower resistance and higher peak torque. You'll also notice Yokohama Ultra High Performance tires, improved suspension with adjustable dampers and anti-roll bars that will be tuned to the driver's preference. The automaker is taking orders now in the US ($128,500 and up) and Europe (starts at €112,000), with deliveries slated to begin in late June -- oh, and if you're currently on the waiting list for a standard Roadster, you most certainly can scratch the upgrade itch.
Darren Murph01.11.2009
Tesla Motors burns out another as Darryl Siry signs off
Apparently the fear of snapping up another job after ditching the green fields of Tesla Motors isn't on Darryl Siry's mind, as the SVP of Marketing and Sales has publicly admitted to leaving the company over "disagreements in strategy." The news comes but 1.5 months after Elon Musk made himself CEO and told a few others to stay happy elsewhere, and while Darryl's replacement wasn't directly named, Siry does outrightly state that he has only remained on this long to recruit "a very strong successor." The best part of his farewell? This gem: "So what now? I have no immediate plans but look forward to exploring various opportunities that I find out there." Translation? I'm so loaded after my stint in this place, it doesn't even matter, holmes.[Via Autoblog]
Darren Murph12.02.2008
Better Place's $1 billion electric vehicle grid headed to Bay Area
Need another reason to live in America's other bastion of social liberalism and homelessness? How about a $1 billion electric vehicle re-charging infrastructure in the Bay Area? Palo Alto's Better Place is finally bringing its ambitious, city-wide electrical grid and battery exchange service home after staking plans to do the same in Israel, Denmark, and Australia. The plan just endorsed by the San Jose, Oakland, and San Francisco Mayors (without coughing up any money), is expected to result in 250,000 charging ports (for topping off charges), 200 battery-swap stations (for trips over 100 miles), and a driver service center by 2012 -- network planing and permitting will begin in 2009 with infrastructure deployment set to kickoff in 2010. Here's how it works, customers will receive a discounted price on electric vehicles when they subscribe to drive a certain number of miles -- Better Place will own the batteries. Besides clearing the way of government bureaucracy, the mayors have agreed to offer incentives for companies that install the plug-in stations. Now get this, Better Place expects to lure electric vehicles from the usual suspects like Toyota, Renault-Nissan, and GM in addition to, get this, Tesla Motors. Oh yes. Almost makes us want to hug an Upper Haight, teenage, poser hippie. Almost.Update: Coincidentally, Tesla is considering a small, swappable battery for its Model S sport sedan that, according to Elon Musk, could be changed "faster than you can fill a car with gasoline." Ah, synergy.[Via San Jose Mercury News, Thanks KKH]
Thomas Ricker11.21.2008
Judge sides with Fisker in Tesla arbitration case
It started out with allegations of stolen secrets and quickly gave way to plenty of jokes involving "bad karma" before ultimately winding up an in arbitration, and it now looks like the legal tussle between Tesla Motors and Henrik Fisker of Fisker Automotive has finally come to a close. That lawsuit, as you may recall, had accused Fisker (who worked on Tesla's WhiteStar sedan) of stealing Tesla's hybrid technology and using it in Fisker's own car, the Fisker Karma. The judge in the case apparently couldn't disagree more with Tesla's claims, however, and has now cited "overwhelming" evidence in ruling in Fisker's favor. For it's part, Tesla simply said that, "we disagree with the ruling, and we're focused on producing and shipping cars to our customers," while Fisker is expectedly taking the opportunity to gloat a bit, saying that the ruling "completely vindicates" Fisker.[Via AutoblogGreen]
Donald Melanson11.03.2008
Tesla's 4-door, all-electric Model S sports sedan gets pictured
We knew good and well it was on the way, but now we're bubbling over with excitement. The forthcoming Model S -- an all-electric, five passenger sports sedan that will ride on a platform developed entirely by Tesla -- has apparently been revealed. Of course, there's still a real possibility that the image you're drooling on above isn't a finalized look, but Road & Track has a pretty good record to fall back on. We're also hearing that the 2010-bound whip will get around 240 miles per charge while still doing the zero to sixty in under six ticks, and the $60,000 base price just makes it all the more appealing. For those with a thing for rear bumpers, check out Autoblog's link below for a sneak peek of the fanny.Read - Road & Track writeupRead - Sneak peek of the rear
Darren Murph10.24.2008
Tesla exec shuffle: Elon Musk appoints himself CEO, lays off staff
The drama never stops at Tesla Motors -- following a morning of feverish rumors, the company has officially announced that it's replacing CEO Ze'ev Drori with board chairman Elon Musk. Tesla says that Drori will remain "active" with the company as a vice chairman of the board, but it looks like it's now more Musk's company than ever before -- and his first order of business is apparently to lay off staff to get the company "cash positive" in the next six to nine months. Other than the closing of the Detroit Tesla office, it's not clear what the layoffs will entail -- Musk say they'll be "modest" -- but hopefully we'll start to see more cars and fewer headlines from the upstart electric car company in the near future. Read - CNET report Read - Elon Musk blog post
Nilay Patel10.15.2008
Tesla CTO talks Bluestar, the affordable electric auto
Despite not making any lusty noises when tearing away from a stoplight, Tesla's eco-friendly supercar the Roadster still sets our hearts aflutter. Its price, however, makes our bank accounts sad, so we're happy to report the company is still working hard to develop an affordable option dubbed "Bluestar." Tesla CTO JB Straubel recently spoke about green transportation at MIT's Emerging Technologies Conference, elaborating on earlier plans to build a $20,000 - $30,000 family car that, he hopes, could some day result in hundreds of thousands of sales per year. Given the company thus far has shipped just 27 cars, a partnership with some major automotive player will almost certainly be required, and as SUV-dependent 'Merican manufacturers continue to suffer we think any of them would be wise to play along.
Tim Stevens09.25.2008
Tesla readies new transmission, ramping production
To date, since production began in March, 27 Tesla Motors Roadsters have been delivered. Now the production rate is expected to ramp considerably thanks to a deal with BorgWarner to build the enhanced "Powertrain 1.5." The Telsa designed, single-speed gearbox is expected to help provide 30% more power allowing the Roadster to once again accelerate from 0 to 60 in 3.9 seconds as it did with the original, flawed, two-speed transmission. It's also more efficient resulting in an extended, 244-mile range (221 miles currently) from a single charge. All Roadsters equipped with the interim transmission will be upgraded free of charge. Tesla says that it will now ramp production to 10 Roadsters per week, hitting 20 per week within a few months, and 40 per week by early 2009. Most of which we expect to find riding the PCH in total, luxurious, battery-powered silence.
Thomas Ricker09.10.2008Tesla to supply Mercedes-Benz with lithium-ion batteries?
Man, Tesla's been busy today -- in addition to the announcement of the Model S and Elon Musk's promise of a sub-$30K electric car in four years, word on the street is that the company's inked a deal with Daimler AG to supply it with lithium-ion batteries for upcoming electric cars. Daimler's CEO has said the company was open to leasing battery tech to get out an electric Smart by 2010 and it's rumored that the German marque is looking to ditch gas entirely by 2015, so going to Tesla, which has been working on battery tech for some time, isn't a totally out there proposition. Just a rumor for now -- given Tesla's generally-prickly relationships with others, we'd wait for an official announcement before getting too excited about a Roadster-powered SLR, but it's certainly intriguing.
Nilay Patel06.30.2008
Tesla's Elon Musk promises sub-$30k all-electric car in less than four years
Yes -- more breaking electric car news! Just after Tesla CEO Ze'ev Drori announced Telsa's plans to build the Model S, Elon Musk began discussing its development of electric car tech to get the price of future cars to (and below) $30,000. When asked when that technology would be commercially available, Musk said that it shouldn't be any more than four years from now. Granted, a $60,000 car is affordable but still quite steep for most buyers -- but a vehicle mass-produced at half the price is essentially mainstream, which could have a substantial impact on the automotive world.[Image courtesy of Edmunds]
Joshua Topolsky06.30.2008
Tesla announces the Model S: a $60k, all-electric, five passenger sports sedan
Our favorite Terminator (and Governor of California) Arnold Schwarzenegger has just helped Tesla Motors make an announcement that's probably sending chills through traditional automaker's boardrooms. The company has just introduced a fully-electric, five passenger sports sedan dubbed the Model S, which will be selling for $60,000, and will manage 225 miles on a full charge. The carmaker says it will produce the vehicles in a brand new manufacturing plant it's opening in Northern California. We're on the ground at the announcement right now -- no pictures or release date have surfaced yet, but you'll know more as soon as we do.
Joshua Topolsky06.30.2008
Los Angeles becomes home to Tesla Motors' first dealership
Nary two months after the Tesla Roadster finally hit production, the automaker's first dealership has swung its doors wide open. Not surprisingly, the establishment is planted in gridlock heaven, better known as Los Angeles, California. Even less shocking is the fact that it opened at one of the busiest intersections in the city -- near the practically useless (we kid... sort of) 405 freeway and the always-packed corner of Santa Monica and Sepulveda boulevards. Of course, the 10,000-square-foot dealership isn't exactly rolling cars off of the showroom floor just yet (something about a lingering transmission issue), but it's hoping the $2 million cost of construction more than pays itself off in a couple of years. And if you're hankering for a Tesla Motors store near you, you can look forward to others popping up in Menlo Park (CA), New York, Miami, Seattle and Chicago in the next year or so.
Darren Murph05.04.2008