Autoblog

2012 Tesla Model S [w/video]

Michael Harley — Tue, 11 Sep 2012 11:57:00 EST

Filed under: Sedan, Performance, Hatchback, First Drives, Tesla, Electric

Proof That An Impressive Sport Sedan Doesn't Need To Burn Dead Dino Juice

One-hundred years from now, the Smithsonian museum at our nation's capital will host a display of history's most revolutionary automobiles. The collection will include the 1866 Dudgeon steam wagon (one of the earliest self-propelled vehicles), the 1886 Benz Patent-Motorwagen (recognized as the first combustion-powered automobile) and the 1908 Ford Model T (the first automobile mass produced on an assembly line).

Most certainly included, among the dozen or so other pioneering automobiles, will be a 2012 Tesla Model S.

Slightly more than a few years after the first prototype debuted in March of 2009, Autoblog was able to spend an evening with an early production model of the innovative all-electric sedan touted as "the next step to accelerate the world's transition to electric mobility." Much has been said and written about Tesla's enormous undertaking, but we brushed off the hype, ignored the rumors and cut through the layers of misinformation. It was time to drive.

After several inquisitive hours behind the wheel, we were smitten - the Tesla Model S really is the world's first practical, no-compromise, non-combustion automobile.

Continue reading 2012 Tesla Model S [w/video]

2012 Tesla Model S [w/video] originally appeared on Autoblog on Tue, 11 Sep 2012 11:57:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Mercedes to market Tesla-powered 2014 B-Class EV in U.S.

Chris Tutor — Thu, 05 Jul 2012 08:29:00 EST

Filed under: Hybrid, Technology, Hatchback, Mercedes-Benz, Smart, Toyota, Tesla, Electric

Looks like another Tesla Motors investor will be looking to cash in on their connection. Autoweek reports Mercedes-Benz will offer their B-Class in the U.S. with Tesla propulsion.

The magazine says their source at the German automaker confirms plans for a B-Class electric-only vehicle. While Tesla already provides battery packs for the battery-powered Smart ForTwo, the B-Class EV will reportedly have Tesla batteries, motor and other components. U.S. residents should be able to procure one sometime in 2014.

The same Mercedes source says plans for a hybrid B-Class have been postponed for now. Adding a range-extending, gasoline-powered engine to an electric vehicle would put the car into a different class for which rebates and incentives aren't as favorable in the States.

Mercedes-Benz parent Daimler owns a 4.7-percent share of Tesla. Toyota also owns part of the electric-car company with which it builds electric RAV4 crossovers.

Mercedes to market Tesla-powered 2014 B-Class EV in U.S. originally appeared on Autoblog on Thu, 05 Jul 2012 08:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Tesla Motors pays fine for lacking emissions Certificate of Conformity

Autoblog Staff — Thu, 26 Aug 2010 08:59:00 EST

Filed under: Government/Legal, Earnings/Financials, Tesla, Electric

Sometimes, technology moves faster than rules and regulations. For instance, in some parts of Kansas, shops must provide water troughs for horses. A more recently inanity is the requirement that electric vehicles receive an emissions "Certificate of Conformity" from the EPA to comply with the "Clean Air Act." And, while Kansan storekeepers have long been excused from abiding by the obviously obsolete ordinance, such is not the case for America's best known electric car maker, Tesla Motors.

In its Securities and Exchange Commission 10-Q filing for the quarter ending on the 30th of June, Tesla noted that expenses may be incurred from complying (or, in this case, not complying) with the myriad regulations that govern the activity of providing automobiles for sale to the public. As an example of such, it mentions being found in contravention of the requirement to have the aforementioned certificate for the vast majority of 2009. It had the necessary document in 2008. As a result, it and the EPA:

...entered into an Administrative Settlement Agreement and Audit Policy Determination in which we agreed to pay a civil administrative penalty in the sum of $275,000...

Ouch. While it may seem as if Tesla shouldn't need such documentation since its products don't even have a tailpipe, the fact that the company had the proper certification in '08 means it should have known better in '09. Live and learn, eh?

[Source: Tesla Motors via EVTV]

Tesla Motors pays fine for lacking emissions Certificate of Conformity originally appeared on Autoblog on Thu, 26 Aug 2010 08:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Video: Elon Musk chats it up on The Colbert Report

Jeremy Korzeniewski — Thu, 29 Jul 2010 19:26:00 EST

Filed under: Videos, Celebrities, Humor, Tesla, Electric

Elon Musk on The Colbert Report - Click above to watch the video after the jump

Elon Musk apparently has a sense of humor. Proof of which can be found in the video after the break, where you'll see the co-founder of Paypal, Tesla Motors and Space X sit-down with Stephen Colbert of Comedy Central's The Colbert Report.

As always, Colbert takes a lighthearted slant with the interview, making a few comic-relief jabs along the way. For instance, after detailing Musk's seemingly heroic take on the automotive and space exploration industries, Colbert point-blank asks Musk whether he's a super hero or a super villain. We'll let you figure that one out...

Our favorite quote, though, is this: "You have these electric cars that uses no fossil fuels, but then you've also got this rocket, this Space X that puts the rocket into space, using about as much fuel as 2,000,000 Hummers. So... are you just trying to break even as spectacularly as possible?"

There are plenty more gems in the video, and we don't want to spoil the whole thing for you. So just check out the video after the break.

[Source: The Colbert Report]

Continue reading Video: Elon Musk chats it up on The Colbert Report

Video: Elon Musk chats it up on The Colbert Report originally appeared on Autoblog on Thu, 29 Jul 2010 19:26:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Tesla and Toyota to develop RAV4 EV, hope to launch in 2012

Autoblog Staff — Fri, 16 Jul 2010 10:59:00 EST

Toyota RAV4 - Click above for high-res image gallery

Toyota and Tesla have officially announced that the electric prototypes being developed by the California startup are based on the RAV4 crossover, and the two companies hope to have a production version ready by 2012. When we sat down with Toyota CEO Akio Toyoda last week, he revealed that an initial prototype was being built with a Tesla electric powertrain. Since then, Tesla CTO JB Straubel revealed that his engineering team was preparing two vehicles based on an existing Toyota platform for delivery by the end of July.

If the project comes to fruition, it will be great news for fans of the original RAV4 EV which debuted in the late 1990s. Several hundred of those vehicles are still on the road today and regularly turn up for sale on eBay Motors at premium prices.

The new RAV4s will use Tesla's liquid cooled lithium ion battery configuration that contains thousands of commodity laptop cells. The first prototype is already running and a larger fleet will be prepared this year for durability testing by Toyota.

Gallery: 2009 Toyota RAV4

[Source: Tesla]

Continue reading Tesla and Toyota to develop RAV4 EV, hope to launch in 2012

Tesla and Toyota to develop RAV4 EV, hope to launch in 2012 originally appeared on Autoblog on Fri, 16 Jul 2010 10:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

MT: Electric supercar from Toyota in the works?

Jeremy Korzeniewski — Fri, 16 Jul 2010 09:59:00 EST

Filed under: Coupe, Performance, Toyota, Rumormill, Tesla, Electric

We're taking this news with a grain of salt for now, but Motor Trend is reporting that Toyota is hard at work on a fully electric supercar. If there's any truth to this report, Toyota President Akio Toyoda was so impressed after a spin in Elon Musk's Tesla Roadster that he immediately green-lit a feasibility study into the electric supercar project.

Lending at least an air of credence to this story is the fact that Toyota and Tesla are indeed working together in some as-yet-unknown capacity, and rumors of electric Toyota SUV mules powered by Tesla battery packs have abounded ever since the announcement was made. That said, some existing platforms converted to electric drive is a far cry from a completely new electric supercar.

In any case, Toyota's supposed electric supercar would theoretically go up against the likes of the Mercedes-Benz E-Cell, Audi e-tron and whatever BMW's Efficient Dynamics movement has cooking up. We should also point out that Toyota has indeed shown off a number of hybrid sportscar and electric vehicle concepts over the last few years, so such a project wouldn't be completely out of the blue.

[Source: Motor Trend]

MT: Electric supercar from Toyota in the works? originally appeared on Autoblog on Fri, 16 Jul 2010 09:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Report: Tesla CTO confirms building two mules for Toyota

Sam Abuelsamid — Sun, 11 Jul 2010 15:35:00 EST

Filed under: Toyota, Tesla, Electric

AutoblogGreen had the rare opportunity on Friday to chat with Toyota CEO and president Akio Toyoda. During the conversation, he revealed that a prototype vehicle with a Tesla electric drive unit was under construction. Tesla's Chief Technology Officer, J.B. Straubel, has confirmed this to CNN Money, saying that the Silicon Valley company is indeed preparing two mule vehicles for Toyota. Tesla battery packs, power electronics and motors are being installed into Toyota bodies.

Straubel expects to deliver the vehicles to Toyota by the end of of this month. Toyota officials told ABG that the initial plan is to just test the performance and durability of the Tesla packs to determine whether they meet Toyota standards. If Toyota proceeds with a production program using a Tesla-style battery (employing small laptop-type cells) it will be for a new vehicle, not the iQ-based EV arriving in 2012.

[Source: CNN Money]

Report: Tesla CTO confirms building two mules for Toyota originally appeared on Autoblog on Sun, 11 Jul 2010 15:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Tesla hires former Apple retail strategist to revolutionize buying experience

Jeremy Korzeniewski — Thu, 08 Jul 2010 16:40:00 EST

Filed under: Car Buying, Hirings/Firings/Layoffs, Tesla, Electric

Tesla has, if nothing else, crafted a unique automobile in the Roadster. It's electric, very attractive and highly desirable. Up next, assuming all goes according to plan (a rather big assumption, granted), the Model S sedan will be equally special in the global automotive marketplace.

Such machines deserve an equally unique buying experience and the Silicon Valley firm has hired former Apple and Gap Executive George Blankenship to turn that idea into reality as Vice President of Design and Store Development.

Blankenship will go right to work, with his initial projects said to include opening Tesla Stores in Tokyo, Toronto and Washington, DC. For his part, Blankenship sounds ready to take on the project, saying:

Joining Tesla allows me to work with some of the boldest and brightest people on the planet while changing the world for the better. I'm excited to create a retail experience that is as thrilling as my first drive of the Tesla Roadster.

Judging from his past efforts, we are expecting big things from Tesla's retail developments... and it sounds like Elon Musk got a head start on his wish to make his Tesla Stores "a cross between an Apple Store, a Starbucks and a good kitchen."

[Source: Tesla]

Continue reading Tesla hires former Apple retail strategist to revolutionize buying experience

Tesla hires former Apple retail strategist to revolutionize buying experience originally appeared on Autoblog on Thu, 08 Jul 2010 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Tesla shares in freefall, now below IPO price

Jeremy Korzeniewski — Wed, 07 Jul 2010 08:39:00 EST

Filed under: Earnings/Financials, Tesla, Electric

After rising 41 percent on the first day of trading, stock in Tesla Motors has been in an alarming freefall. Yesterday, shares of Tesla Motors fell another 16 percent, landing below their initial offering price of $17 each. For those keeping track of such things, company head and largest shareholder Elon Musk's shares are now worth $433 million, a good bit less than their $457 million value after the IPO.

We're clearly not experts on the subject, so we'll tell you what more qualified people have to say. According to Josef Schuster, the Chicago-based founder of IPOX Capital Management LLC, "The company is a great concept with relatively weak fundamentals. Markets are weak and in a weak market right now this is hurting the company even more."

Financial expert Michael Holland explains, "They brought this thing into a market that was not rewarding hype... The stock did get its pop, and now it's plagued by the reality of the marketplace. The reality of the marketplace is that people aren't paying for dreams and visions."

[Source: Business Week, MarketWatch]

Tesla shares in freefall, now below IPO price originally appeared on Autoblog on Wed, 07 Jul 2010 08:39:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Tesla unveils refreshed Roadster 2.5

Sam Abuelsamid — Thu, 01 Jul 2010 11:29:00 EST

Filed under: Convertible, Performance, Tesla, Electric

Tesla Roadster 2.5 - Click above for high-res image gallery

In conjunction with the opening of its two newest stores in Copenhagen, Denmark, and Newport Beach, California, Tesla has unveiled the fourth major production iteration of its only current product, the Roadster. Dubbed the Roadster 2.5, in proper Southern California fashion, the revised electric sports car gets a nose job and fanny lift.

Up front, the latest Roadster gets a reshaped grille similar to the one found on the Model S that reflects Tesla's design language going forward. At the back, a new rear bumper now incorporates a diffuser element, although it's not known if it actually generates any downforce. Inside, the seats have again been reworked to improve comfort, and the finish of surfaces has been improved to better reflect the car's price tag. A seven-inch touchscreen display with a backup camera is available as an option, and it should viewed as a welcome addition for Roadster drivers to protect that new rear end.

There don't appear to be any powertrain changes to the 2.5 and no information about pricing has been revealed. Some of the upgrades will apparently be available to current owners that want to retrofit their cars, however. Want to learn more? Pour over our high-res gallery below and then head past the jump for the official press release.

Gallery: 2011 Tesla Roadster 2.5

[Source: Tesla]

Continue reading Tesla unveils refreshed Roadster 2.5

Tesla unveils refreshed Roadster 2.5 originally appeared on Autoblog on Thu, 01 Jul 2010 11:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

BREAKING: Tesla shows future products in IPO road show, liquid-cooled motor and electronics

Autoblog Staff — Mon, 21 Jun 2010 15:40:00 EST

Filed under: Convertible, Minivan/Van, Sedan, Performance, Crossover, Hatchback, Earnings/Financials, Tesla, Electric, Luxury

Tesla future models - Click above for more slides from the road show

The long-delayed initial public offering for Tesla Motors is expected to happen as early as next week. Naturally, then, company CEO Elon Musk now has to go out and sell it. One of the last steps before the stock's on-sale date is the Road Show, where executives go before the mavens of Wall Street to convince them of the value of the company.

Slide #19 of Musk's Powerpoint gives us the first glimpse of what might come after the Model S, which includes a cabriolet, van and crossover. All will be built on a common platform with the Model S and will mount the battery pack under the floor in a similar manner to the Nissan Leaf. The cabriolet, in particular, is quite the stunner and should provide a real competitor to the Fisker Karma Sunset.

Among the other changes that Musk revealed are liquid-cooled power electronics and motor starting with the Model S. While this will add to the cost and complexity of the powertrain, it should help improve the overall efficiency and overcome some of the limiting factors that were found late in the development of the Roadster. The full Tesla prospectus is available here and you can watch the Road Show here.

Gallery: Tesla future models

[Source: Retail Road Show]

BREAKING: Tesla shows future products in IPO road show, liquid-cooled motor and electronics originally appeared on Autoblog on Mon, 21 Jun 2010 15:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Report: Tesla IPO to happen week of June 28

Sam Abuelsamid — Tue, 15 Jun 2010 17:01:00 EST

Filed under: Toyota, Earnings/Financials, Tesla

Tesla Model S - Click above for high-res image

It looks like Tesla Motors will finally be going public the week of June 28, if a report in the Wall Street Journal is correct. The long anticipated stock offering was originally planned for the fall of 2008, but the global financial melt-down made that impossible. Tesla is hoping to sell 11.1 million shares at a price of $14 to $16 a share for a total take of up to $178 million.

The share offering must happen sometime this year under the terms of the recent agreement between Tesla and Toyota if the Japanese automaker is to proceed with its plan to invest $50 million in the California-based electric car maker. At $15 per share, Toyota would get about 3.3 percent of the company or about one-third of what Daimler got last year for a similar investment.

Aside from a single month in July 2009, Tesla has never turned a profit in its seven-year existence and is unlikely to do so until after the Model S goes on sale, now expected to happen in 2012. As of March 31, 2010, Tesla sold 1,063 Roadsters and there is no longer a waiting list for the electric sports car. Tesla officials have declined comment on the IPO report.

Gallery: Tesla Model S in motion

[Source: Wall Street Journal]

Report: Tesla IPO to happen week of June 28 originally appeared on Autoblog on Tue, 15 Jun 2010 17:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Rumormill: Toyota, Tesla to jointly develop electric prototype by year's end

Autoblog Staff — Mon, 14 Jun 2010 10:01:00 EST

Filed under: Toyota, Rumormill, Tesla, Electric

Just a few days back, we glanced over Tesla's amended IPO statement and discovered some well-buried words that suggested Tesla and Toyota may never work together on the development of an electric vehicles. The words from Tesla actually read, "We have not entered into any agreements with Toyota for any such arrangements, including any purchase orders, and we may never do so."

Tesla snuck that word "may" in there, leaving the possibility open that some sort of jointly-developed vehicle may come in the future. If a report surfacing from the Nikkei newspaper in Japan is accurate, Tesla and Toyota may have already struck a deal to develop an electric prototype by the end of the year.

The Nikkei doesn't provide much to go on, nor does it give many specifics. Without detailed info or confirmed sources, we'll have to call this one nothing more than a rumor, but we certainly hope that it pans out to be true. Here's what the Nikkei reported:

Upon forming capital and business ties last month, Toyota and Tesla said that they will jointly develop electric vehicles and share expertise, such as Tesla's electric-vehicle technologies and Toyota's production know-how. As the first step, the two firms aim to develop a prototype based on a current Toyota model using Tesla's lithium-ion-battery-based system. Actively utilizing Tesla's technologies will likely enable Toyota to lower the cost of its future electric vehicles, a Toyota executive said.

Like we said, we can't confirm any of this yet and it may just be a well-placed rumor, but it piques our interest and we'll certainly keep a close eye on it.

[Source: Nikkei via Green Car Congress | Image: Speculative rendering by reader Joona Kallio]

Rumormill: Toyota, Tesla to jointly develop electric prototype by year's end originally appeared on Autoblog on Mon, 14 Jun 2010 10:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Report: Honda buys $13.8 million worth of plug-in credits from Tesla

Autoblog Staff — Tue, 08 Jun 2010 17:58:00 EST

One advantage of being an automaker that produces nothing but plug-in vehicles is earning zero-emissions credits. It's long been thought that those credits would at some point become a valuable commodity. Back in 2007 when Phoenix Motorcars was still around, a big chunk of its business plan revolved around revenue from those credits. Phoenix went bust before they were ever able to deliver any vehicles, but Tesla Motors has picked up the idea.

Buried in an updated S-1 filing with the Securities and Exchange Commission this week, Tesla revealed that it has sold $13.8 million worth of zero emissions vehicle credits, representing 368 cars, to Honda over the last two years. Honda and Tesla also have an agreement to exchange credits for another 287 vehicles. Unfortunately for Tesla, the market for its credits will soon largely dry up as Roadster sales have slowed to a trickle and the Model S won't come to market for at least two more years. For Honda, there will be plenty of other sources for these credits - including Nissan, General Motors, Ford and others - beginning later this year.

[Source: Securities and Exchange Commission via Green Car Advisor]

Report: Honda buys $13.8 million worth of plug-in credits from Tesla originally appeared on Autoblog on Tue, 08 Jun 2010 17:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Full details on Tesla/NUMMI deal disclosed

Sam Abuelsamid — Tue, 01 Jun 2010 10:58:00 EST

Filed under: Plants/Manufacturing, Toyota, Tesla, Electric

Tesla Model S - Click above for high-res image gallery

Tesla Motors announced last week that it was definitely going to build ist Model S at the former NUMMI factory in Fremont, California. Or it might not. This isn't the first announcement about where this car might be produced. That was way back in February 2007 when the car was still being referred to as Whitestar and it was planned to be built in Albuquerque, New Mexico. Along the way it was also going to be built in San Jose and most recently southern California.

The big surprise press conference held last week with CEO Elon Musk, Arnold Schwarzenegger and Toyota CEO Akio Toyoda caught everyone completely by surprise and apparently almost none of the i's have been dotted, nor have many t's been crossed. At the time, Musk announced that Tesla would be buying one of three parcels that make up the NUMMI facility, that being the one that includes the actual building facility. Regulatory documents filed by Tesla this week in advance of its upcoming initial public stock offering indicate that Tesla is to pay Toyota $42 million for the building out of its IPO proceeds. That price, however, does not include production equipment, which may go a long ways toward explaining why Tesla got such a "good deal" compared to the $130 million that Fisker paid for a closed General Motors plant in Delaware.

If Tesla wants any of the equipment left behind at the NUMMI facility, it will have to buy that separately at an upcoming auction. Of course, it won't actually need most of it for some time since the company only plans to build about 20,000 cars per year in a plant with a capacity 25 times that.

The product collaboration agreement between Toyota and Tesla is also just that so far, an agreement to collaborate with no additional details specified right now. And that $50 million that Toyota is to invest in Tesla? That will only happen if the IPO actually happens in 2010 and it will be at the offering price. So Toyota's investment may garner it either more or less stock than the nine percent that Daimler got last year for the same price.

Gallery: Tesla Model S in motion

[Source: Green Car Advisor]

Full details on Tesla/NUMMI deal disclosed originally appeared on Autoblog on Tue, 01 Jun 2010 10:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Tesla's Elon Musk says he's broke

Sam Abuelsamid — Sun, 30 May 2010 09:31:00 EST

Filed under: Tesla

Diving into an extremely competitive and capital-intensive business in which customers generally don't appreciate having access to beta products is not a good way to enhance your personal fortune. In fact, if Elon Musk is being honest in the latest court filings related to his divorce proceedings, it looks like a great way to vaporize a fortune.

After selling Paypal to eBay in 2002, Musk and his partners netted $1.5 billion. An unknown portion of that went to Musk, who promptly turned around and invested several hundred million into not one, but three enterprises: Tesla, SpaceX and SolarCity. Neither Tesla nor SpaceX are generating enough revenue yet to be self-sustaining. The last we heard from someone inside Tesla, the company was selling about 20-30 Roadsters a month for likely revenue of under $4 million, plus whatever it's getting from Daimler for Smart ED battery packs.

Apparently Musk isn't personally self-sustaining either, claiming that he has $200,000 per month in expenses and $8,255 in income, presumably from his CEO salaries at Tesla and SpaceX. Musk's filings also list only $650,000 in liquid assets. Given that disparity, it seems like there might be at least a bit of leeway to cut back a bit. At any rate, Musk claims that he has had to start taking personal loans from friends to make ends meet.

Needless to say, Musk's estranged wife Justine sees the family finances a bit differently, and the reality is likely somewhere in between. If Musk's financial position is, in fact, as strained as he says, he'll want to complete the Tesla IPO as soon as possible just so that he can cash out some of his position.

[Source: CNN Money, Forbes]

Tesla's Elon Musk says he's broke originally appeared on Autoblog on Sun, 30 May 2010 09:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Reuters: UAW pressuring Tesla/Toyota to hire union workers at former NUMMI plant

Steven J. Ewing — Fri, 21 May 2010 15:58:00 EST

Filed under: Plants/Manufacturing, Toyota, UAW/Unions, Tesla

Yesterday, Toyota and Tesla announced that the two companies would be collaborating on electric vehicle development. Tesla will be taking over the NUMMI factory in Fremont, California, which was recently closed. Now, the United Auto Workers is urging Toyota to hire union workers to operate the plant, giving jobs back to the people who were rendered unemployed after the NUMMI shutdown.

UAW president Ron Gettelfinger has issued the following statement:

"Our union's hope is that this venture will give first hiring preference to former NUMMI employees who are already trained and highly skilled."

As you'll recall, NUMMI was closed at the beginning of April after the Toyota/General Motors joint venture fizzled, a development that left roughly 4,500 union workers unemployed. Thus, it only makes sense that the UAW would be fighting to reinstate these workers' jobs now that Tesla plans to build its Model S sedan at this facility.

[Source: Reuters | Image: Justin Sullivan/Getty]

Reuters: UAW pressuring Tesla/Toyota to hire union workers at former NUMMI plant originally appeared on Autoblog on Fri, 21 May 2010 15:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

BREAKING: Toyota and Tesla to partner on EV production in California

Sam Abuelsamid — Thu, 20 May 2010 20:27:00 EST

Filed under: Sedan, Plants/Manufacturing, Toyota, Tesla, Electric

Tesla Model S - Click above for high-res image

California governor Arnold Schwarzenegger, Tesla CEO Elon Musk and Toyota CEO Akio Toyoda held a joint press in Palo Alto, California to announce that the two companies would be collaborating on electric vehicle development and production, with Tesla will taking over the recently closed NUMMI factory in Fremont, CA to produce the Model S sedan.

Toyota will invest $50 million for a private placement of Tesla common stock and the state of California will provide a sales tax abatement to Tesla for capital equipment expenditures to tool up the plant. Musk estimated that the abatement will amount to about $20 million over the next several years.

According to Musk, production of the Model S will bring about 1,000 employees back to the NUMMI plant to produce about 20,000 cars a year at first, and as the facility expands - possibly to include the production of more models - it could employ up to 10,000 workers. Musk revealed that some employees have already been rehired, but was non-committal on the subject of union representation. NUMMI was the only Toyota plant in North America that was unionized.

An additional benefit to Tesla from this deal is that it will be able to take advantage of the Toyota production system and possibly some of Toyota's suppliers. That's sure to help Tesla avoid many of the logistical problems that hampered early Roadster production and costs.

Production of the Model S is still planned to start in 2012 and Musk said more advanced prototypes would be revealed later this year. No decisions have been made yet about additional vehicles to be produced at the plant which previously had a capacity of more than 300,000 vehicles a year.

The deal for the NUMMI plant leaves Downey, CA jilted at the altar with the city's mayor "feeling stabbed in the back by Tesla." The Toyota deal apparently came together very quickly and Musk acknowledged that he would still like to work with Downey, perhaps for a future Space-X facility. Hit the jump for all the details.

Gallery: Tesla Model S in motion

[Source: Toyota]

Continue reading BREAKING: Toyota and Tesla to partner on EV production in California

BREAKING: Toyota and Tesla to partner on EV production in California originally appeared on Autoblog on Thu, 20 May 2010 20:27:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Wife of Tesla CEO demands 10-percent of his company stock and a Roadster in divorce

Eric Loveday — Mon, 17 May 2010 15:32:00 EST

Filed under: Etc., Tesla

It's not all that often that a messy divorce pops up with a billionaire on one side and somebody who wants part of the money on the other, right? Actually, this occurs far too often and a divorce involving wealthy individuals can be downright messy and ultimately destructive to those involved. It appears as though the divorce between Tesla's chief executive officer Elon Musk and soon-to-be ex-wife Justine Musk is playing out as one of those mega-litigious affairs, and the impact may be extend well beyond just the two involved.

In case you haven't followed the Musk soap opera, here's what's going on. The divorce saga has been going on seemingly forever, as these things take lots of time. Justine Musk recently began blogging about the whole fiasco a couple of weeks ago on her Livejournal site. Justine is fighting the court battle to secure a few things that she feels entitled to. What does Justine want? Not much, just the house, alimony and child support, $6 million in cash, 10 percent of Elon's stock in Tesla, 5 percent of his stock in SpaceX, and throw in a Tesla Roadster as well.

Naturally, Elon is none too thrilled about the demands and has decided to fight this one in court. As the battle ensues, Elon stands a chance of losing much more than just the things listed above. If the divorce goes awry, Tesla could lose the $465 million in government funding that could delay its initial public offering. How does the divorce play into government funding? A stipulation in the paperwork states that government funds will be withdrawn if Musk doesn't hold enough stock in the company.

So is Justine being fair? Are her demands legit? As she said on her blog:

Is that what I deserve? I don't know. Who exactly deserves that kind of wealth? But based on our life and history together, is that reasonable? I think so.

One more thing to think about: by not agreeing to a settlement, Elon Musk risks losing even more as the post-marital agreement could be ruled illegal or fraudulent, and California law would then grant 50 percent of all communal property to Justine.

[Source: Livejournal, Reuters, Inside Line]

Wife of Tesla CEO demands 10-percent of his company stock and a Roadster in divorce originally appeared on Autoblog on Mon, 17 May 2010 15:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Report: Tesla's Elon Musk says new CUV model due in 2013

Sebastian Blanco — Thu, 29 Apr 2010 13:28:00 EST

Filed under: Crossover, Tesla, Electric

IED Tesla EYE concept - Click above for high-res image gallery

The Tesla EYE design concept we saw in at the Geneva Motor Show was just an experiment some students at the Istituto Europeo di Design of Turin did with the Tesla brand. But the idea that we will see more and new vehicle models from Tesla Motors is a fact, as CEO Elon Musk reaffirmed this week during his acceptance speech for the Automotive Executive of the Year Innovator Award. AutoWeek was on hand and reports that Musk said that, after the Model S arrives in 2012, Tesla will introduce a crossover utility vehicle and other models starting in 2013. There's been talk about a Tesla SUV since at least 2008.

On the smaller side of things, Tesla's alliance with Daimler is moving forward with supplying electric vehicle technology for a Mercedes A-Class and the next Smart. For those of you who think Musk has a big ego, he said something in his speech that minimizes the impact of cars like the Tesla Roadster: "The smallest effect Tesla will make will be the cars we make ourselves. The biggest effect will be the cars they [other companies] make."

Gallery: Geneva 2010: IED Tesla EYE concept

Photos by Damon Lavrinc / Copyright (C)2010 Weblogs, Inc.
[Source: AutoWeek]

Report: Tesla's Elon Musk says new CUV model due in 2013 originally appeared on Autoblog on Thu, 29 Apr 2010 13:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments