Tesla sold about $350 million in stock and $850 million in convertible debt to help pay for capital expenditures spurred by new model.
As part of an increasingly close partnership, Mercedes-Benz parent company Daimler is reportedly preparing to increase its stake in Aston Martin by another one percent, bringing the German automaker's shares in the British company up to five percent.
At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something
August has been good to Tesla Motors – heck, all of 2013 has pretty much been an upswing – and the market value of the California electric-vehicle maker has now surpassed the $20 billion mark. Bloomberg News reports the stock, which is trading in the $165 neighborhood, is up almost sixfold in the past year. Tesla went public in July 2010 at $17 a share.
Over at Motley Fool, Travis Hoium argues that there's a right way and a wrong way to jump on the electric vehicle investment bandwagon.
Fiat has gone from a local automaker to a major industry powerhouse in a relatively short span of time, increasing its own market stake while taking over Chrysler to expand its global reach. But something's gotta give, figured the industry analysts, leading to speculation that one of its most valuable properties could be sold – at least in part – to raise capital for the rest.
There's plenty of room to get lost in the Volkswagen Group. In addition to the VW brand, the group controls Skoda, Seat, Audi, Porsche, Lamborghini, Bentley and Bugatti. But we can't forget its truck divisions. In addition to being Europe's largest automaker, VW is also one of its largest producer of trucks as well, producing VW commercial vehicles while holding nearly three-quarters of the shares in Swedish truckmaker Scania and a significant stake in MAN as well.
Zipcar's initial public offering (IPO) earlier this month turned a concept – vehicles available for rent by the hour – into a $1.2 billion stock-market value, according to Barron's, America's so-called "premier" financial magazine. However, the car-sharing company, as we've pointed out before, is in the red. Despite that, Zipcar shares are currently trading for around $26, up substantially from the IPO price of $18. However, Barron's suggests that the future outlook for Zipcar is ske
Despite its struggles – which you can read about here, here and here – Zipcar, one of the world's leading car sharing companies, has officially gone public.
Yesterday, Tesla Motors received a vote of confidence from Wall Street as its shares rose sharply in response to an upgraded status from financial services firm Morgan Stanley. According to our friends at Huffpost Business, the report from Morgan Stanley indicates that the Silicon Valley-based EV manufacturer may be poised to join GM, Ford and Chrysler as "America's fourth automaker" amid rising gas prices and government support of electric vehicles. You can find the full analysis here and a rec
The rumors keep coming. Just last month, we reported that Volkswagen AG was interested in a small slice of Suzuki Motors. Now, the German industry publication Automobilwoche is reiterating the same news. Apparently, a Suzuki executive at the Frankfurt Motor Show mentioned that an agreement between the two automakers would be in place by the end of the year. "For Suzuki and VW this connection would be a win-win situation. Suzuki would have access to a variety of VW's technology, while Volkswagen
Even in a down economy, millions of dollars are flowing into start-up companies working on advanced batteries for plug-in vehicles and methanol fuel cells. Three companies operating in the less-sexy side of the new automotive industry – Seeo, CFX and Oorja Protonics – have all raised millions for their operations.
We all know by now that Fiat will take an initial 20% stake in Chrysler in exchange for supplying the bankrupt automaker small-car platforms and fuel efficient drivetrains. Further down the road, Fiat will have the opportunity to purchase a large stake in Chrysler, upping its ownership to 35% and between 2013 and 2016, the Italian automaker can take an additional 16% share of Chrysler, bringing its total to 51% and gaining majority control. However, until Chrysler repays its loans to the U.S. Tr