From the Model S to the Lawsuit: Recent Tesla Motors News
Photo: Daimler
May 19th, 2009: Daimler Buys a 10% Stake in Electric Car Maker Tesla Motors
Tesla had already announced a deal with Daimler at the 2009 Detroit Auto Show, but this is bigger. The first deal involved supplying battery packs for the Smart Electric Drive, but this new deal, which involves a 10% equity buy by Daimler, makes for a much closer partnership. Tesla CEO Elon Musk said: "Where I see the significant value, the mutually beneficial partnership, is that Tesla brings expertise on the battery electric front, Daimler brings expertise associated with everything else on the automobile."
Some people have voiced fears that Daimler might try to take over Tesla or turn it into a more traditional automaker. We'll have to wait and see...
Photos: Michael Graham Richard
May 26th, 2009: Who's Laughing Now? Tesla Motors Now Worth Half of GM's Value (On Paper)
Andrew S. Ross of the SFGate did some back of the enveloped showing that (on that date) the monetary value of Tesla Motors was about half of what General Motors was worth on that day (and we all know that GM's valuation didn't improve since then).
In a way, this doesn't mean too much... Tesla still isn't shipping that many electric cars, and a lot could still happen between now and the Model S electric sedan production. But if you look at it from a different angle, it certainly is a good sign that an electric car maker - a startup! - could be valued at this much money. This couldn't have happened a few short years ago, and it's probably a sign of where things are headed.
Photo: Tesla Motors
May 28th, 2009: 345 Tesla Electric Roadsters Recalled by NHTSA
Tesla had to issue a recall for 345 electric Roadster because some rear bolts were improperly assembled (not torqued enough). That part of the chassis was assembled by Lotus, so it's not directly Tesla's fault, but carmakers still dislike these types of recalls.
One thing we can't fault Tesla for is service: they're making house calls and fix the cars at their customers' homes.
Photo: ABG
June 5th, 2009: Tesla to Open Seven Stores in Major Cities
Those who want to buy a Tesla electric car, or just see one in person and maybe have a test-drive, will be happy to learn that Tesla Motors has announced 7 new stores spread over North-America and Europe. The first stores to open in June are located in New York, Seattle and Chicago. This will be followed by a store in Miami. Tesla also says that it is scouting for locations in Washington D.C. and Toronto, Canada. As for Europe: "Tesla's first European store will open in London later this month, followed by Munich and Monaco." More details here.
Photos: Tesla Motors, Space X
June 11th, 2009: Tesla Founder Martin Eberhard Sues Tesla CEO Elon Musk
Tesla Motors co-founder Martin Eberhard filed a lawsuit against Tesla's current CEO, Elon Musk, accuses him of "taking control of the company, orchestrating his ouster in 2007 and attempting to 'rewrite history' to take credit for developing the pioneering electric Roadster the two men worked together to create." Libel, slander, breach of contract, bad management... Eberhard even says that Tesla wrecked his car (and denied him the #1 production Roadster despite a signed deal)! It's like a greek tragedy. More details here.
Check out our Model S electric car slideshow!
See also:- Gas Prices Have Risen 41 Days in a Row: Is It Good for the Environment?
- Retooling the Auto Industry for a Smaller (Yet Profitable) Future
- Toyota to Lease 500 Lithium-Ion Plug-in Prius Hybrids, But Don't Hold Your Breath...
- What Does GM's Bankruptcy Mean for the Chevy Volt?
