Tesla Motors (TSLA) announced a voluntary safety recall of 439 Roadsters (2, 2.5) due to a potential fire hazard involving a low voltage auxiliary cable. The company decided to issue the recall after the cable in a single vehicle rubbed against the edge of a carbon fiber panel, shorting out and smoking. The fix is a simple placement of a protective sleeve over the cable.
Shares aren’t moving on the news and are actually trading … Read the rest
These rumors began to surface more than a month ago and they are swirling again. No official announcement has been made, but according to an unidentified source Tesla Motors (TSLA) and Toyota (TM) have signed an agreement to begin developing an electric version of both the RAV4 and Lexus RX SUV’s to go on sale sometime in 2012. It’s believed the two companies have been working on this for some time and that Tesla has … Read the rest
Tesla Motors (TSLA) announced yesterday it has hired the man responsible for developing Apple’s (AAPL) retail strategy which has been an important part of the success of the iPod, iPhone, iPad.. The company wants to create a unique shopping experience and believes it has found the right man for the job in George Blankenship, who most recently worked for Microsoft and brings 30 years of retail experience to Tesla. Blankenship will hit the ground running, … Read the rest
Tesla (TSLA) is expected to showcase its next generation Roadster this weekend at the Goodwood Festival of Speed in the UK. The Tesla Roadster 2.5 appears to feature just incremental improvements such as better sound proofing, a touch navigation screen and improved seat comfort. They began selling the new version this week and have begun delivering to customers.
The UK just loves the Roadster! In the UK, companies that purchase a Roadster are allowed to … Read the rest
I don’t often agree with Jim Cramer’s recommendation of when to enter or exit a position, but I think he’s spot on in regards to the Tesla IPO which begins trading next week under the ticker TSLA. This is a company that is currently all hype and hope. While the company has some big names behind it including “the taxpayer”, success is far from guaranteed and profits will be a good 3 years away only … Read the rest
According to Jay Yarow at CNNMoney.com, GE Capital is investing in Tesla Motors. The article quotes the contents of a leaked interview in which Tesla CEO Elon Musk tells Car and Driver:
We’ve raised around $40 million, and a bit of news that hasn’t come out yet [is] General Electric is investing in Tesla. [GE Capital] will be the second-largest investor in this round, after me. Our business plan that we presented to investors gets … Read the rest