Tesla Motors Inc., the maker of high-end electric cars, delivered 6,900 Model S sedans in the fourth quarter, lifting full year sales of the premium vehicle beyond the company’s target and sending shares up 10%.
The quarterly figure is “about 20% above our previous guidance,” Jerome Guillen, Tesla’s head of global sales, said Tuesday at the North American International Auto Show in Detroit. There are now more than 25,000 units of Model S on the road today, he said, including those sold in Europe.
Tesla Motors Inc. CEO Elon Musk added US$1.1 billion to his fortune Tuesday as the electric-car maker and solar power company SolarCity Corp. closed at records on investor optimism over his plans to build one of the biggest battery factories on Earth.
Musk, who leads Tesla and is both its and SolarCity’s biggest shareholder, has a net worth of US$11.7 billion, according to the Bloomberg Billionaires Index, up 10% since yesterday and US$3.8 billion year-to-date.
Tesla closed at an all-time high of $193.37 on Sept. 30. At the time, the stock was up over 470% year-to-date. However, the stock has been getting walloped, falling by 17% this week. It's now down 27% since the Sept. 30 all-time high. And today, it's trading at around $136. So, what's gone wrong?
DETROIT/AUSTIN, Texas (Reuters) - Elon Musk, the chief executive of electric carmaker Tesla Motors Inc, criticized the traditional way of selling cars in the United States and indicated the model would hamper the 10-year-old U.S. automaker's growth prospects.
Elon Musk inspired Robert Downey Jr.’s portrayal of comic-book billionaire industrialist Tony Stark in the “Iron Man” films. The role model for Musk, a billionaire industrialist for real, appears to be Henry Ford.
The Ford Motor Co. founder’s mastery of mass-production made the Model T the first affordable car, revolutionizing transportation. Musk, who named Tesla Motors Inc.’s sedan the Model S as a tip-of-the-cap to Henry’s car, sees himself similarly as an engineer, a tinkerer, a nitty-gritty entrepreneur.
(DETROIT) — The leader of upstart automaker Tesla Motors is confident that its Model S car is safe and will be cleared by a federal investigation into two battery fires. CEO Elon Musk said the fires, which occurred when metal road debris pierced the underbody of the cars at highway speeds, are extreme cases. He doesn’t expect a recall and said his engineers are not working on any fixes for the battery-powered cars. “In both cases it was a large piece of metal essentially braced against the tarmac,” Musk said in an interview Friday with The Associated Press.
The National Highway Traffic Safety Administration announced this week it is opening an investigation into the three Tesla Model S fires over the past two months, stoking the flames of a controversy of whether or not electric cars are safe.