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Posts Tagged ‘tesla’

Tesla Motors raises $226m from going public

Posted by Admin on June 29, 2010

Tesla car US electric car maker Tesla Motors has raised $226m (£150m) from investors.

That was $40m more than had been predicted.

The company, which recently saw Toyota invest $50m in return for a 2.5% stake, is the first US car company to go public since Ford in 1956.

Toyota hopes that as well as access to Tesla’s electric battery expertise, its investment in Tesla will give it the chance to repair its battered reputation after a series of global vehicle recalls.

“The interest in buying Tesla stock increased tremendously after the Toyota announcement,” said Greg Dietrick, a broker at Sharespost.

Tesla is also a partner of Daimler, which owns Mercedes and Smart. Last year Tesla agreed to supply lithium-ion power packs and recharging systems for 1,000 Smart electric cars.

“You’ve got the company that invented the internal combustion car coming half way around the world to Tesla,” Musk said ahead of the initial public offering of its shares.

“It’s like Gutenberg saying, ‘Hey can you make a press for me’.”

‘Technology firm’

Analysis: Tesla has built a strong reputation with its high-performance Roadster.

But this is not the car investors are buying.

Instead, they are buying into the hope that Tesla will put a $465m low-interest loan from the US government to good use and build an assembly plant and electric engine factory in California.

They also hope Tesla will produce its planned $50,000 car in time for a launch in 2012, and that consumers will chose this car over rival models from established carmakers.

In short, investors are betting that Tesla’s technology will be successful as the motor industry moves ever closer towards electric motoring.

If they are right, the returns could be enormous, but there is no doubt that the risks are great.

Tesla gets ready as electric cars go mainstream

Tesla, which was only formed in 2003, hopes the deal will help launch it onto the world stage.

Tesla’s chief executive officer Elon Musk insists investors will benefit from the company’s technology knowledge.

“We are a Silicon Valley company. Closer to an Apple or Google than to a GM or Ford in the way we operate the company,” he said.

But analysts point out that the company’s earnings potential is limited until it has developed its next car, the Model S.

Tesla’s losses widened to $29.5m in the three months to March from $16m a year ago, and the company expects to continue incurring losses until at least 2012.

And however good the company’s technology, Tesla will be up against established carmakers that are also getting ready for the era of electric motoring, industry observers point out.

“They are not Google, they are in manufacturing,” said Jeremy Anwyl, chief executive of industry observer Edmunds.

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Posted by Admin on June 16, 2010

by Nikola Tesla

Suppose some one should discover a new mechanical principle–something as fundamental as James Watt’s discovery of the expansive power of steam—by the use of which it became possible to build a motor that would give ten horse power for every pound of the engine’s weight, a motor so simple that the veriest novice in mechanics could construct it and so elemental that it could not possibly get out of repair.  Then suppose that this motor could be run forward or backward at will, that it could be used as either an engine or a pump, that it cost almost nothing to build as compared with any other known form of engine, that it utilized a larger percentage of the available power than any existing machine, and, finally, that it would operate with gas, steam, compressed air or water, any one of them, as its driving power.

It does not take a mechanical expert to imagine the limitless possibilities of such an engine.  It takes very little effort to conjure up a picture of a new world of industry and transportation made possible by the invention of such a device.  “Revolutionary” seems a mild term to apply to it.  That, however, is the word the inventor uses in describing it—Nikola Tesla, the scientist whose electrical discoveries underlie all modern electrical power development, whose experiments and deductions made the wireless telegraph possible, and who now, in the mechanical field, has achieved a triumph even more far reaching than anything he accomplished in electricity.

There is something of the romantic in this discovery of the famous explorer of the hidden realms of knowledge.  The pursuit of an ideal is always romantic, and it was in the pursuit of an ideal which he has been seeking twenty years that Dr. Tesla made his great discovery.  That ideal is the power to fly—to fly with certainty and absolute safety—not merely to go up in an aeroplane and take chances on weather conditions, “holes in the air,” tornadoes, lightning and the thousand other perils the aviator of today faces, but to fly with the speed and certainty of a cannon ball, with power to overcome any of nature’s aerial forces, to start when one pleases, go whither one pleases and alight where one pleases.  That has been the aim of Dr. Tesla’s life for nearly a quarter of a century.  He believes that with the discovery of the principle of his new motor he has solved this problem and that incidentally he has laid the foundations for the most startling new achievements in other mechanical lines.

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