Tesla Releases IPO Details, Expects To Raise $185 Million

Tesla Releases IPO Details, Expects To Raise $185 Million
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The end goal for most venture-capital financed start-ups is to issue an IPO and help get some money into the hands of those investors brave enough to give the company money at the early stages. Tesla Motors, perhaps the first Silicon Valley car company(and headed by Elon Musk, a former dot-com executive), is about to… Continue Reading...

Tesla Confirms No Plans to Build Electric Cars With Toyota, “and we may never do so”

Tesla Confirms No Plans to Build Electric Cars With Toyota, “and we may never do so”
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It appears as though last month’s much-touted tie-up between Toyota and American electric car maker Tesla Motors was more of a publicity stunt than the start of a brave new electric world. In a recently filed IPO statement to the SEC, Tesla says that while there are a lot of good intentions to work together… Continue Reading...

Report: Tesla CEO Elon Musk Is Broke

Report: Tesla CEO Elon Musk Is Broke
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At 38 years old, Elon Musk has already lived a life filled with more adventures and pitfalls than most of us can fathom. The founder of PayPal, Tesla Motors and SpaceX was also a one time owner of a McLaren F1, the holy grail of car collecting, and served as the inspiration for Tony Stark,… Continue Reading...

“Hiring Former NUMMI Workers Is A Priority For Us”- Tesla CEO Elon Musk

“Hiring Former NUMMI Workers Is A Priority For Us”- Tesla CEO Elon Musk
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After acquiring the former NUMMI plant jointly owned by General Motors and Toyota, Tesla Motors was immediately targeted by the UAW for a guilt-trip campaign by the United Auto Workers to re-hire the 4,700 workers set to lose their jobs as the plant closed. In an interview on a California radio show, Tesla CEO Elon Musk was… Continue Reading...

UAW Putting Pressure On Toyota/Tesla To Hire Union Workers For New Joint Venture

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UAW Putting Pressure On Toyota/Tesla To Hire Union Workers For New Joint Venture
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The United Auto Workers is busy inserting itself into the Toyota/Tesla joint venture barely 24 hours after it was even announced. The two companies announced that they would be collaborating on electric vehicles, and Tesla would be taking over the revolutionary (at the time) NUMMI plant in Fremont, California, to build their new Model S… Continue Reading...

Toyota and Tesla to Partner on Electric Cars; Tesla Buys NUMMI to Build Model S in California

Toyota and Tesla to Partner on Electric Cars; Tesla Buys NUMMI to Build Model S in California
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Japanese giant Toyota Motor Corp and American electric car start-up Tesla Motors have announced a partnership that will see both automakers work towards future electric cars. In the short term, however, the deal has a more immediate result, namely that Toyota is spending $50 million to buy a significant stake in Tesla, which will then… Continue Reading...

Report: Toyota Closes California NUMMI Plant in Bid to Cut Production by One Million Units

Report: Toyota Closes California NUMMI Plant in Bid to Cut Production by One Million Units
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Toyota has confirmed that, for the first time, it will close one of its U.S. plants. The facility is the New United Motor Manufacturing Inc. (NUMMI) plant in Freemont, California. “After the decision by General Motors to withdraw from the NUMMI joint venture, Toyota conducted a thorough review of its alternatives in light of current… Continue Reading...

General Motors May Sell Rebadged Prius

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General Motors May Sell Rebadged Prius
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Toyota may share a version of its Prius hybrid with General Motors according to a recent report by Bloomberg. Sources say Toyota President Akio Toyoda and GM CEO Fritz Henderson will meet in August in Michigan to discuss the possibility of selling a version GM-badged Prius – or possibly using Toyota hybrid technology to build… Continue Reading...

Pontiac Stops Vibe Production Early

Pontiac Stops Vibe Production Early
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Contrary to recent reports that the Vibe would be the sole Pontiac model to continue on into 2010, General Motors has now decided to end production of the utilitarian vehicle early. Production of the Vibe at the GM/Toyota joint-venture New United Motor Manufacturing Incorporated (NUMMI) facility will end this August. Several weeks ago GM’s interim… Continue Reading...

General Motors Planning To Leave NUMMI

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General Motors Planning To Leave NUMMI
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With the Pontiac brand gone, GM is looking to get out of its arrangement with Toyota that spawned the Vibe/Matrix models In stark contrast to official statements by General Motors reps (and to a story we ran yesterday) the struggling U.S. automaker does indeed want out of the joint project with Toyota that saw the… Continue Reading...

General Motors Looking To Toyota For A Shared Platform To Replace Vibe

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General Motors Looking To Toyota For A Shared Platform To Replace Vibe
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With news today that the Pontiac brand will in fact be eliminated, General Motors is eager to get working with Toyota to build a new shared platform to replace the Vibe. The Vibe is to GM what the Matrix is to Toyota, and both models come from an evenly shared joint venture known as New United… Continue Reading...