Posts Tagged ‘Tesla’

California Freeway Gets Electric Car Chargers From SolarCity

Wednesday, September 23rd, 2009

Solar power and electric can go together like a horse and carriage. That’s the idea behind SolarCity’s effort to market its solar energy system sales along with electric car charging installations.

The Foster City, Calif.-based company announced Tuesday a
partnership with Rabobank to make electric car charging available for
free to owners of Tesla Motors’ vehicles traveling on Highway 101
between San Francisco and Los Angeles. Other cars that can make use of
same charging technology are welcome. 

SolarCity has set up a fast-charging device at four of the bank’s
branches near the freeway as part of a larger charging technology
development project by Tesla, which is headquartered just south of San
Francisco.

The partnership with Rabobank is more than just a marketing strategy
to win over more solar customers. Rive said his company is entering the
business of installing charging stations for plug-in hybrid and
electric cars because it, too, promotes the use of cleaner energy.

"We want to design systems for powering your home and car," said
Lyndon Rive, CEO of SolarCity. "The key thing is we want to eliminate
all the reasons we can’t live a carbon-free lifestyle."

Rive is throwing out some incentives to entice home and business
owners to install solar and charging stations: "If you get a PV system,
then the EV system is free." (This deal won’t likely last once more
electric cars become available.)

SolarCity has been selling and installing solar energy systems since
its founding in 2006. The company is one of few that offer financing
options to both residents and businesses that don’t want to pay the
expensive upfront costs of owning a solar energy system.

Last week, it said it had finalized its purchase of Los Angeles-based SolSource Energy, whose business includes installing electric car charging stations. SolSource has been the North American distributor of Toyota Tsusho electric car chargers. Toyota Tsusho is responsible for the export, sales and marketing of Toyota vehicles and auto parts.

The four charging stations at Rabobank branches are part of a larger project by Tesla Motors to develop and deploy a car charging technology.

The San Carlos, Calif.-based electric automaker received a grant of
1,000 from the California Air Resources Board for the project in
2007, said Tesla spokeswoman Rachel Konrad.

Part of that money went into co-developing the charging device with ClipperCreek
of Auburn, Calif., Konrad said. The result is a fast-charging device
Tesla calls the "High Power Connector" that provides up to 70 amps, 240
volts of electricity, making it possible to fully charge a Tesla
Roadster after 3.5 hours, Konrad added.

Tesla car owners can have an electrician install the High Power Connector, which costs an extra ,000
and comes in a wall-mounted box with a power cord, in their garages.
Tesla also has designed its cars to be able to charge with the standard
110-volt outlet, which could take 37 hours for a full charge.

About ,000 of the 1,000 grant was set aside for setting up the
charging spots, Konrad said. The money went into buying equipment for
the installations, SolarCity said. Incidentally, Rive is a cousin of
Elon Musk, Tesla’s CEO.

The solar installer has built the charging stations at Rabobank
locations in Salinas, Atascadero and Santa Maria. The Goleta location
is scheduled to be up and running by Oct. 15, said Jonathan Bass, a
SolarCity spokesman.

SolarCity also has erected a 30-kilowatt solar energy system at the
bank’s Santa Maria branch. Rabobank has signed a power purchase
agreement with SolarCity to pay for the electricity generated from the
30-kilowatt system (SolarCity will own it). The bank is considering
adding solar in its other locations.

The bank offers the sites and will be paying for the electricity
while SolarCity owns and maintains the charging stations. The stations
are located in or near shopping centers, so motorists have something to
do while waiting for their cars to juice up.

The charging is free for now. Given the limited number of Tesla car
owners, the bank isn’t in danger of seeing a huge spike in electricity
bills. The same deal isn’t likely to last after major carmakers begin
to launch plug-in hybrid or all-electric cars starting in 2010.

SolarCity does plan to add charging equipment from those companies,
or install universal chargers when standards are in place, Bass said.

The company has installed a fifth station on land owned by the city of San Luis Obispo, which will operate it, Bass said.  

Image via SolarCity.

Source

Tesla Founders Awkwardly Hug It Out

Monday, September 21st, 2009

teslaimage1The now infamous Tesla founder’s feud was one of those classic fights that exemplified the difficulties of the entrepreneurial experience, as well as the bumpy road for an electric vehicle startup. And it has now supposedly ended as abruptly as it started: this morning, according to Tesla, Tesla’s CEO and Chairman Elon Musk and Tesla founder Martin Eberhard, have “officially resolved their dispute.”

While Tesla wouldn’t disclose any details, last month the San Jose Business Journal reported that Eberhard dropped the suit in which he made allegations of libel, slander and breach of contract against his former employer. According to the Journal report, Eberhard “voluntarily requested that the suit be dropped” on Aug. 7, just a week and a half after the court rejected Tesla’s motion to have it thrown out altogether. Read the San Mateo Court rulings here.

Eberhard’s lawyer Yosef Peretz declined to comment on the specifics of the case last month, and Tesla is refusing to providing any details either this morning. That makes it sound like some sort of settlement to us.

The only thing that Tesla would offer is a variety of stilted quotes saying the issue is over and praising the other’s contribution. According to Tesla, Eberhard is quoted as saying: “As a co-founder of the company, Elon’s contributions to Tesla have been extraordinary.” And Musk’s quote is just as bro-friendly: “Industry-changing efforts are virtually impossible. Without Martin’s indispensable efforts, Tesla Motors would not be here today.” Given these two have years of animosity towards each other (read Michael Copeland’s article from 2008 on this) these statements sound about as forced as you can get.

In the end there’s little resolution on who can or can not call themselves a founder, but given the complexity of the question (as we detailed here), perhaps an unresolved ending is the most appropriate.



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Tesla Motors Raises $82.5M Series F, Charges Up for Global Buildout

Tuesday, September 15th, 2009

Electric car startup Tesla Motors, which just snagged a 5 million loan from the Department of Energy, has done it again — raised capital, that is. The San Carlos, Calif.-based company has pulled in .5 million in a sixth round of private equity financing, according to a Bloomberg report from the Frankfurt Motor Show this morning.

tesla-red

London-based Fjord Capital Management led the round, which Tesla CEO Elon Musk said “was an opportunistic investment.” This time around, the startup was “not looking for money,” but the funds will be used to support international buildout of Tesla retail stores, which the company has previously said will be expanding to several European countries.

Rather than following the more common dealership franchise model, Tesla uses showrooms modeled after Apple stores to show off its vehicles, bring in deposits, make sales and eventually service the cars. The stores don’t come cheap, since Tesla targets high-income customers in upscale real estate markets like Manhattan, Los Angeles and London.

As of November 2008, Tesla had raised some 5 million, including million from Musk himself, and burned through most of it. After being unable to raise another 0 million on the terms it wanted (partly due to the credit crunch), Tesla raised million in convertible debt financing from existing investors. But 2009 has been more favorable for Tesla’s financial situation.

In addition to the DOE funds, this latest round of investment comes just four months after Germany’s Daimler AG bought a 10 percent stake in Tesla for million as part of a new strategic partnership (Daimler later sold part of that stake to Abu Dhabi-based investment group Aabar Investments), and it’s on the heels of Tesla’s first reported month in the black. Tesla recently announced it achieved “overall corporate profitability” for the first time ever in July, with million profit on million in revenue, including, according to Tesla spokesperson Rachel Konrad, “a small percentage of revenue from technology sales,” as in the Daimler deal.



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Daily Sprout

Tuesday, September 15th, 2009

Tesla Still on the Hunt for Space: Two cities in Southern California — Long Beach and Downey — have emerged as leading candidates for Tesla Motors’ Model S electric sedan factory, but the San Francisco Bay Area is still in the running. — San Jose Mercury News

Maple Power: Researchers from the University of Washington in Seattle have found there’s enough electricity flowing in big leaf maples to run an electronic circuit. — Scientific American

DOE Doles Out 4M for Efficiency Upgrades: The U.S. Department of Energy today announced more than 4 million in stimulus grants for 22 states to implement energy efficiency programs. — DOE Press Release

Problem With Ambitious EV Timelines: If ambitious introduction schedules for the upcoming generation of electric vehicles “give way to delays, automakers could end up feeding consumer cynicism.” — New York Times

Underwhelming Cash for Clunkers Results: Researchers at the University of Michigan say the billion cash-for-clunkers program improved the average fuel economy of all vehicles purchased in the U.S. by 0.6 miles per gallon in July and 0.7 mpg in August of this year. — Edmunds Green Car Advisor



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Tesla Founder Marc Tarpenning on How to Start a Car Company

Monday, August 31st, 2009

Compared with Tesla Motors co-founder Martin Eberhard, the startup’s other founder — Marc Tarpenning — has kept a relatively low profile. But Tarpenning spoke this morning at IBM’s Almaden Institute 2009 in San Jose, Calif., telling his version of the Tesla creation story that Eberhard and CEO Elon Musk have been fighting over this summer.

Back in 2003, Tarpenning and Eberhard knew they wanted to start a new company, but hadn’t settled on specifics. “We knew we wanted to solve a real problem,” Tarpenning said. “We just couldn’t do another network widget.” Eberhard suggested that they “do oil.” Climate change had yet to become a major mainstream concern in the U.S., but “there was this nagging suspicion about, what if we run out of this stuff.”

The pair looked at cellulosic ethanol and hydrogen fuel cells, but ultimately decided to work on the electric car. Tarpenning said that at the time, about half of the venture capital community was interested in taking a close look at fuel cells, and the other half had already looked at the technology and concluded that “the energy equation doesn’t make sense.”

Settling on electric vehicles, Tarpenning and Eberhard developed the idea of building a beautiful, but expensive “aspirational” vehicle to help improve the image of green cars and bring them into the mainstream. Then the entrepreneurship part began. “Imagination is great,” but “how do you then start a car company?” Tarpenning said. “In Silicon Valley, you have an idea, you immediately incorporate — why not?”

From there, Tarpenning described Tesla’s next three years as a cycle of developing, hitting a milestone, and then seeking fresh capital. When you have a major milestone, you switch gears, said Tarpenning, to seek funds for future development. After hitting its first major milestone in 2004 — the company’s first drivable version of a Tesla car — “the main thing we did is immediately raise money,” he said.

By May 2006, when Tesla had closed its third round of venture capital investment, Tarpenning said the pitch had gotten much easier — and not just because the startup had a drivable mule. The cleantech sector had started to take off and the startup refined its pitch, shifting from the idea of a car with “a bunch of computers in it and it goes real fast,” to a technology and vehicle that could become a key part of the nascent cleantech sector and market for greener cars.

Even so, Tesla ran into trouble late the following year when the transmission failed in durability testing, and in April 2008 had to get a bridge loan. This time, the milestone-fundraise pattern worked against the startup. “We had this big milestone, and we failed it.” These were “dark times” for Tesla, Tarpenning said.

Tesla has since managed to pull itself away from the brink, and Tarpenning noted, has since “received a bunch of money” from the Department of Energy loan program, as well as a million investment from Daimler AG.

But Tesla is far from mass production. And Tarpenning says he’s “a little skeptical” that Tesla will hit its 2011 production target for its own electric sedan. Likewise EVs are nowhere close to mainstream. What’s the biggest hurdle still standing between electric cars and the mass market, according to Tarpenning? “The batteries really aren’t good enough yet.”



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