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May 28, 2015 8:07 AM ET

Automobiles

Company Overview of Tesla Motors, Inc.

Company Overview

Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers. The company sells its products through a network of Tesla stores and galleries, as well as through Internet. It has collaboration agreement with EnerNOC, Inc. for the deployment and management of energy storage systems in commercial and industrial buildings. Tesla Motors, Inc. was founded in 2003 and is headquartered in Palo Alto, California.

3500 Deer Creek Road

Palo Alto, CA 94304

United States

Founded in 2003

10,161 Employees

Phone:

650-681-5000

Key Executives for Tesla Motors, Inc.

Co-Founder, Chairman, Chief Executive Officer and Product Architect
Age: 42
Total Annual Compensation: $35.4K
Chief Financial Officer
Age: 51
Total Annual Compensation: $338.0K
Chief Technical Officer
Age: 38
Total Annual Compensation: $249.6K
Vice President of Production
Age: 44
Total Annual Compensation: $272.9K
Vice President of Manufacturing
Age: 53
Total Annual Compensation: $270.4K
Compensation as of Fiscal Year 2014.

Tesla Motors, Inc. Key Developments

Southern Co. Teams with Tesla on Powerwall

Southern Co. has a deal with Tesla to test commercial-scale battery storage. Tesla was rolling out a series of battery products to let consumers to make better use of their solar arrays by storing excess energy for use when the sun is not shining. Powerwall helps solar-powered residences save money by maximizing the power solar cells generate, but the large-scale energy storage systems also allow owners of commercial buildings to cut down on peak energy use.

Cargill, Inc. Collaborates with Tesla Motors, Inc. and Pacific Gas & Electric

Cargill, Inc. collaborated with Tesla Motors, Inc. and Pacific Gas & Electric, (PG&E), to install Tesla's Energy Storage product at the company's Fresno beef processing facility. Tesla's batteries help to reduce energy costs by storing electricity at off-peak use times, then using it during peak periods. In total, the Tesla batteries have a 1 megawatt capacity that will be charged daily from the existing PG&E electricity grid system during off-peak hours, when electricity rates are lowest. The electricity stored in the batteries will then be used when rates are the high each day during peak use times. By doing so, Cargill is reducing its contribution to the daily state power peak, when less environmentally friendly electricity generation might otherwise be required to meet demand. Electric utility cost savings are estimated to be more than $100,000 annually. As the first large-scale battery installation at a Cargill meat processing facility, the company hopes to learn from this project for future potential use of this technology at its plants around the world. Installation of Tesla's Energy Storage system at Cargill's Fresno beef processing facility coincides with the company's global Earth Day activities around the world. The company's efforts range from resource conservation to trash removal from waterways; educating farmers in emerging nations how to optimize resources for long-term food production and more efficient transport of food that reduces emissions and use of fossil fuels; and collaborating with non-governmental organizations (NGOs) and farmers and ranchers to improve agriculture.

Tesla Motors Announces Opening of New Store in Greater Cincinnati

Tesla Motors announced that it is opening new store in Greater Cincinnati. The new store, which is not a dealership since Tesla Motors has "stores and galleries" that act more like information centers for potential buyers, is expected to open in Blue Ash this June. There are 70 stores and galleries across the U.S. and Canada. At the end of 2013, Tesla Motors opened a 1,100-square-foot gallery in Kenwood Towne Centre. That spot has room for one Tesla car as well as some space for customers to look at different options. The new Tesla Motors store, located at 9111 Blue Ash Road, is in the former Jaguar Cincinnati/Land Rover Cincinnati dealership that moved to a new facility at 9115 Blue Ash Road.

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