Company Overview of Tesla Motors, Inc.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles and stationary energy storage products in the United States, China, Norway, and internationally. It primarily offers sedans and sport utility vehicles. The company also offers electric vehicle powertrain components and systems to other manufacturers. Tesla Motors, Inc. sells its products through a network of Tesla stores and galleries, as well as through Internet. The company was founded in 2003 and is headquartered in Palo Alto, California.
3500 Deer Creek Road
Palo Alto, CA 94304
Founded in 2003
Key Executives for Tesla Motors, Inc.
Co-Founder, Chairman, Chief Executive Officer and Product Architect
Total Annual Compensation: $37.6K
Chief Financial Officer
Total Annual Compensation: $46.2K
Chief Technology Officer
Total Annual Compensation: $250.6K
Vice President of Engineering
Total Annual Compensation: $306.9K
Vice President of Programs
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2015.
Tesla Motors, Inc. Key Developments
Eric Branderiz to Join Tesla on October 24, 2016 as Vice President, Corporate Controller and Chief Accounting Officer
Sep 23 16
Tesla announced that Eric Branderiz will join the company on October 24, 2016 as Vice President, Corporate Controller and Chief Accounting Officer. Eric brings accounting and solar expertise to Tesla after 6 years at SunPower Corporation and is a Certified Public Accountant with a Business Commerce Degree from the University of Alberta, Canada. Eric was most recently SunPower’s Senior Vice President, Corporate Controller and Chief Accounting Officer.
Tesla Motors Updates Software to Improve Radar
Sep 22 16
Tesla Motors customers will get enhanced radar and other features in an over-the-air software update that starts September 21, 2016 night. The update makes the Model S sedan and Model X SUV rely more reliant on radar than cameras when driving in Tesla's semi-autonomous Autopilot mode. Teslas made after October 2014 have radar. The update also will allow customers to set a maximum temperature control system to help keep kids and pets safe if they're left in the car. The system automatically turns on the air conditioning.
Tesla Motors Announces Four Lawsuits have been Lodged Seeking to Block its Merger with Solar City
Sep 19 16
Tesla Motors has announced that four lawsuits have been lodged seeking to block its merger with troubled solar panel installer, Solar City. In its formal proposal to shareholders on the controversial merger, Tesla said that in the first half of September the four suits were filed in Delaware court, two by individual shareholders and the other two by pension funds representing public employees in Riviera Beach, California and in Arkansas. The litigation could result in an injunction preventing the completion of the merger or a judgment resulting in the payment of damages. In June, Tesla Motors and Solar City Corp. proposed a merger that Tesla says will expand the attractiveness of its car sales by, together with its upcoming large battery factory, creating a whole solution for car owners wanting a home solar system that supports both their car and household energy needs. Tesla and SolarCity both believe that this is an opportune time to combine in order to operate more efficiently and fully integrate its products, while providing customers with an aesthetically beautiful and simple one-stop solar and energy storage experience. But critics say the merger is in effect a bailout of a debt-laden solar panel installer whose chairman, Elon Musk, is also the founder and main shareholder of Tesla. They argue that Tesla itself has steadily lost money and that the burden of taking on Solar City's debts will not be offset by any possible marketing synergies. Boards of both companies have agreed to the merger and are planning a general shareholders meeting to vote on it. Musk, who holds 21.1% of Tesla and 22.5% of SolarCity, will not be able to vote as a shareholder on the deal. However, one of the lawsuits filed has asked the court for a preliminary injunction to block a vote before the suits can be heard. In response, the Delaware court scheduled an initial hearing for October 18 on the issue.
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