Tesla Motors Inc., the electric-car maker run by Elon Musk, surged as much as 12 percent on investor confidence in Musk’s plan to boost his stake in the company that’s selling as much as $830 million in shares and debt.
Elon Musk was fresh off the sale of PayPal and starting another business, commercial rocket service Space Exploration Technologies Corp., when he met kindred spirit JB Straubel. Their shared belief that consumer electronics advances could be applied to more earthly modes of transport is a cornerstone of Tesla Motors Inc.
Tesla Motors Inc.’s first quarterly profit, led by a surge in deliveries of the electric-car maker’s Model S, got an added bump from sales of California and U.S. environmental credits that generated 15 percent of revenue.
Tesla Motors Inc., the maker of electric cars run by billionaire Elon Musk, surged 24 percent after posting a first profit, beating estimates and earning a top evaluation for its Model S sedan from Consumer Reports.
Tesla Motors Inc.’s electric Model S, Motor Trend’s 2013 “Car of the Year,” received the highest rating from Consumer Reports in an evaluation of the luxury sedan that led first-quarter North American plug-in car sales.
Elon Musk, the California billionaire who leads Tesla Motors Inc., said the electric-car maker is considering adding driverless technology to its vehicles and discussing the prospects for such systems with Google Inc.