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.
Molycorp Inc., the owner of the largest rare-earth deposit outside of China, jumped the most since its July 2010 initial public offering after posting a smaller-than-expected first-quarter loss as volumes rose.
Coda Holdings Inc., parent of the electric-car maker backed by billionaire Philip Falcone, filed for bankruptcy and will seek to sell its assets to a group led by a Fortress Investment Group LLC unit for $25 million.