Key Developments: Tesla Motors Inc (TSLA.OQ)

TSLA.OQ on NASDAQ Stock Exchange Global Select Market

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1 May 2015
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Latest Key Developments (Source: Significant Developments)

Tesla Motors Inc shedding jobs in China as sales target missed - Reuters
Monday, 9 Mar 2015 02:01am EDT 

Tesla Motors Inc:Says it is cutting jobs in China under a restructuring plan launched earlier this year, after missing a sales target - Reuters.Tesla declined to specify how many jobs would be cut, and did not comment on a report in the Economic Observer newspaper last week that it was eliminating 30 pct of its staff or about 180 of its 600 employees in China.Some positions are being eliminated while others are added, but overall headcount has gone down in a restructuring drive that was announced earlier this year.  Full Article

Tesla Motors Inc announces officially launches in Australia
Tuesday, 9 Dec 2014 04:08am EST 

Tesla Motors Inc:Delivered nine new cars to customers in Sydney tonight at an event to mark arrival of the Model S in Australia.Deliveries for other Australian Model S customers will commence on Dec. 10.By the end of 2015, customers will be able to visit Tesla stores and service centres in both Sydney and Melbourne.Also continue to hold Model S test-drive events around country.  Full Article

Panasonic Corp and Tesla signs agreement for Gigafactory
Thursday, 31 Jul 2014 03:30am EDT 

Panasonic Corp:Signs an agreement that lays out their cooperation on the construction of a large-scale battery manufacturing plant in the United States, known as the Gigafactory.Tesla to prepare, provide and manage the land, buildings and utilities and Panasonic to manufacture and supply cylindrical lithium-ion cells and invest in the associated equipment, machinery, and other manufacturing tools based on their mutual approval.  Full Article

Tesla Motors Inc announces $1.6 bln convertible notes offering
Wednesday, 26 Feb 2014 04:07pm EST 

Tesla Motors Inc:Says offering of $1.6 bln aggregate principal amount of convertible senior notes in an underwritten registered public offering.Says it will offer $800 mln aggregate principal amount of convertible senior notes due 2019 and $800 mln aggregate principal amount of convertible senior notes due 2021.Says it intends to use the net proceeds to accelerate the growth of its business in the U.S. and internationally, for the development and production of its "Gen III" mass market vehicle, the development of the Tesla Gigafactory and other general corporate purposes.Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities are acting as joint book-running managers for the offering.  Full Article

Tesla Motors Inc has filed a class action against Tesla Motors Inc and certain officers
Friday, 20 Dec 2013 08:00am EST 

Tesla Motors Inc:Says Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against Tesla Motor, Inc and certain of its officers.Says the class action, filed in United States District Court, Northern District of California, and docketed under 3:13-cv-05216, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Tesla securities between May 10 and Nov. 6 both dates inclusive.Says this class action seeks to recover damages against Defendants for alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.  Full Article

Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Tesla Motors, Inc.
Friday, 22 Nov 2013 06:02pm EST 

Robbins Geller Rudman & Dowd LLP announced that a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Tesla Motors, Inc. (Tesla) publicly traded securities during the period between May 10, 2013 and November 6, 2013. The complaint charges Tesla and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Tesla designs, develops, manufactures, and sells electric vehicles and electric vehicle powertrain components. Tesla currently offers two electric vehicles, the Model S, which has been in production since 2012, and the Model X, which will be delivered to customers beginning in 2014. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company`s operations and its business and financial results and outlook. Defendants misled investors by failing to disclose that there was a major design defect in Tesla`s lithium-ion battery pack which could ignite and cause a fire.  Full Article

Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit on Behalf of Investors of Tesla Motors, Inc
Friday, 22 Nov 2013 03:24pm EST 

Glancy Binkow & Goldberg LLP, representing investors of Tesla Motors, Inc. ("Tesla" or the "Company") announced that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of a class (the "Class") comprising all purchasers of Tesla securities between May 10, 2013 and November 6, 2013, inclusive (the "Class Period"). The Complaint alleges that during the Class Period the defendants misrepresented or failed to disclose that; Statements about the Model S's safety rating and lack of prior fire incidents were materially misleading, due to undisclosed puncture and fire risks in its undercarriage and lithium ion battery pack, the Model S suffered from material defects which caused the battery pack to erupt in flames under certain driving conditions, Tesla`s future sales, next generation Model X introduction, and stock price were vulnerable to the inherent risk posed by the Model S`s design flaws and the Company was unable to maintain sufficient automobile deliveries to satisfy analyst concerns and compensate for other declining revenue streams.  Full Article

Tesla Motors Inc To Replace Oracle Corp In NASDAQ-100 Index Beginning July 15, 2013
Monday, 8 Jul 2013 08:04pm EDT 

Tesla Motors Inc announced that it will become a component of the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index prior to market open on July 15, 2013. Tesla Motors, Inc. will replace Oracle Corp.  Full Article

Tesla Motors Inc Recalls Some Model S Cars Due To Seat-Mount Defect-Reuters
Wednesday, 19 Jun 2013 11:31am EDT 

Reuters reported that Tesla Motors Inc will recall 1,228 of its 2013 Model S cars manufactured between May 10 and June 8 due to a defect in the mounting bracket of the rear seat. Tesla will inspect and reinforce the bracket in all the cars built during this time period.  Full Article

Tesla Motors Inc Raises More Than $1 Billion From Debt, Equity-Reuters
Friday, 17 May 2013 01:30am EDT 

Reuters reported that Tesla Motors Inc has upsized its debt and equity offerings, as the electric car maker capitalizes on surging investor demand to raise more than $1 billion in cash. The Company increased the size of the convertible bond offering to $600 million, after increasing it earlier that day to $525 million from an initial $450 million. Meanwhile on May 17th Tesla finalized a per share price of $92.24 for the sale of 3.39 million common stock shares. It had originally planned to offer 2.7 million shares. With overallotment options included on both offerings, total fundraising is $1.02 billion.  Full Article

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Tesla moves into batteries that store energy for homes, businesses

LOS ANGELES - Tesla Motors Inc on Thursday unveiled Tesla Energy - storage systems or batteries for homes, companies and utilities that will expand its business beyond electric vehicles and tap into a fast-growing area of the energy industry. | Video

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