Tesla Motors Corporate Backgrounder
Performance Electric Vehicle Manufacturer Targets High-Performance, No Guilt
SAN CARLOS, Calif. — On July 1, 2003, far from Detroit, a new American car company was founded with the goal of building high-performance, zero-emissions electric cars that can travel a practical distance before recharging. In other words, their aim was to build a car the likes of which the world had never seen.
Tesla Motors is turning that dream into reality as it prepares to launch its first vehicle, the Tesla Roadster. A two-seat sports car powered by a motor with only one moving part, the Tesla Roadster is capable of 135 mpg equivalent, and going from 0-60 mph in about four seconds. Tesla Motors is turning that dream into reality as it prepares to launch its first vehicle, the Tesla Roadster. A two-seat sports car powered by a motor with only one moving part, the Tesla Roadster is capable of 135 mpg equivalent, and going from 0-60 mph in about four seconds.
With its electric motor producing zero emissions, the Tesla Roadster is breaking the link between traditional automotive performance and oil consumption.
Tesla Motors co-founders Martin Eberhard and Marc Tarpenning have brought together a team of automotive industry veterans as well as Silicon Valley electronics and software engineers to bring the Tesla Roadster to life. With its electric motor powered by a proprietary Energy Storage System consisting of 6,831 lithium-ion cells, the Roadster has the capability of driving more than 250 miles on a single charge.
Eberhard and Tarpenning, who were partners in NuvoMedia, which they sold to Gemstar-TV Guide International in 2000, provided the early funding for the company. They were joined in 2003 by their first major investor, PayPal co-founder and SpaceX founder and CEO Elon Musk, who is the major investor in the company and serves as Chairman of Tesla Motors.
Musk worked with Eberhard and Tarpenning to attract more investors and approach venture capital firms, and in June 2006, Tesla Motors announced that the company had secured $40 million in Series C financing led by Musk and VantagePoint Venture Partners, one of the largest CleanTech investors in the Silicon Valley.
Other institutional investors included Draper Fisher Jurvetson and JP Morgan Bay Area Equity Fund. Several individuals with strong interest in CleanTech investment also participated, including Sergey Brin and Larry Page (Google co-founders), Nick Pritzker (through his investment partnership, Tao LLC), and Jeff Skoll (through his investment company, Capricorn Management LLC).
This latest round of investment, which will support the launch of the Tesla Roadster as well as final safety compliance testing and production, brings the total amount of investment in Tesla Motors to nearly $60 million.
The styling of the Tesla Roadster, which included a collaborative effort by the company's employees, was led by Barney Hatt, Principal Designer at the Lotus Design Studio in England. The result is a sleek, stylish sports car that will appeal to enthusiasts and environmentalists the world over.
Research and Development for Tesla Motors is located at the corporate headquarters in San Carlos, California and in the UK. Motors are manufactured at Tesla's facility in Taiwan, and final assembly of the Tesla Roadster is in the UK.
The Tesla Roadster debuted to a select audience of media and potential buyers, on July 19, 2006 in Santa Monica, Calif. The public will get its first look at the car at the Pebble Beach Concours d'Elegance August 17-20.
Sales of the Tesla Roadster are expected to begin in early 2007. Planned production numbers will be disclosed at a later date.
All performance numbers are preliminary. Tesla Motors is currently involved in important and time-consuming safety and durability testing for the Tesla Roadster. While we are confident of our numbers, this testing may require design changes that affect the final specifications. Mpg is for the EPA highway driving cycle. Conversion from electric consumption to gallons of gasoline equivalent is calculated using the EPA conversion factor documented in the Federal Register: June 12, 2000 (Volume 65, Number 113), Rules and Regulations, Pages 36985-36992.
Tesla Motors Board of Directors
About Tesla Motors
Tesla Motors was founded in July 2003 by Martin Eberhard and Marc Tarpenning to create efficient electric cars for people who love to drive. The Chairman of Tesla Motors, a privately held company, is Elon Musk, who has led or co-led all three rounds of investment resulting in $60 million in funding. Mr. Musk has been instrumental in both corporate and product development at Tesla Motors.
The company currently employs over 80 people, including teams in California, the U.K. and Taiwan. The background and experience of Tesla Motors's employees mirrors the vehicle itself, drawing from diverse expertise in the electronics, automotive and software industries.
Tesla Motors creates vehicles that conform to all U.S. safety, environmental and durability standards. Tesla Motors's cars include modern safety equipment such as airbags, front crumple zones, side impact protection, and 2½ mph bumpers. Tesla Motors will only sell cars in the U.S. when they pass the Federal Motor Vehicle Safety Standard (FMVSS).
For more information, visit www.teslamotors.com.