Tesla Motors Appoints Steve Westly to Board of Directors

Former California Controller and Seasoned Silicon Valley Executive to help Guide Electric Car Company’s Continued Growth

SAN CARLOS, CALIF. (February 28, 2007) – Tesla Motors, the California-based manufacturer of high performance electric cars, has named Steve Westly to its board of directors.

Westly brings extensive accomplishments in public service and business leadership to the board, where he will help guide Tesla’s growth as a manufacturer of stylish, high performance, zero emissions and zero-oil electric vehicles.

As controller of the state of California, Westly was the Chief Financial Officer of the 6th largest economy in the world. He began his career in government in Washington, D.C., where he worked on Capitol Hill and for the U.S. Department of Energy under President Jimmy Carter.

In the private sector, Westly guided the online auction company eBay from start up to success, beginning as a founding member of the executive team and serving as Senior Vice President of Marketing, Business Development and International.

“We are delighted to have Steve Westly on board at Tesla Motors,” said Martin Eberhard, CEO. “Steve is a seasoned Silicon Valley executive with experience building great teams and taking companies public. He is an expert in the financial discipline and controls we need to build the world’s next great car company. Steve’s experience turning eBay into a global brand will also help Tesla in our goal of developing a successful global automobile brand.”

“Once in a generation a product comes along that can reshape the thinking of an entire industry,” said Westly. “Tesla will enable Americans to understand that a zero emission vehicle is not a dream, it’s a reality.”

Westly’s appointment to the board of directors is effective immediately. He joins Elon Musk, founder and CEO of SpaceX and chairman of the board of directors; Martin Eberhard, co-founder and CEO of Tesla Motors; Jim Marver, co-founder and managing partner, VantagePoint Venture Partners; Kimbal Musk, CEO of Medium, Inc.; Simon Rothman, former global vice president and general manager for eBay Motors; and Laurie Yoler, a principal at GrowthPoint Technology Partners.

About Tesla Motors
Tesla Motors creates vehicles that exemplify “Design, Performance, and Efficiency” while conforming to all U.S. safety, environmental and durability standards. The company has already taken over 325 reservations for its first car, the Tesla Roadster, a high performance 2 seat sports car that accelerates to 60 mph in under 4 seconds with extreme energy efficiency. Tesla expects to start shipping Tesla Roadsters to customers in the fall.

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 and largest investor in Tesla Motors is Elon Musk. Tesla Motors currently employs more than 140 people, including teams in California, Michigan, the U.K. and Taiwan. For more information, visit www.teslamotors.com .