Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« Firefly Energy Selects Second Manufacturing Partner | Main | Bosch Sees Nearly 18% Increase in Common-Rail Sales Worldwide in 2007 »

Print this post

Tesla Motors Secures $45 Million Series D Round

11 May 2007

Tesla Motors, a manufacturer of high-performance electric cars, completed a $45 million Series D investment round.

The round was co-led by Technology Partners, a venture capital firm with a focus on Cleantech and Life Sciences, and by Elon Musk, entrepreneur and CEO of Space Exploration Technologies (SpaceX.) An additional significant investment was made by Capricorn Investment Group, a private investment firm.

All major investors from prior rounds of financing fully participated in this round, including Vantage Point Venture Partners, Draper Fisher Jurvetson, JP Morgan Bay Area Equity Fund, Valor Equity Partners and Compass Venture Partners.

The financing will be used for the continued development of the WhiteStar program, a four-door, five passenger sports sedan planned for introduction for the 2010 model year, the establishment of company-owned sales and service infrastructure, and the mass-production of the Tesla Roadster. To date, the company has taken over 400 reservations for the Roadster.

May 11, 2007 in Brief | Permalink | Comments (3) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef00d83513abbc53ef

Listed below are links to weblogs that reference Tesla Motors Secures $45 Million Series D Round :

Comments

Good, I am glad they got more funding. Some would say the first car is a toy for the rich, but sometimes you need to get that first product that you know will sell out there. It is limited production, but a good first quick win. Then you can go on to make other models that will be purchased and used by more people. If you want to do good in the world, sometimes it has to be widely adopted to make a significant difference. With transportation and more than 100 million vehicles, this is the case.

I wish Tesla Motors continued success and hope they don't get involved with Big Auto and Big Oil who don't want to get it.

I suspect that they are very wary of big auto and for that reason will not be going public any time soon.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Green Car Congress © 2013 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group