Tag Archives: Tesla Motors

Tesla recalls some Model S cars due to seat-mount defect

Electric car maker Tesla Motors Inc said it is recalling 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.

“This reduces our confidence that the left hand seat back will be properly retained in the event of a crash,” Tesla founder and Chief Executive Elon Musk said in a statement on Wednesday posted on the company’s website.

Tesla Motors to expand network of charging stations

Tesla Motors CEO Elon Musk said Thursday the electric-car company is expanding its network of “Supercharger” stations in California and across the country, and that Tesla Model S owners eventually will be able to drive from Los Angeles to New York using only the company’s network of fast charging stations.

The Supercharger stations are also adding solar power and grid storage, which means they’d be both carbon-neutral and able to function if the nation’s vast electric grid crashed.

Tesla Motors fully repays $465 million federal loan nine years early

After making payments on its loan for more than a year, Tesla on Wednesday wired payment of $451.8 million to fully repay the loan with $26 million in interest and prepayment penalties. The payment was made using a portion of the $1 billion the company raised last week through offerings of common stock and convertible senior notes.

“I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate,” Tesla CEO Elon Musk said in a statement.