Daimler got that 10% stake in Tesla that was announced today for $50 million, says a source with knowledge of the deal. They’ve actually taken 9% (they announced “nearly 10 percent” and the post money valuation is $550 million. Our source also says that Tesla’s application for $350 million in federal loans has been informally approved and will also be announced shortly.
That’s not too shabby for a company that was down to just $9 million in cash late last year. The company has also recently said that 1,000 preorders for the new Model S sedan have been received. Over 500 were reserved in the first week after it was unveiled.
This car is a both a work of art and a technological marvel. Daimler is getting a great deal with this investment. The car is beautiful from al angles.
too much hype… they’re at best mediocre.. their tech sucks, batteries come from a123 systems, drivetrain is old an outdated… seriously I fail to see any value, other then having a few cars on the road and some experience.
too much hype around nothing. And my tax dollars going to these freaks makes me sick… why don’t I have a choice. THAT IS SIMPLY BS. Why the heck do they need my tax money.. wtf. Why does the government not invest tax money into my company.. wtf is so special about tesla… there’s some seriously bs going on..
Okay, then, what have *you* got?
Nothing? That’s what I thought.
If the Tesla drive train is old, then the drive train found on 99.99% of cars on the road today is positively cretaceous.
Ok GM’s market cap is currently 750 Mio, and Tesla’s is supposed to be 550 Mio.
It tells you how absurd this is… and proof of the hype curve.. and how the heck my tax money is going to these dufuses… is beyond me.
noobsss, you, sir, are an idiot.
jd = just dumbass
noobsss’ comments are dead on accurate. Tesla is a bullshit con job. Musk is always crying about needing special consideration because his company is “green”. How is a car full of toxic waste batteries that get charged by nuclear generated power anything close to green. If they can’t survive in the auto business without tax money they should be “deadpooled”, and they can take all the other leeches with them.
I’m happy for Tesla but they have to work on their interior. Especially the gear box its ugly.
This is great news for Tesla. Does anyone know the post money value of Tesla after its last round? Is this an up round, if so how much?
Tesla Motors, just come to China. We need you!
Yeah the gear box makes me cry. And the glovebox? PuhLEEZ.
how can a car company needing a bailout be investing 50 million in another car company?
CarsLocator.com – propel yourself
Hey dumbass, Daimler isn’t Chrysler anymore. Maybe you should pull your head out of your ass and put it in a newspaper. Has the US actually offered to bail out Daimler?
youareanidiotlocator.com — enough said
ROFL!!
Great news – good for Tesla.
Congratulations to Tesla!
Why is Telsa a technology startup?
If you guys want to cover CleanTech, start CleanCrunch.
How is clean tech not technology?
if TechCrunch listened to the advice of every commenter and applied it.
1. TwitterCrunch would have 15 post a day and over a million RSS subscribers.
2. CleanCrunch would have 500 subscribers and have 1 post a week.
3. FaceCrunch would have depressing stories about Facebook going under and how pissed off their users are.
4. MobileCrunch would never post another iPhone story and simply talk about how amazing and awesome Blackberry is.
5. CrunchGear would never post another story related to Apple and only talk about USB humping dogs and USB rocket launchers.
6. Arrington would have retired already.
7. Duncan Riley would still be working here.
8. TechCrunch would have 2 posts a day because without cleantech, twitter or facebook there would be nothing to write about.
So um ef you and STFU and let TechCrunch be tech crunch and stop bitching about everything.
You are the only bitch that I see here. Take your own advice, douche.
Yeah, there’s not much tech in a Tesla car!
Not bad? Are you kidding? That’s awful.. when companies like Twatter are pulling in rediculous valuations and investments.. this is an abomination.
Not to be a party pooper but should I remind you all what great investment Daimler made in Chrysler… So, building great cars is one thing, being a bad investor is another.
The small part of this story at the top of the home page values them at $500bn . . .
Hi folks,
Look out for China’s BYD to bring plug-in hybrid, electric cars to US in 2011
I am so excited for Tesla! This country needs this type of innovation, and I’m glad the government is going to let them continue.
Out of all of the companies applying for federal loans, there was absolutely no reason to mess with Tesla, who comes out of Silicon Valley.
There’s much bigger issues at hand in Detroit.
This is fantastic news, and for a struggling company it shows they’re looking to build for the future. Too bad they can’t get these things out fast (and affordable) enough just yet.
yeah it needs innovation but NOT WITH MY F$CKING TAX MONEY… THAT STIFFLES INNOVATIO IF YOU HAVE TO AND GIVE THEM MONEY.
GM’s market cap is 750 Mio. .and Tesla’s 550 Mio.. I leave it up to you to think about how absurd that is…. what is in there nothing. HYPE that’s all… everything else sucks, including a really incapable ceo that insiders call an a$$hole
Ya but he called Randy what’s his nuts from the NY Times a DB. I’d invest in that.
…absurd???
1.- GM has lost $51 BILLION USD in the last 4 years and it is still hemorrhaging cash
2.- Their current “Retained Earnings” is -$91 BILLION USD
3.- GM is very likely to go into Chapter 11 in which case it’s common equity will be valued at zero (they have $173 BILLION of liabilities on their books)
4.- GM is shirking by the second
Does that compare favorably to a company that is growing??
Anyone who buys a tesla will live to regret it. Total joke.
I almost shat myself when I saw the featured post image link on the right side – tesla worth over $500 billion. silly typos
i am surprised those people at ford and GM didnt think of this a year ago, instead they were spending money on private jets. shameful.
This is great news for Elon and Tesla!
All you naysayers, just do a tenth of what this man has done (ValleyW specially), then come back and complain about him!
Ya know…build a CO and sell it for > 1 billion, personally finance and put a payload in Earth orbit for < 100 million, Until you do all this STFU!
I personally will not buy a green car (not that there is anything wrong with them), I own a 1987 930 Turbo (I’m sure nobody knows what this car is here)
But I sure support Elon & Tesla’s efforts!!!
It is fools like you that are driving America into the tank. It will take some true American effort to overcome the morass that people like Elon and Obama are creating.
Um…err…you should correct your home page: you say Tesla is worth $500 Billion…..
No matter how crazy you think the idea is, no matter how far out there, I’m surprised people haven’t learned this by now:
Never, ever, ever bet against Elon Musk.
Smart move, especially considering the recent strategic alliance between Daimler and Evonik Industries to develop and market lithium-ion batteries for hybrid-electric and electric vehicles.
Is there a market?
Any idea what is cost to run such a car that takes long to “refuel” (45min instead of 3 minutes for a fuel car)
Electric power needs to be generated from other energy.
There is a big loss during this first energy conversion.
Then the power needs to be transported over power lines to your house causing another energy loss.
If the electric power at your home needs to be converted into another level (480v) or type then there is additional energy loss (heat of the electric transformer).
In the batteries there is energy dissipation when not in use.
Then finally the battery energy needs to be converted into powering the wheels. (Most engines are about 94% mechanically efficient)
The total energy efficiency will be very low.
Combustion engines just convert the fuel into power for turning the wheels in one event with an efficiency of just 20%.
Electric cars are a waste of energy.
Large scale electricity production is 2-3 times more efficient than small gas engines.
jd you are rediculous. Endago is correct. As an energy company exec I would be glad if you were correct, but you couldn’t be more wrong. We have been working on alternative fuel vehicles for decades, but nothing can compete with the combustion engine. It is the false claims such as yours and others like Musk that cause the greatest setbacks in progress. Truth always wins out over lies and hype when it comes to energy resources.
With this kind of demand, I’m still waiting for someone to stuff a tweaked Toyota hybrid engine in a (very lightweight and well handling) Lotus chassis, and sell it for 1/2 the cost of a Tesla, making a fortune in the process and delivering a car that appeals to “mainstream green” car enthusiasts that like to drive on twisty roads more than 30 miles away from home. The concept that people should be carrying around a ton of batteries wherever they drive – and call that “green” – is ludicrous.
@Engago team
“Combustion engines just convert the fuel into power for turning the wheels in one event with an efficiency of just 20%.”
Well, despite your best efforts, I think you’ve just made the case for electrics. You cite the various losses involved in getting electricity from the power plant to the car (all above 90% and which when combined are still relatively low), but you fail to say anything about the energy needed to refine, pump and transport gasoline. The gas just doesn’t magically appear in the tank, you know. All of that on top of the low efficiency of the internal combustion engine (~20% vs. ~94% for an electric motor) adds up to make electric cars MUCH more efficient at converting fuel into miles traveled. Look up studies on “well to wheel” efficiency and you’ll see that electrics are the clear winner. Also, even if coal is burned to make the electricity, electric cars still create less pollution than gas powered cars (and if you make power from clean sources like wind, solar or hydro, then the numbers for electric cars get even better). And sorry Steve, if you were really an “electric company exec,” you would know more about the relatively high efficiency of AC generators and tranmission lines… oh, and you would know how to spell “ridiculous” correctly. Sorry, but massive fail on both your parts.
Sorry, in my first sentence there I should have said that the various losses involved for electricity generation and transmission are relatively low and that the EFFICIENCIES are all above 90%. Just wanted to get that straight.
http://www.info...SSfeed_IWK_News
Tesla recalls all cars built before April 22.
Finally, a total electric car with the resources to get into major manufacturing. As production levels increase, the cost of all components goes down. I expect the Roadster to remain a high end luxury car, but the Sedan and probable follow on vehicles will continue to drop in price, resulting in increasing sales, etc.
MAss production, with the accent on MASS, is truly wonnerful,,,
,,,and for those who gripe about short range/long charge times, I’ll just note, THE TECH IS YOUNG,,,
,,,see the following link about Li/Sulphur batteries with their potential 5 to 10 times greater charge capacity than Li-ion batteries. How would you like to be able to drive 1500 miles on a single charge?
http://osdir.co...2/msg00014.html
Gary 7