Breaking News Bar
posted: 5/28/2013 9:53 AM

Tesla motors rises past $100 for first time

hello
Success - Article sent! close
 
Bloomberg

Tesla Motors Inc., the electric-car maker led by Elon Musk, rose past $100 a share for the first time as it prepares to announce an expansion of its charger network for its vehicles this week.

Tesla gained 5.4 percent to $102.32 at 9:35 a.m. New York time after increasing as much as 6 percent to $102.95. The shares have almost tripled this year through May 24, compared with a 16 percent increase for the Russell 1000 Index.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

Chief Executive Officer Musk said May 20 the announcement of the expansion of its so-called supercharger network was being pushed back to this week after the Palo Alto, California-based company repaid a U.S. loan. Tesla became the first recipient of a U.S. Energy Department loan to pay its debt.

Tesla last year began installing solar-powered supercharger stations on major U.S. highways to allow for rapid recharging and extended driving range for the battery-powered Model S. The luxury car, with a $69,900 base price, is rated by the U.S. as traveling as far as 265 miles (426 kilometers) per charge.

Musk has said the company will enlarge that network of chargers, most of which are currently in California, that allow a car to be repowered in about 30 minutes.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here