Chevrolet has dropped the price of the Spark EV to $27,495. If a buyer qualifies for the federal tax credit of $7,500 – the price will drop to $19,995. The Spark EV went for sale in June in California and Oregon. Spark EV buyer in California can apply for further credits that are up to $2,500.
Tesla Motors Inc (NASDAQ:TSLA) has been having a very great month. The company raised $1 billion in new capital after issuing more shares. The company also reported their first profitable quarter and outsold their German luxury counterparts. On Monday May 13, the company’s stock was trading at about $80 per share and it closed on Friday at $91.50 with a market cap of about $10.57 billion. So what’s next on deck? Superchargers! On Tuesday May 14th, Musk wrote a tweet saying “supercharger announcement pushed to next week. Something else this week.”
General Motors Company (NYSE:GM) is seeing their stock price steadily increasing. The company’s stock price cloud at $33.42 per share on Friday, which is up 3.18%. This is the company’s highest close in over two years. This stock price beats the company’s initial public offering price at $33 per share in November 2010. The increases started earlier this year as the company saw an increase in sales throughout the United States, China, and Europe.
Tesla Motors Inc (NASDAQ:TSLA) has raised $1 billion in new capital after selling more shares in the company. Tesla plans to use the new capital to pay off a $452.4 million federal loan. After that, the company will have around $678.8 million in cash and cash equivalents with long term debt of $600 million, according to a company filing.
Tesla Motors Inc (NASDAQ:TSLA) announced after the market closed on Wednesday that they will be raising capital by offering 2.7 million shares of common stock and $450 million in convertible notes. Tesla Motors CEO Elon Musk is investing $100 million into the company by buying $45 million worth of shares in the public offering (530,410 shares at Wednesday close of $84.84) and another $55 million directly from Tesla in a private placement due.
RelayRides is a marketplace where car owners can list their vehicles and people that need a ride can rent one by the hour or day. RelayRides has acquired a competitor called Wheelz. RelayRides will gain ownership of Wheelz’s assets and IP. RelayRides is hiring Wheelz’s 10 employees also. Based in San Francisco, RelayRides launched around 5 years ago and is available across the nation.