Tesla Revs Up With $45 Million

May 11 - San Jose Mercury News - Tesla Motors, the Silicon Valley electric-car start-up, intends to announce today that it has raised an additional $45 million - from a venture capital firm as well as its chairman. The company will start producing its first vehicle, a zero-emissions, two-seat roadster, later this year.

Technology Partners, a Palo Alto VC firm that focuses on clean technology and life sciences, co-led the round with Elon Musk, Tesla's chairman. Musk, chief executive of Space Exploration Technologies, is a former PayPal and Zip2 executive. Read More.