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Tesla's Musk Paid $70,000 Salary In 2013

Tesla Motors CEO Elon Musk was paid just under $70,000 in 2013. But he could be in line for much, much more. According to a Tesla filing with regulators Thursday, Musk made a base salary of $33,280 in 2013. That was the minimum he was required to make under California law. He got an additional $36,709 in company bonuses. Tesla says Musk, the billionaire founder of PayPal and rocket-building company SpaceEx, only accepts $1 and returns the rest to the company. Musk could someday rake in much more from the company he helped found in 2003. Under a compensation package approved in 2012, Musk was awarded options to buy nearly 5.3 million shares of Tesla stock at $31.17 each. The stock closed Thursday at $207.86, making those shares worth about $900 million. The plan is supposed to compensate Musk over a 10-year period, but only if the company meets performance goals. Musk can't exercise all the shares, for example, unless Tesla's shares reach a total value of $43.2 billion. The company's shares are currently worth $25.6 billion. Musk would also have to meet milestones for production of Tesla's planned Model X electric SUV and its Generation Three vehicle, which will cost around $35,000. Right now, Tesla only makes the Model S sedan, which starts at $70,000. Tesla said in its filing that some incremental stock value goals have been achieved, but the operational milestones, while probable, have not been reached, so none of Musk's shares have vested. Related Gallery Tesla Model S Wins Coveted 'Car Of The Year' Awards

Automaker interest in open Tesla EV patents is decidedly lukewarm

Tesla Motors made big headlines when CEO Elon Musk announced a few weeks ago that he would open up all of the automaker's patents. The response has been interesting, to say the least, with some electric vehicle advocates and investor groups praising the news and others saying that what Musk did wasn't all that big a deal, in the end. "No major car company would be foolish enough to use Tesla's patents." – Motley Fool The Motley Fool, for example, says that the patents themselves are not all that revealing since, "There often is only so much information that you can get from a patent. Only Tesla knows how to put it all together in a cost-effective manner." And who's to say that once you dig into the patents, they won't be outdated? A search of the US Patent Office reveals 1,444 patents for "Tesla and motors" including some from inventor Nikola Tesla and other sources. The Washington Post says Tesla Motors itself only has around 300 patents. The Motley Fool also notes that Musk's statement was not a legal document and that, "no major car company would be foolish enough to use Tesla's patents based on some undefined words in a blog post by one executive who may not even be working at Tesla in five years." Then there's the fact that the battery technology that Tesla uses, linking up thousands of small format cells from Panasonic, is not something most other automakers have expressed an interest in. The cell patents belong to Panasonic and most automakers use larger format cells anyway. Still, there is some excitement over the announcement in the EV space. The most concrete evidence we have of a major global OEM working with Tesla are the stories about BMW and Nissan meeting with Tesla in secret to discuss charging technology. Details are sadly lacking, but BMW of North America's product and technology communications manager, Matthew Russell, told AutoblogGreen, "We can confirm that BMW Group executives met on June 11th, 2014 with Tesla executives. Both companies are strongly committed to the success of electric vehicles and discussed how to further strengthen the development of electro mobility on an international level. We are interested in the success of electro mobility, but we cannot comment on the business announcements from other companies." But the news has been greeted with a lukewarm 'meh' from most of the rest of the automotive industry.

Nissan edges out Tesla for most ZEV credits sold in California

When it comes to California zero-emissions vehicle (ZEV) credits last year, Nissan was selling and Mercedes-Benz was buying. The California Air Resources Board (CARB) put out its ZEV-credits numbers for the year that ended September 30, which is why we now know that Nissan, maker of the battery-electric Leaf, transferred 663.6 ZEV credits out of its account last year. That just edged out the 650.195 credits that Tesla sold. Chrysler's Fiat affiliate was a distant third, but its limited-production Fiat 500E was still able to generate some ZEV credits and then transfer out 235.2 of them. We don't know how much the buyers paid for these credits, since those details are kept private. It's an ever-changing rulebook over at CARB, anyway. On the flip side, Mercedes-Benz had to buy 663.6 ZEV credits in order to comply with clean vehicle-sales mandates in the most populous US state, indicative of the German automaker's gas-guzzling tendencies. Honda has cars that get better fuel economy than your average Benz, but its plug-in vehicles represent just a fraction of total sales and so it had to shell out for 542.5 ZEV credits. Chrysler-Fiat basically tread water, since the 237.8 ZEV credits it required for compliance canceled out gains on the other side of the ledger. Those Dodge Ram pickup trucks don't exactly help matters. Last year, Tesla sold the most ZEV credits while GM purchased the most. Overall, Californians bought about 3.5 million vehicles for the year that ended September 30, including 38,000 battery-electric vehicles, 30,000 plug-in hybrids and 570,000 conventional hybrids. The longstanding ZEV program means that California now has more than 100,000 ZEVs on its roads. Read this for more details on ZEV credit transfers in California. Featured Gallery 2013 Nissan Leaf View 55 Photos News Source: California Air Resources Board via Green Car Congress Government/Legal Green Mercedes-Benz Nissan Tesla Electric California zev credits