Announcements of businesses leaving regulation-happy and costly California or declining to do business in California are as common here in the Golden State as seeing a Prius blocking the left lane on the 405. This move is a bit of a surprise as California-based Tesla Motors said this morning that they have eliminated the state as a possible site for their $5-billion dollar battery factory, meaning only Texas, New Mexico, Arizona and Nevada remain in the running. (Read More…)
Writing in Bloomberg View, former EIC Ed Niedermeyer has published a crtical essay of Tesla, albeit one with a fresh angle: Toyota, one of Tesla’s main automotive partners, is in fact the true force of disruption in the automotive world.
After months of speculation, Tesla drew back the curtain on their most ambitious project to date, the Gigafactory.
Tesla’s shares roared to over $250 on Tuesday February 5th, amid release of financial results. Tesla’s 8-K regulatory filing highlights a record 6,892 Model S’s sold, non-GAAP earnings of $46M ($0.33 on a per share basis), and projected vehicle delivery growth of 55% among others. The shares are currently trading just above the $260 during after-hours trading.
Though quality and performance have improved as of late for products made by the Detroit Three, they still have a ways to go to beat the Japanese brands dominating Consumer Reports‘ current rankings.
In the wake of Tesla shares hitting an all-time high of $259.20 after Morgan Stanley raised its target price to $320/share, battery maker Panasonic is gathering a few partners to go all in on a $1 billion investment in the automaker’s Gigafactory battery production plant.
Tesla announced their Q4 2013 earnings saw a total net loss of $16 million while pulling in an annual revenue of $2 billion on the strength of higher sales and more efficient manufacturing methods.
Electric vehicles tend to get a pass from many reviewers, who are content to overlook major faults in favor of a great drivetrain. Years back, I did a review of the Nissan Leaf for EcoModder, an eco-enthusiasts site dedicated to fuel-friendly modifications and electric vehicle (EV) projects. In retrospect, I was far more impressed with the fact that it was just an electric car than the car itself. A Leaf is still a rebodied Nissan Versa with illusions of green responsibility. It’s neat, but it’s not that outstanding if you look at it simply as another car.
During a Tesla townhall meeting at the automaker’s European headquarters in Amsterdam, CEO Elon Musk announced to owners that an all-wheel drive version of the vaunted S would arrive in showrooms by the early months of 2015 at the latest.
Toyota is an old family firm. Ford is 111 years old. Chevrolet celebrated its centennial not long ago. Mercedes-Benz traces its lineage back to the 19th century. Though not 100 years old like those companies, Honda has been around for more than a half century. In Consumer Reports’ latest brand perception survey, Tesla Motors, a relative neophyte car company barely a decade old, has elbowed its way past Mercedes-Benz for a spot in the top 5 automobile brands assigned points for quality, safety, value, design and technology. The results are based on a poll of 1,578 vehicle owners. CR had earlier named the Tesla Model S electric car as among the very best it has ever tested.
Tesla jumped to 5th in the survey, up from 11th last year and follows Toyota, Ford, Honda and Chevrolet in that order. (Read More…)
As a relatively low-profile Czech motoring journo, I couldn’t expect Elon Musk to hand me the keys for a long-term press loaner. Or any other kind of “official” experience with Tesla, as they aren’t even sold officially in our country. But I did manage to get my hand’s on one via a friend’s father is an avid fan of EVs. As soon as the Nissan Leaf entered the European market, he bought one even if it meant to order it in Spain (about two thousand miles away) and have it trucked here. And when he learned about the Tesla Model S, he placed an early order, which made him one of the first few people in this country to own a Model S (a fully loaded P85 version, no less). Now, there are probably a dozen in Czech Republic. (Read More…)
United Auto Workers president Bob King has said that the labor union is interested in organizing Tesla’s assembly plant in Fremont, California and that a group of workers at the site have set up an organizing committee for the UAW. That factory is where Tesla assembles the battery powered Model S. Tesla has prided itself in being different from Detroit and its headquarters’ location, the Silicon Valley, is not exactly a labor hotbed.
While one analyst implored Apple to go into the automotive industry by purchasing Tesla Motors to the bemusement of all, another analyst is suggesting that General Motors may be the one to pull the trigger in the coming year.
Car dealers trying to head off Tesla Motors’ attempts to set up factory-direct showrooms in Ohio lost a round last month when a dealership licensing amendment that would have blocked Tesla from selling vehicles direct to retail customers in the state wasn’t voted upon in the state legislature. Now the dealers are trying the litigation route, suing Tesla and state agencies to have Tesla’s retail license voided. The defendants are Tesla, the Ohio Department of Public Safety and the Ohio Bureau of Motor Vehicles. The plaintiffs include Midwestern Auto Group in Dublin, Ohio, and Ricart Automotive Group, of Groveport, Ohio. (Read More…)