Not two kinds. Not two types. Two. As in what’s sitting in your two car garage. In what must be the eclipse of brazenness, Tesla announced that “on Friday it signed a memorandum of understanding with Japanese automaker Toyota Motor Corp to deliver two electric vehicles to the world’s largest automaker by the end of month.” And then they sent the press release for that momentous event to all wire services, including Reuters. Read More >
What a week it’s been! Tesla’s stock price is currently sitting just over $16, down from last week’s IPO price of $17. In the meantime, it’s been as high as $29.89 per share. Plenty of analysts figured Tesla’s IPO would be bubble-tastic, but did anyone think the fizz would go out of the EV maker’s stock so soon?
Got range anxiety? Tesla does… [Hat Tip: someone at Chrysler]
When word of the BMW EV called „MegaCity“ first made the rounds, our Ed Niedermeyer called it “BMW’s long-rumored Neo-Isetta EV.” Now, BMW opened the first button of their electric blouse. Read More >
Which part of the car of the future can cost more than half of the car, but has a lifespan a little better than a set of brake disks? The battery. No wonder that battery making is what suppliers focus on. If EVs catch on, you want to be in the battery business. Toshiba and Mitsubishi Motors have ganged-up to produce batteries together, says The Nikkei [sub]. Read More >
There I was yesterday, nattering away about how Tesla can’t keep its focus, unaware that Tesla was releasing “Version 2.5” of its Roadster EV. And by the looks of it, Tesla is almost taking the “Ferrari of Silicon Valley” thing too far, by giving its latest roadster a Ferrari 599 GTO-style red-and-black paint job. What Tesla clearly hasn’t learned from Ferrari however, is that you need to offer more than a revised fascia, improved heat management and an optional back-up camera if you want to trumpet something as new. This is what the industry refers to as a facelift or a new model-year. Still, it doesn’t look half bad…
So Tesla lost $30m last quarter. Do you know who made $20m in profits on Tesla in one day? Read More >
An odd collection of 35 companies and organizations, amongst them the correspondence school Benesse, and the convenience store chain Lawsons, established an association yesterday in Japan to promote electric vehicles. It’s called “APEV,” as in “Association for the Promotion of Electric Vehicles.” (Apparently, beyond Japan.) There is only one problem … Read More >
Far be it from us to tell you to take Jim Cramer’s word as gospel… but he does seem to have Tesla’s IPO figured out. And now that the stock is public (NASDAQ: TSLA), he wants you to run away screaming. We find it difficult to disagree… but feel free to keep an eye on the stock yourself.
A source tells Reuters [UPDATE: Tesla confirms in press release] that Tesla has
sold 13.3 million shares for $17 each, raising about $226 million. It raised the number of shares it hoped to sell by 20 percent. It had planned to sell 11.1 million shares for $14 to $16 each.
That’s more than the “as much as $213m” number floated earlier, but with a recent Toyota deal and an EV-infrastructure bill in congress, Tesla has as much wind at its back as it can ask for. But if investors do get to start trading Tesla stock starting tomorrow, they’ll have a gut check before long. Tesla lost $30m last quarter, and it the second quarter ends on Wednesday. If those numbers show another healthy loss, investors will look away knowing that they’re in a risky, long-term investment. But can a $1.6b market-cap firm really compete in development, design and manufacturing with the giants of the automotive world simply by taking in two times its 2009 revenue in one IPO?
Accelerating up the motorway slip road, the Ampera charges hard and deceptively quickly up to 50mph, but by then the single-speed electric motor’s flat torque curve has begun a nose dive and acceleration at high speeds is poor.
The 0-62mph time of 9 seconds and top speed of 100mph are an indication of this – most family hatchbacks with that sort of sprint capability will have a top speed of nearer 130mph
The Telegraph‘s Andrew English lays into the Chevy Volt/Opel Ampera’s high-speed acceleration, in an early test drive on European roads. Apparently an Opel engineer was embarassed enough by the performance to tell English that
We are considering driving the wheels directly from the petrol engine
Huh?
Pity the automotive industry. With a minimum three-year lead time for new product development, timing vehicle launches to coincide with appropriate fuel price levels is never easy. Chevy’s Volt, for example, was developed and hyped during the gas price spike of 2008 when it seemed almost anyone would pay a hefty premium to ease some of the pinch at the pump. Now though, with gas prices holding steady at around $3, there’s reason to question whether consumers will flock to unproven, expensive vehicles like the Volt, absent a pressing economic incentive to reduce gas consumption. The Freep takes on this topic today, asking with gas prices so low, will anyone buy a Volt? And this is not mere media hype. Bob Lutz fretted about this possibility last year, when he said
If gasoline stays cheap, then the American public says, “I’m not interested in that; I will keep my Tahoe longer.” It puts us in the industry in a position where we are at war with the customer
This would be a depressingly familiar position for GM to find itself in, especially since it would be a product of The General striving to do something different. Gas prices are slowly beginning to go up again, but there’s no sign that this summer will see the kind of energy price volatility that will have the Volt and Cruze (let alone the Nissan Leaf) flying off dealer lots. Do you see gas prices going up soon? How expensive will gas need to be before Americans see cars like the Volt as a mainstream option? What happens to the Volt if gas prices stay level, or even drop? No only are these intrinsically interesting questions, but there’s also lots of money (including lots of taxpayer money) riding on the outcome. What say you?
I don’t know whether you know, but the UK government has a deficit of £155b which needs to be slashed. On June the 22nd, Chancellor George Osbourne laid out his plans on how to eliminate that ugly budget gap. VAT would be increased to 20 percent from 17.5 percent, civil servants would have their wages frozen and benefits would be slashed. Yep, life is going to be pretty grim in the UK for the next five years. Unless you’re a multi-national company with an electric car up your sleeve. Read More >
The simplification of the automobile that’s set to take place with the transition to electric drivetrains is a troubling trend for the industry. As Bertel Schmitt has already explored, switching to electric drive could see component counts cut by as much as 90 percent, meaning the suppliers who build most of the components in modern cars are staring down a steep drop in their business. As Automotive News [sub] reports, even electric motors, which were once thought of as a growth area for suppliers looking to get in on the EV shift, are being largely built by OEMs, freezing suppliers out of potential growth. Toyota, Nissan and GM supply their own electric motors, leaving suppliers like Remy International behind in the dust. So how can suppliers stay competitive as EVs become more popular? Counter-intuitively, the answer may be gas-powered range extenders.
Ah, there’s nothing like a good old Chinese catfight over a foreign joint venture partner. Daimler’s Chinese partner BAIC (they build the E-Class and C-Class in Beijing) became increasingly green-eyed watching Daimler playing footsie with up-start BYD. Now, BAIC is throwing a fit.
Gasgoo says that BAIC might withdraw from or delay its planned acquisition of Fujian Daimler, and this could frustrate Daimler’s partnership with BYD. Why is that? Read More >
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