January 2010
Tesla IPO Update #2: Roadster Production to Stop in 2011, New Model Due in 2013
By John O'Dell January 31, 2010Ending Roadster Production, at Least for Awhile, Has Always Been Part of the Plan Buried in all the paperwork filed Friday with its notice of intent to go public was this item regarding Tesla Motors' game plan: The company intends to stop manufacturing its Roadster model next year but will resume with an updated, upgraded second-generation Roadster in 2013. The news is making headlines, but it isn't really all that surprising. Tesla has always said that the Roadster that launched it in 2008 as the first modern manufacturer of a roadworthy, highway-legal electric car wasn't going to be forever. more
Tesla IPO Update #1: A Glimpse at EV Maker's Finances, Market for Tech Stocks
By John O'Dell January 29, 2010In its filing this afternoon for an initial public offering, California-based Tesla Motors revealed a bit more about its finances that it has had to in the past. ----------Tesla needs funding to help pay for development and production of its 2012 Model S electric car.---------- The company said it had $106.5 million in cash at the end of the third quarter last year; that it had taken-in $108.2 in revenue since its inception - $93.4 million in the first nine months of '09 - and that it had piled up a $236.4 million deficit - typical numbers for many more
Tesla Motors to Launch Long-Awaited Public Offering, Seeks $100 Million
By John O'Dell January 29, 2010Electric sports-car maker Tesla Motors filed papers with the Securities and Exchange Commission this afternoon to launch a $100 million initial public offering. The move, which comes in a soft economy but at a time public interest in and awareness of electric vehicles is growing amid planned EV and plug-in hybrid launches this year by Nissan, General Motors, Ford Motor, and Fisker Automotive, is expected to serve as a referendum on how investors see the future for electric-drive vehicles. Tesla executives were not immediately available for comment. The Tesla IPO filing was reported by the Wall Street Journal's Market more
Toyota Sales Socked with 75-Percent Drop, Edmunds.com Forecasts
By Michelle Krebs January 29, 2010Toyota-brand sales will drop 75 percent during the sales suspension of its eight best-selling models and some potential Lexus and Scion sales will be collateral damage. "As long as sales of recalled Toyota models are suspended, Toyota will suffer about a 75 percent hit in sales," said Edmunds.com Senior Analyst Ray Zhou, PhD. Even though no Lexus of Scion models are covered under the sticky gas pedal recall and sales suspension, their sales may be down as well. "During this period, Scion may be down about 20 percent and Lexus may be down about 10 percent because of damage more
January Car Sales: Toyota Share Plummets to Lowest Since 2006
By Michelle Krebs January 29, 2010Toyota's market share in January is expected to plummet to lows not seen since 2006, because the automaker issued a stop-selling order on eight models representing more than half of the automaker's U.S. sales this week. Toyota's share is likely to drop to 14.7 percent of U.S. sales in January, Edmunds.com forecasts; the last time it was that low was March 2006 when its share was 14.2 percent. In contrast, Ford is expected to have its best month for market share since May 2006. Edmunds.com forecasts Ford's share at 18.0 percent in January. The last time it was more
GM Video Explains Workings of Volt Extended Range Electric Drive System
By John O'Dell January 29, 2010Having problems understanding how the Chevrolet Volt is supposed to work, or just can't get enough of GM's upcoming extended-range, plug-in hybrid sedan? Well,GM has put together this short video that provide a good, though basic, look at how the Volt and its fuel-augmented electric drive Voltec system works. Just remember, as you watch and listen, that the car's grid-charged electric range really will depend on driving style - also on weather and terrain. We think the Voltec system will be a game-changer, but don't want people believing that they can get in the Volt, hit the freeway and more
Toyota CEO Apologizes; Company Advertises Apology in U.S. Media
By Michelle Krebs January 29, 2010Akio Toyoda, grandson of the founder of Toyota who was named president and CEO of the company last year, made his first public comment about the massive recall that led to a stop-selling order of eight popular models in the U.S. this week. "I am deeply sorry," Toyoda said in a brief interview with the Japanese network NHK as reported by ABC News. Toyoda was attending the famous economic conference in Davos, Switzerland. He apologized to customers for causing them worry. He said he could not answer questions because the company "was still investigating," but he hoped to provide more
Ferrari Makes it Official: A Hybrid From Big Red Will Debut at Geneva Auto Show
By John O'Dell January 29, 2010It's official. Ferrari says it will show off its first hybrid at the 2010 Geneva Auto Show in March. It's a version of the 599 GTB Fiorano (below, right) and we expect it will be augmented with a rear-mounted electric motor, lithium-ion battery pack and a street-going version of the kinetic energy recovery system (KERS) Ferrari developed for - but has since dropped from - its Formula 1 cars. Various unofficial reports have estimated that it will will deliver fuel economy of about 14 miles to the gallon. That may not seem like much, but consider consider that the more
Charging Strategies Will Have a Lot To Do With Electric Vehicle Adoption
By John O'Dell January 29, 2010In brief: EVs will sell better if people know they can find chargers for them. Costco, McDonald's, Starbucks and others can use EV chargers to attract customers. Pre-wire buildings and parking structures to reduce cost of future charger installation Timing the charging of EVs is key to preventing grid overload. By Terril Yue Jones, ContributorWASHINGTON - Want to get people interested in EVs? Put electric vehicle charging stations at Starbucks and McDonalds. Pre-wire parking structures before they're built. Install chargers in the parking lots of large retail stores, such as Costco and Wal-Mart, where people spend a lot of more
Toyota Fixing Sticking Accelerator Pedals with 'Simple and Effective' Modification
By Michelle Krebs January 31, 2010Toyota Motor Corp., its reputation for unparalleled quality challenged by a recall of millions of vehicles for potentially unsafe sticking accelerator pedals, said Monday its engineers have devised a modification for the electronically controlled accelerator-pedal modules that the company can begin to deploy in a week or so. "Nothing is more important to us than the safety and reliability of the vehicles our customers drive," said Jim Lentz, president and Chief Operating Officer, TMS. "We deeply regret the concern that our recalls have caused for our customers and we are doing everything we can - as fast as we more