EV sales have cracked the whole-digit mark for the first time. Battery electric vehicles accounted for 1.1% of new vehicle sales in California in the first half of 2013, according to California Auto Outlook, a publication of the California New Car Dealers Association. Hybrids took 7% of the market, up from 6.2% in 2012, while… Read more »
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Elon Musk reveals plan for Hyperloop, might build prototype himself
The Hyperloop: a new and super-high-tech form of transportation that can take passengers (and maybe even cars) from LA to San Francisco in 30 minutes, and that can be built for a tenth of what California is planning to spend on its high-speed rail system. If anyone else had come up with this idea, few… Read more »
In-wheel house: Protean Electric’s in-wheel drive system nears production
When Protean Electric begins production of its Protean Drive in-wheel electric drive system later this year, it could mark the stirring comeback of the wheel hub motor, a concept that’s been more than a century in the making. Electric wheel-hub motors date all the way back to 1884, and none other than Ferdinand Porsche used… Read more »
TSLA floors it again
There’s no stopping Tesla now. The company’s stock (Nasdaq: TSLA) rose over 7% to close at a new high on Monday after a bullish analyst’s report highlighted the strong sales of Model S, and the trickle of good news continued. Jefferies analyst Elaine Kwei noted that most of this year’s gains in the large luxury sedan segment are… Read more »
Break out the Champagne: 100,000 plug-ins have been sold in the US
Is it a milestone in automotive history, or just an odometer moment? Who cares? Let’s celebrate! According to the latest estimates, the 100,000th plug-in vehicle was sold in the US some time this week. This total includes only “highway-capable” vehicles, not “neighborhood electric vehicles,” which number over 60,000 in California alone. The first of the… Read more »
Tesla hits it out of the park, reports first-ever quarterly profit
Those who follow the markets know that earnings reports – good or bad – tend to trigger big moves in a stock price only when they are surprises. No one knows this better than master showman Elon Musk, so in a way it was no surprise that the size of Tesla’s first-ever quarterly profit, announced… Read more »
Tesla slightly sweetens financing program
Tesla has announced a couple of small improvements to the financing program that it introduced in April. It is raising the Model S resale value guarantee to make it the highest of any premium sedan (excluding rare, low volume or limited edition vehicles). Buying a Model S through the Tesla financing offering now comes with… Read more »
Two new in-wheel electric drive systems unveiled
In-wheel electric drive systems are a hot topic these days. Mounting the electric motor and power electronics within a wheel assembly can improve efficiency, save space and give automakers more flexibility in body design. This week, two leaders in the field introduced new in-wheel offerings. Protean Electric announced the debut of its production in-wheel motor… Read more »
Tesla offers financing deal with guaranteed buyback
And the big news from Tesla that we’ve all been waiting for is (drumrolllllllllll)…you can finance a new Model S, and they’ll give you a pretty good deal. What Tesla is calling a “revolutionary automotive financing product” is a 63-month car loan, offered by Wells Fargo and US Bank, with a 10% down payment (with… Read more »
Tesla Shareholder Letter trumpets 2012 triumphs
Tesla’s 2012 Shareholder Letter reads like a bundle of good news for EV fans, but the bean counters on Wall Street are less impressed.