New Jersey State Assemblyman Tim Eustace (D-Bergen) has introduced a bill that would let electric car retailers such as Tesla sell directly to consumers. The bill (A2986) would override a March 11 decision by the state’s Motor Vehicle Commission which effectively banned sales of the Model S. “What we should be doing is supporting American… Read more »
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Arizona considers bill to legalize Tesla direct sales
Tesla’s war with the auto dealers is getting more interesting by the day. Barely a week after New Jersey outlawed the company’s contentious direct-to-consumers sales model, the Arizona legislature is considering a bill that would explicitly legalize it. According to the Associated Press, Arizona House Bill 2123, which was approved by a state Senate committee… Read more »
Opinions of New Jersey Tesla ban cut across party lines: Gingrich criticizes Christie
Despite what you may hear on Fox News, which recently aired an anti-EV rant (the latest of many) that was riddled with misleading statements, by no means all conservatives are opposed to electric vehicles. New Jersey Governor Chris Christie has been taking flak from both left and right since his administration approved a new rule… Read more »
Tesla Gigafactory location: Tucson throws its hat in the ring, California out of the running
The city of Tucson, Arizona has made a formal proposal to become the home of the Tesla Gigafactory. Mayor Jonathan Rothschild said that the city has identified a potential site with access to the railroad mainline and interstates, and that the city could add tax incentives to those offered by the state. “I look forward… Read more »
New Jersey bans Tesla direct sales in last-minute move
Tesla lost a battle in its ongoing war with the auto dealers this week, as the New Jersey Motor Vehicle Commission approved a new rule that will effectively block Tesla’s direct sales model in the state. The new law, which will go into effect in April, requires new motor vehicles to be sold through middlemen… Read more »
Tesla to open 30 new stores in Europe
Tesla is anticipating great things in Europe – by the end of 2014, it expects combined sales in Europe and Asia to be almost twice as high as in North America. The company announced at this week’s Geneva Auto Salon that it will open more than 30 new service centers and stores across the continent…. Read more »
Tesla’s Gigafactory sounds like good news for lithium suppliers
Those who follow the market for lithium, which is evolving into a strategic commodity, have been predicting an oversupply in the years ahead. However, Tesla’s planned battery Gigafactory may consume as much as 17 percent of the world’s current output, benefiting producers like Rockwood Holdings (NYSE: ROC), according to Goldman Sachs Group. Tesla’s appetite for… Read more »
Governor Cuomo backs New York auto dealers in battle against Tesla
As the spring fighting season approaches, New York auto dealers are preparing for a new assault in their campaign against Tesla. Last June, the New York State Assembly ended its legislative session without advancing a pair of bills that would have prevented Tesla from selling its electric vehicles directly to consumers in the state. However,… Read more »
Tesla Gigafactory takes shape, stock soars, short-sellers weep
Let’s all shed a crocodile tear or two for the poor Tesla short-sellers. Their faces (and their balance sheets) turned an even deeper shade of red this week, as TSLA shares powered through the $200 mark without tapping the brakes, on the way to $260 and beyond. A series of positive news items has driven… Read more »
Tesla does it again: sales, revenue, stock price take off
Tesla has done it again. Financials for the fourth quarter of 2013, released this week, show record sales, growing revenue and dwindling net losses. Wall Street dug it. TSLA stock has broken out past the $200 mark and set a new all-time high. By the way, the stock market utterly ignored last week’s report of… Read more »