Category Archives: Electric Cars

Tesla Motors Goes Public

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The hype around Tesla Motors has certainly paid off. As Tesla went public, their stock prices have done better than originally planned. Under the ticker symbol TSLA, the Silicon Valley company’s stock opened at $17 (going up as high as $19), above the anticipated range of $14 to $16.

The company hoped to raise up to $178 million by selling 11.1 million shares, but has done better than anticipated by raising over $220 million in funding by selling 13.3 million shares. Including investments from Daimler and Toyota, and receiving a $465 million loan guarantee from the U.S. Department of Energy to build a factory, Tesla is on its way to becoming a leader in electric cars.

Tesla is best known for their first and only electric car, the $109,000 Roadster, which was introduced in 2008. Selling only about 1,100 of the cars worldwide to the rich and famous. With the IPO proceeds, the company will fund production of the company’s new vehicle, the Model S sedan, which is expected to sell for about $57,000. A federal tax credit of $7,500 for electric cars would cut the price to just under $50,000. The commercial launch is planned for 2012.

Hydrogen Cars – Still An Option?

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It seems that lately there has been much talk about the electric car. The automobile companies have been investing large amounts of money into electric cars with the hopes of becoming the leaders in the industry. The installation of more charging stations has not only made it more convenient to charge an electric car, but the installation of solar charging stations has made the drain on the power infrastructure less of a problem.

Still, the hydrogen car lurks in the background. Tucked away on the Torrance campus behind a security guard and a locked gate, a system designed to power Honda’s limited-production FCX Clarity sedan and other hydrogen fuel-cell vehicles uses solar panels to power a machine the size of a mini-refrigerator. This system converts water into hydrogen and oxygen gases and then pumpes the hydrogen directly into the car. No fossil fuels, no pollution, no additional strain on the power grid — and all done at home. It’s called a residential hydrogen refueler, and only one currently exists. According to statements from automakers like Honda, General Motors, Toyota, and Mercedes they hope to begin selling hydrogen-powered production cars to consumers as early as 2015.

Other hydrogen fuel-cell cars, only available by lease, exist. Made by GM, Toyota and Mercedes, most of the lessees are in “station clusters,” specific geographic areas that have hydrogen fueling stations. It’s the scarcity of these hydrogen stations that’s seen as one of the biggest barriers to mass adoption of fuel-cell cars.

The installation of these residential hydrogen refulers would solve this problem, but at what cost? Honda won’t say, but it’s a promising technology that advances the trend toward consumers detaching from a fossil-fuel economy and becoming more self-sufficient. It’s a future in which American homes are less reliant on a large-scale infrastructure — power grids, and water districts — and provide at least some of the solutions themselves via solar panels, gray-water systems, rainwater harvesting and home-based car-refueling technology.

Tesla Motors Publicly Offered

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Tesla Motors Inc., a Palo Alto, Calif. based company, is scheduled to make a public offering to trade at the end of the month in hopes of raising as much as $178 million. The electric car maker, best known for its one and only all electric Roadster model, plans to sell 11.1 million shares at about $15 per share.

At the end of last month the company announced a $50 million investment from Toyota Motor Corp., and that they would be moving into the automobile plant recently closed by Toyota.

Tesla said it lost $25.5 million in the first quarter of 2010, compared to a quarterly loss of $16.0 million a year earlier. For all of 2009, it lost $55.7 million less than the loss in 2008. While electric automobiles are seen as an emerging technology, they are considered an early-stage industry that could take a decade to become more established, making the Tesla offering riskier.

Networked Charging Stations For California

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Coulomb Technologies, a leader in electric vehicle charging station infrastructure, has announced that they will be spending $37 million installing networked charging stations throughout the United States. The program will provide almost 5000 charging stations in Austin, Texas, Detroit, Los Angeles, New York, Orlando, Fla., Sacramento, Calif., the San Jose/San Francisco Bay Area, Redmond, Wash., and Washington DC.

A wide network of charging stations is expected to help quell fears that future electric car owners won’t be able to drive far beyond their home charging base. In support of the ChargePoint America program, three automakers have committed to deliver electric vehicles in designated US regions. The Chevrolet Volt, the Ford Transit Connect Electric and Ford Focus Electric through the “Ford Blue Oval ChargePoint Program”, and the smart for two electric drive will be introduced along with this program.

ChargePoint America will offer both home and public charging stations to individuals and businesses. Charging stations owners can set their own prices for charging through the Flex Billing™ system. The Flex Billing system enables station owners to set pricing as a function of time of day, calendar date, and driver – much like a parking meter. Those same stations can also be configured to provide “free” access to EV drivers.

Coulomb’s ChargePoint® Network, is open to all drivers of plug-in vehicles and provides authentication, management, and real-time control for the networked electric vehicle charging stations. The network of electric vehicle charging stations is accessible to all plug-in drivers by making a toll free call to the 24/7 number on each charging station, or signing up for a ChargePoint Network monthly access plan and obtaining a ChargePass™ smart card. Other future payment options include using any smart (RFID) credit/debit card to authorize a session or using a standard credit or debit card at a remote payment station (RPS) to pay for charging sessions. To locate available charging stations, visit mychargepoint.net and click “Find Stations”.

Ford Investing $135 Million In Michigan Plants

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Ford Motor Co. will be investing $135 million at two Michigan plants that will help introduce five new models by 2012. Ford said it will begin selling two electric vehicles and three new hybrids to meet the new U.S. fuel economy standards. Ford plans to introduce a gasoline-electric version of its Lincoln MKZ sedan and an electric versions of the Transit Connect van this year, and the Focus electric car in 2011.

The investment will result in 220 new jobs by 2012, Ford said, including 130 hourly jobs at a trans-axle plant in Sterling Heights, Mich., and 40 hourly jobs at a Ypsilanti plant that will build battery packs. Fifty engineering jobs will be added as well.

Ford has eliminated 47 percent of its North American workforce since 2006, and had 70,000 workers in the region at the end of the first quarter. The company has cut costs and overhauled its model lineup to become less dependent on sport- utility vehicles and pickup trucks. The automaker ended three years of losses with a $2.7 billion profit last year as the U.S. auto market fell to the lowest level in 27 years.

Good News For The Auto Industry In California

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An automobile plant recently close by Toyota in California will be opening up their doors again for Tesla Motors Corp. Backed by a $50 million investment by Toyota, Tesla will start making electric cars within the year, at the same plant that was shared by a Toyota/GM venture. “By working together with a venture business such as Tesla, Toyota would like to learn from the challenging spirit, quick decision-making and flexibility that Tesla has. Decades ago, Toyota was also born as a venture business,” Toyoda said in a statement.

Restarting the factory is a major achievement for California’s economic development and a rare victory for a state that many business leaders say has become uncompetitive because of more regulations and higher labor costs than other states.

But not everyone is happy. The move is a disappointment for Downey officials who had been in talks with the automaker, hoping the company would set up shop in a closed facility that had once been used to manufacture the space shuttle.

Toyota’s investment in Tesla is particularly important because the electric vehicle company will be competing against better capitalized and larger traditional manufacturers. When an established manufacturer decides to partner with newcomers it will considerably increase the probability of success by giving them manufacturing know-how and access to a distribution network

Fords Electric Van The Transit Connect

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Fords “Transit Connect” all electric vehicle made its debut at the Los Angeles Petersen Automotive Museum this week. One of the first of four battery powered vehicles planned by Ford to hit markets by 2012. This electric powered version of a light duty cargo van has been available since 2003 on the global market and is a popular vehicle for government and corporate fleets. The vehicle can travel a maximum of 80 miles per charge, making it perfect for in town deliveries where there is a predetermined route. Both the brakes and the accelerator pedal incorporate regenerative technologies that extend the vehicle’s range by recharging the battery when the vehicle is slowing down. Production of the Transit Connect Electric will begin in the fourth quarter followed by the Ford Focus Electric passenger car next year.

California The First To See The Volt

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General Motors Co. Vice Chairman Bob Lutz announced that when their Chevrolet Volt rolls off the assembly line, California will be the firsts market to see them in the show rooms. GM will provide 100 Volts and 500 charging stations for California utility companies in early 2011 for road testing. California was chosen as the first “test site”, because of it’s tax credit offerings, and infrastructure to accommodate electric cars.

The volt will be designed to comply with all overseas regulations in the hope of making it an international car. “This is uncharted territory for us,” Lutz said, but we expect to sell between 100,000 to 150,000 plug-in hybrids each year.