Tesla Motors Inc (TSLA) News: JB Straubel, Killer Bill Progress Report & An Apple Inc. (AAPL) Acquisition

Editor’s Note: Related tickers: Tesla Motors Inc (NASDAQ:TSLA), The Boeing Company (NYSE:BA), Google Inc (NASDAQ:GOOG), Apple Inc. (NASDAQ:AAPL), JPMorgan Chase & Co. (NYSE:JPM)

Tesla’s Straubel Keeps Motors Rolling as Stock Surges 57%: Cars (BusinessWeek)
Elon Musk was fresh off the sale of PayPal and starting another business, commercial rocket service Space Exploration Technologies Corp., when he met kindred spirit JB Straubel. Their shared belief that consumer electronics advances could be applied to more earthly modes of transport is a cornerstone of Tesla Motors Inc (NASDAQ:TSLA) Straubel’s first company, Volacom Inc., designed unmanned electric aircraft. He sold the assets to The Boeing Company (NYSE:BA) and was working with it in late 2003 when he attended a Stanford University speech by Musk on his startup SpaceX. Then, over lunch in Los Angeles, the two moved from ideas on aerospace to electric vehicles.

Tesla Motors Inc (NASDAQ:TSLA)

Emission credits boost Tesla’s profit (WindsorStar)
Tesla Motors Inc (NASDAQ:TSLA)’s first quarterly profit, led by a surge in deliveries of the electric-car maker’s Model S, got an added bump from sales of California and U.S. environmental credits that generated 15 per cent of revenue. Such sales totalled $85 million, the Palo Alto, Calif.-based company said in a May 10 filing. That included California zero-emission vehicle credits of $67.9 million and “other regulatory credits” of $17.1 million, Tesla said. The latter amount, mainly from U.S. rules, wasn’t detailed in the first-quarter earnings on May 8, said Jeff Evanson, a spokesman. The automaker, led by billionaire Elon Musk, has surplus credits because it sells only electric vehicles, which don’t produce tailpipe emissions.

Tesla’s rapid rise (BusinessSpectator)
Kevin Baillie, co-founder of a visual effects company that works on major motion pictures, had never been in a car like his new Tesla Model S electric sedan, but somehow it looked familiar. “When I got into my car, I thought, ‘Wait a minute, this looks like something from the movie I just worked on’,” said Baillie. “It’s like Star Trek.” The ringing endorsement of car enthusiasts like Baillie has given Tesla Motors Inc (NASDAQ:TSLA) a much needed stamp of approval in a ‘green’ car industry that has seen high-profile failures and struggles over the last year. The Model S is 10-year-old Tesla’s first attempt to reach a mainstream audience for electric cars. Sales of the five-passenger sedan have outpaced expectations since its launch last year, and on Thursday, Consumer Reports magazine awarded it with a near-perfect rating.

Bill squeezing out Tesla passes NC Senate (JournalNow)
A bill backed by auto dealers that effectively blocks California’s Tesla Motors Inc (NASDAQ:TSLA) from selling in North Carolina has passed the state Senate. The electric car manufacturer says the bill that passed the Senate unanimously Monday effectively bars it from selling to state residents through its Internet-based model. The bill would require Tesla to go through the state’s system of 7,000 franchised dealers by amending the definition of a dealer. The company recently announced its first quarterly profit and top marks from Consumer Reports.

Would Apple really buy Tesla? (CSMonitor)
It’s been a great run for Tesla Motors Inc (NASDAQ:TSLA) these last few months. The startup electric-car maker delivered 4,900 Model S luxury sport sedans from January through March, got a rave review from Consumer Reports, and reported its first-ever profitable quarter. CEO Elon Musk even dropped hints that it might be working with Google Inc (NASDAQ:GOOG) on self-driving car technology. But Green Car Reports argues that Tesla is unlikely to remain independent in the long term. A few commentators–here and here–have suggested that Apple Inc. (NASDAQ:AAPL) might acquire Tesla Motors Inc (NASDAQ:TSLA), but that seems to stretch credulity.

Tesla Motors Given a $55.00 Price Target by JPMorgan Chase Analysts (TSLA) (MideastTime)
JPMorgan Chase & Co. (NYSE:JPM) set a $55.00 target price on Tesla Motors Inc (NASDAQ:TSLA) in a research note issued to investors on Thursday, Stock Ratings Network.com reports. The firm currently has a a neutral rating on the stock. “Our Neutral rating balances notable investment positives, including a highly differentiated business model, appealing product portfolio, and leading edge technology, with above average execution risk and valuation that seems to be pricing in a lot. Tesla is attractively saddled with none of the pension, OPEB, and other legacy costs which frequently burden large entrenched automakers. Its products are bold, distinctive, elegant, and highly entertaining to drive. The company is led by visionary leadership, backed by a management team with solid functional strength.

Has Tesla Lost Touch With Reality? (Fool)
…Motley Fool industrials analyst Blake Bos takes a look at Tesla Motors Inc (NASDAQ:TSLA) current share price, and why it may be disconnected from reality. Shares of the company are up 117% year to date, with a sharp pop on earnings news after the company announced its very first profitable quarter. These increases bring the company up to a market cap larger than FIAT, and potentially only slightly smaller than Lexus would be if it were a stand-alone company. Blake compares sales for these two brands to current sales for Tesla, and shows investors what kind of already-baked-in growth Tesla’s share price would have to hit in order to justify its current valuation. Finally, Blake gives his overall take on Tesla, and whether it’s a buy, a hold, or a sell at today’s prices.

Tesla hits another dealership roadblock in North Carolina (BizJournals)
A legislative proposal in North Carolina would prohibit Tesla Motors Inc (NASDAQ:TSLA) and any other car maker from bypassing dealerships and selling directly to customers in the state. The News Observer reports the proposal would prohibit selling cars over the phone or the Internet and delivering them to customers. North Carolina is the latest state where Tesla (NASDAQ: TSLA) has found resistance to its plans for direct car sales.

Tesla Model S outsells Mercedes & BMW say CNN. Rubbish. (CarsUK)
We don’t have much time for the push to make the electric car a replacement for the ICE car. But we do applaud – and covet – the Tesla Model S for its technical ability and performance. And its tax breaks. The Model S is proving a big success for Tesla Motors Inc (NASDAQ:TSLA) – and giving Tesla its first trading profit ever and a big jump in share price in the process – with sales in the first quarter of 2013, which saw 4,750 Model S leave Tesla Motors Inc (NASDAQ:TSLA) for customers garages. Now CNN are talking up the success of the Model S (although they seem to have lifted the comparison from Green Car Reports) further by claiming it is now so successful it’s outselling the German luxury competition with far more sales so far in 2013 than the Mercedes S Class, BMW 7 Series and Audi A8. But that’s a pointless comparison.