Editor’s Note: Tesla Motors Inc (NASDAQ:TSLA)
First Tesla Model S delivered in Europe (WorldCarFans.com)
Tesla Motors Inc (NASDAQ:TSLA) has delivered their first Model S outside of North America. The car, a Model S Signature Edition, was delivered to Norwegian Frederic Hauge who previously bought the first electric vehicle imported into Norway in 1989. Interestingly, Hauge continuously ran his original EV through toll booths without paying until the government seized his car. He would then buy the model back and continue his antics time and time again. This went on until the government decided to eliminate tolls on electric vehicles. According to Hauge, “As Europe’s first owner of the Tesla Model S, I am very proud to be a pioneer.” He went on to say the wait was frustrating but it’s a great day because he finally has his car.
Tesla clean-air credit sales face possible hit from California rule changes: report (MarketWatch)
Tesla Motors Inc (NASDAQ:TSLA) could face a hit to its sales of so-called zero-emissions credits under rule changes being considered by California regulators, according to a report Monday. The California Air Resources Board is considering eliminating its “fast-refueling” rule, which gives extra credits for electric vehicles with batteries that can be swapped quickly, Automotive News reported. Tesla Motors Inc (NASDAQ:TSLA) shares have soared this year, helped in part by the electric sports sedan maker’s first-quarter profit, its first ever. Tesla’s profit came in part because of sales of zero-emissions credits to other automakers trying to meet government clean-air standards.
Tesla shares rocket 14% in after-hours trading (USA TODAY)
Tesla Motors Inc (NASDAQ:TSLA) shares hit the gas on Wednesday in after-hours trading following results that show the company’s revenue is growing better than forecasts and profit that blew past expectations. Shares of Tesla jumped 14% to $153.49 in trading after it reported results. Year to date, the stock has soared 300%. The auto maker, led by founder Elon Musk, report net income of $26.3 million, ahead of expectations for a loss. That comes after it posted its first profit ever in its previous quarter, defying skeptics that it could become profitable.
Tesla reports Q2 earnings (CNBC)
Fate Of Chevy Volt, Rest Of EV Market Separates From Tesla’s (Forbes)
Rather than uplift the entire electrified-vehicle sector with a car that finally grabs the regular consumer, the success of Tesla Motors Inc (NASDAQ:TSLA) Model S seems to be doing the rest of the EV market a huge disfavor: It’s helping create a highly bifurcated segment where only expensive EVs can achieve a feasible volume while the prospects for mainstream electric vehicles seem to grow dimmer by the day. Two cases in point arose this week when General Motors, growing desperate to clear dealer lots of them, announced a $5,000 formal price cut for the Chevrolet Volt plug-in hybrid and Chrysler, at the annual industry conference in Traverse City, expressed its determination to stay out of the EV market until dragged there by consumers.