Tesla: The Attacks Keep Coming (Barrons)
Poor Tesla Motors Inc (NASDAQ:TSLA). Value investors-including Barron’s–despise it. The legacy automakers are gunning for it. And dealers are doing what they can to stifle its momentum. …General Motors Company (NYSE:GM) is developing an electric car that can go 200 miles on a charge for around $30,000, officials at the largest U.S. auto maker said, offering a challenge to luxury electric-car startup Tesla Motors Inc. Doug Parks, GM’s vice president of global product programs, disclosed the effort on Monday at GM’s battery laboratory and test facility in Warren, Mich., but didn’t say when the car would be available. He said while the technology is available now, the cost of the batteries remains too high to be able to pull off the feat today.
GM building Tesla rival car (BizJournals)
General Motors Company (NYSE:GM) is offering a new challenge to Tesla Motors Inc (NASDAQ:TSLA), developing an electric vehicle that can drive 200 miles on a charge and will cost only around $30,000. The Wall Street Journal reports GM is aiming to become the biggest seller of electric vehicles by 2018. General Motors Company (NYSE:GM)’s effort to promote its battery research comes in response to Tesla’s (NASDAQ: TSLA) Model S sedan, which sells for $70,000 and up.
Tesla, Sina Lead Techs with Surprising Earnings (Cabot)
Telsa Motors (TSLA) and SINA Corp (NASDAQ:SINA) lead an elite group of tech stocks that blew out earnings last quarter and are expected to post stellar results this quarter, Investor’s Business Daily reported. Tesla Motors is a California- based electric car company. In Q1, the company reported its first profitable quarter and in Q2 Tesla reported earnings that topped estimates by 217.6%. Analysts are expecting Tesla’s Q3 earnings to jump 113% from last year. Tesla shares have surged 340% since the end of March.
JAC touted as likely partner for Tesla Motors in China (WantChinaTimes)
Although rumors that US electric-car manufacturer Tesla Motors Inc (NASDAQ:TSLA) and Chinese truck manufacturer Anhui Jianghuai Automobile Co (JAC) will set up a joint venture remain unconfirmed, Tesla is still very likely to forge cooperation ties with an as-yet unidentified local automaker, the Shanghai-based Economic Observer reports. JAC Motors recently announced its plans to bring in a strategic investor. Senior executives at the company have praised Tesla Motors on several occasions, giving rise to speculation over the possibility of cooperation between the two automakers.
Is Tesla Motors Headed for a Steep Correction (SBWire)
With the price of the share skyrocketing in less than 52 weeks, Tesla Motors Inc (NASDAQ:TSLA) has reached a market capitalization of nearly $20 billion. Many doubt whether TSLA’s share price currently at $165 a share, is really worth as much as the market suggests. To put it differently, is the stock overvalued? The stock trend in the last year: up more than 700%.