Tag Archives: Electric Cars

Tesla Releases 5.3 Million Additional Shares

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Tesla Motors Inc. has announced that they will be releasing another 5.3 million shares in a secondary public stock offering of $28.76 per share. These shares will be in addition to a private sale of 1.4 million to Elon Musk, CEO and co-founder of Tesla, plus an additional 637,475 shares to Blackstar Investco LLC, an affiliate of Daimler AG. The company hopes to raise about $211 million which will go towards developing their new SUV like vehicle, the Model X.

In June of 2010 when Tesla first went public, the sale was a big success. The stocks were estimated to sell at about $15 a share but ended going up to as high as $19. Just two days after the release, the stock shot up to almost double the first offering. Despite the huge success, the Tesla IPO soon lost it’s momentum.

Tesla is not expected to make a profit for another two years. They currently sell just one vehicle, the Roadster, a sporty electric car popular with the rich and famous. The first public stock offering has allowed them to develop a more affordable model, the Model S, which will be released to the public next year. The company is currently developing battery packs and chargers for Daimler and Toyota, and have been working with Toyota to develop an electric version to the RAV 4. Tesla shares currently remain steady around $27.00.

Fewer Cylinders Now Offer More Power

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In April of 2010, when the Department of Transportation (DOT) and the Environmental Protection Agency (EPA) came out with their national greenhouse gas emission standards, there were concerns about how the new requirements would be received. It was expected that automobile manufacturers would turn to more efficient conventional technologies, while others would go one step further and pursue more advanced fuel saving technologies like diesel, hybrid and electric vehicles. Today, with gasoline prices on a steady rise, Americans are demanding that their new cars not only meet, but exceed the standards set by the government. Because some consumers are still skeptical of the new hybrid and electric technologies, many have chosen to trade in their V-6’s for more fuel efficient four cylinder engines.

Four cylinder engines now account for almost 65% of all vehicles built in the U.S., Canada and Mexico. This is the biggest shift since the 1980’s when consumers traded in their V-8’s for the smaller V-6 engines. It is expected that within the next five years, over half the vehicles in the U.S. will be four cylinder engines. But todays consumers don’t have to give up power to drive the smaller engine vehicles. New technologies have left the underpowered four cylinder engines a thing of the past, and automakers have changed their marketing strategies to focus on the horsepower and fuel economy instead of the number of cylinders a vehicle has.

Ford new generation Explorer will soon offer two liter four cylinder “Eco Boost” engine and are already working on a 1.0-liter, three-cylinder engine.

BMW, who has not built a four cylinder engine in the U.S. for over a decade is now offering their customers the new Z4 sports car scheduled to go on sale this year, and have also been working on a three cylinder engine.

Hyundai has almost abandoned anything bigger than a four-cylinder, which accounts for nearly 90% of its U.S. sales.

And finally, automobile manufacturers like Honda, Toyota and Nissan, who were once criticized for their small powerless vehicles, are now leaders in the new fuel efficient, environmentally friendly technologies.

New Fuel Economy Window Stickers

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The Environmental Protection Agency (EPA) and the Department of Transportation (DOT) unveiled their new fuel economy window stickers on Wednesday, saying that the new stickers will show the most changes in thirty years. The new labels will allow consumers to compare conventional cars, hybrids and all electric vehicles, giving information on greenhouse gas ratings, emissions, smog ratings, and fuel costs. The new stickers are scheduled to appear on the new 2013 models, but automakers have the option to start using them on on 2012 models as well.

Federal regulators had originally considered using a letter grading system from A to D, comparing fuel economy and air pollution to those of the entire fleet of new cars, but automakers objected, saying that the stickers were too simplistic and potentially misleading to automobile consumer’s. The government instead decided to go with a much busier label with more information and a sliding scale comparing vehicles across classes. According to transportation secretary, Ray LaHood, “These labels will provide consumers with up-front information about a vehicle’s fuel costs and savings so that they can make informed decisions when purchasing a new car.”

The label will also include a Quick Response Code (QR Code) that can be scanned by a smart phone to get information on cost estimates based on a consumer’s driving habits and the price of gasoline and electricity of their area. This information will also be accessible to vehicle shoppers online.

California Hybrid Owners Carpool Privileges

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California has always been a leader in environmentally friendly living. In 2004 we were one of the first to pass a law restricting vehicles’ greenhouse gas emissions and since then the legislation has been extended twice. One of the stipulations of the legislation gave almost 85,000 hybrid owner access to drive in the carpool lanes. On July 1, these get out of traffic free cards are about to expire, and this has hybrid owners protesting

Since the inception of the law, the amount of hybrid, and now electric vehicles on the road have significantly increased. This increase is starting to make car pool lanes more congested especially in the state of California where the percentage of hybrid is now well over 24%. According to state senator, Fran Pavley, one of the original sponsors of the legislation, “An extension of the carpool lane privileges in unlikely to bear fruit.” She says that taking away these privileges ranks right up there with taking away someones firstborn. She added that the legislation should be extended for at least one more year since vehicles that qualify for the new green sticker program do not go on sale until next year.

California Hybrid carpool privileges

Electric Cars Get Top Crash Test Ratings

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When the first mainstream electric cars, the Chevrolet Volt and Nissan Leaf, hit the market, they were advertised as being easy on the pocketbook and good for the environment. Because of their size and weight, may consumers had concerns that safety may have been compromised in order to meet the promised fuel efficiency. Recent crash tests done by the Insurance Institute for Highway Safety (IIHS) have shown that this just isn’t true. In fact, both cars have received “Top Safety Ratings” receiving the highest possible ratings for front, side, rear, and rollover crash protection. According to Joe Nolan, the IIHS chief administrative officer, Eco-minded drivers keen on switching to an electric vehicle should not think twice about buying a Leaf or Volt for highway driving. General Motors and Nissan have shown that safety doesn’t have to be sacrificed for fuel economy.

Small Cars Profitable For Auto Dealers

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During April, the sales of small fuel efficient cars made up almost 20% of the automotive sales market, that equates to a 19% increase from a year ago. Governments incentives to have more environmentally friendly vehicles on the road as well as rising fuel prices, has led consumers to re-think the buying of big trucks and SUV’s. Some of the big sellers include the new Ford Focus and the Chevrolet Cruze.

The overall industry is expected to report slightly higher sales, as the market continues to recover from the recession. Automobile and automobile part shortages as well as the lack of discounts will be a big factor in consumers decision to purchase new vehicles. Consumers may decide to keep driving their old vehicles until the deals return.

Nissan Leaf Electric Car Experiences Restart Problems

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Complaints of starting issues for the Nissan Leaf has prompted an investigation into the electronics of this all electric car. The problem has been traced back to the Leaf’s air conditioning unit, but it is not known if it is a defective component or a problem with the programming of the system. Because the safety of the vehicle is not affected, the decision to issue a recall will not be made until the source of the problem has been identified.

Mercedes Benz Recalls M Class SUVs

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Mercedes Benz is recalling< almost 140,000 of their popular M-class sport utility vehicles for complaints involving the cruise control system. The recall covers the 2000-2002 M-class sport utility as well as the 2000-2004 M-class high performance models. According to the report filed with the National Highway Traffic Safety Administration, a problem with the brake lamp switch will not allow the cruise control to be disengaged when the brakes are applied.

Mercedes says it began looking into the problem in September after some customer complaints. Then in December the safety agency began its own investigation after receiving reports from consumers that there was a problem with the cruise control.

Mercedes will also be recalling some 2011 E-Class sedans and wagons because of a lack of adhesive between the vibration damper and a mass damper ring in the power train. The separation of these parts during operation could lead to serious injuries.

Owners wanting more information on the recall can contact Mercedes Benz at 1-800-367-6372.