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Wall Street still irrationally exuberant over Tesla shares

In a world where electric cars are far from the norm, it seems odd to us laypeople that you can't buy a share of Tesla stock (ticker symbol TSLA) for less than $230. But a research note issued Monday from Goldman Sach's respected team of auto industry analysts (seen in PDF form in our gallery) has added fuel to the irrational exuberance fire, guaranteeing that Tesla's stocks should hover at these seemingly unreasonable prices for some time.
Goldman Sachs analyst Patrick Archambault compared Tesla CEO Elon Musk to Apple's Steve Jobs, saying the Model S is a lot like the iPhone. The major difference is that it will take a lot longer for Tesla's electric cars to make a sizable dent in the auto industry, Archambault said, than it took for the iPhone to take over the smart phone world. If Tesla rolls out a non-luxury car in the next few years as is rumored, Archambault predicts the company could be selling 500,000 electric cars a year by 2022 or 2023. Based on those projections, the Goldman Sachs analysts says a fair price for Tesla's stock right now is about $200 a share.
Which, in the upside-down world of Wall Street, means the current share price of around $238 is nearly $40 overvalued. But that hasn't stopped traders from pushing up the price of Tesla's stock today between $3 and $4 a share. Over at Oilprice.com (subscription), contributor Martin Tiller on Friday was already sounding the alarm bells, saying Tesla share's are overpriced, despite the promising technology.

Tesla will expand Supercharger network across Europe

It's not as exciting as a new concept vehicle, but Tesla came to the Geneva Motor Show with its own bit of news: Europe will soon get more Superchargers, more Tesla stores and more service centers. More of the company's fast-charging stations means it'll be even easier for continental Model S drivers to get from the North Sea to the Mediterranean for free and without emissions. Tesla said it expects sales in Europe and Asia to nearly double North American Model S sales by the end of 2014. Tesla is getting ready for those extra sales by opening more than 30 new service centers and stores there. The number of Superchargers in Europe will grow fast enough so that, "By the end of this year, we expect you will be able to travel almost anywhere in Europe using only Superchargers," according to CEO Elon Musk. The company has talked about European expansion before, but there are only 14 Superchargers installed in Europe today. The company's expansion map shows growth happening by next winter, but doesn't give a predicted number of stations it will have in the ground by then. Tesla Commits to Further Expansion in Europe GENEVA, Switzerland, March 4, 2014 /PRNewswire/ -- New Supercharger locations and service centers enhance customer experience In order to serve a growing customer base in Europe, Tesla will open more than 30 new service centers and stores across the continent, the company announced today at the Geneva Motor Show. Tesla will also continue rapidly expanding its Supercharger network, allowing Model S drivers to travel long distances across Europe for free. The retail, service, and Supercharger expansions come as Tesla dials up its commitment to Europe, which continues to be a priority market for the company. In a recent trip to northern Europe to engage with customers, Tesla co-founder and CEO Elon Musk highlighted the rapid increase in the rollout of the company's Supercharger network for Europe. "By the end of this year, we expect you will be able to travel almost anywhere in Europe using only Superchargers," Musk said. In 2013, Tesla delivered 22,477 vehicles to customers worldwide. By the end of 2014, Tesla expects combined sales in Europe and Asia to be almost twice as high as sales in North America. Part of that projected growth will come from the UK, where right hand drive versions of the Model S will soon be introduced.

Cadillac, Daimler execs take swipes at Tesla

Despite the financial ties between Daimler and Tesla Motors, at least one Mercedes exec thinks the electric automaker doesn't have a bright future. And over at Cadillac, the message is that Tesla doesn't pose a threat but offers the luxury arm of General Motors more of classroom experience. The Mercedes story runs like this. Mercedes-Benz USA president and CEO, Steve Cannon, said at the New York Auto Show last week that Tesla has "no network" and only offers "little shops that don't have service capacity." He also said: "Folks are buying a Tesla now because they're kind of cool, but if you're a Tesla buyer, you have to have multiple cars. With Mercedes, you have a whole network. You've got no worries. ... Tesla is great, but you've got plenty of well-established brands that mean luxury, like Porsche or Mercedes-Benz, and how long do you think we're going to wait and let Tesla be out there alone [selling premium electric cars]?" "Treehuggers do not buy new luxury cars" – Uwe Ellinghaus For Cadillac's global chief marketing officer, Uwe Ellinghaus, Tesla's EV success represents little other than "a great opportunity and a learning exercise for all of us, and will help us traditional manufacturers to think twice about electric mobility." He added that, "I am not afraid of Tesla. ... There is no willingness to really sacrifice on the traditional qualities of a luxury car. These are not cars for treehuggers, as treehuggers do not buy new luxury cars." Ellinghaus made the comments during a panel discussion at the 2014 Automotive Forum. Perhaps the lesson of Tesla's offer of free Supercharging to Model S owners is what led to Cadillac to recently announce a deal with Chargepoint that gives ELR drivers access to that company's 16,500 charging stations. Read more details on that below. Cadillac and ChargePoint Bring EV Customer Luxury Driving Experience World's largest, most open electric vehicle charging network available to ELR drivers 2014-04-16 NEW YORK – Cadillac today announced a partnership with ChargePoint, the largest and most open electric vehicle-charging network in the world. The collaboration brings Cadillac ELR drivers immediate access to more than 16,500 charging locations on the ChargePoint network. The ELR electrified luxury coupe went on sale at the end of 2013. It embodies Cadillac's Art & Science design philosophy, combining provocative design with progressive technology.