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Why Tesla will need more loans to make it through 2013

It's fun to bet against Elon Musk and Tesla - that's the best reason we can find for so many people doing it even though the man, his company and his cars are still here and still very popular. The latest name inscribed in the column labeled "Skeptical of Tesla" is John Shinal at Market Watch who, in year-end commentary on Tesla's financials, says that the "carmaker's financials are reminiscent of a dot-com's." He does not mean that in the good way.
To be fair, Shinal isn't exactly betting against Tesla, he's saying that if you check the bottom lines, the only thing keeping Tesla alive is the hundreds of millions in Federal Department of Energy loans it has received. Based on its filings, he says the company has less than six months of cash on hand, hasn't produced as many cars as it promised and had to lower its revenue forecast for 2012, has had a "year of net losses and negative operating cash flow," and was underwater by at least $37 million at the end of the third quarter.
But Shinal's not done there, summarizing Tesla as an operation with "a poor habit of failing to deliver to customers the cars it has promised them, while simultaneously raising the prices of those yet-undelivered cars," and "a lousy level of customer service." He says there are more damning things to be found in Tesla's SEC registration settlement from September, but we'll have to wait for his next column to find out what those are. The takeaway, in Shinal's opinion, is that even though Tesla will keep getting money from the government, that investors have no business dealing in Tesla stock.

Tesla Model S owners hack their cars, find Ubuntu

There are interesting subsets within the group of people that composes Tesla Model S owners. They include celebrities, Drudge Report-reading conservatives, and, more relevant to this post, tech-savvy geeks. Now, give that last bunch an electric car with an easily-exposed Ethernet connecter and they will try to plug into it and snoop around. Don't believe us? Well, several have already admitted to giving it a try on this thread over at the Tesla Motors Club forum. After wiring into the car's communications system, forum user "nlc" was able to find a number of ports and tap into the data flowing to the center console and navigation screens. Others soon joined in the fun and amongst the slightly esoteric bits of information the "hackers" eventually discovered was that the sub-system runs on a version of Ubuntu operating system, which is a Linux variant. While one person did manage to use the discoveries to get Firefox to display on the center console touchscreen (sideways), it doesn't seem likely anyone will be able to do more invasive things with the Ethernet entry point like, for example, transform an early 40-kWh Model S into a 60-kWh version (you can't hack extra batteries). For those who want to customize the big 17-inch display, or at least get it to play video, it seems they'll be better off waiting until Tesla is ready to release the software development kit (SDK) it has promised for third-party app builders. For its part, the California automaker isn't particularly thrilled to have its customers digging beneath the dash. Through its service center, it has already contacted the original Ethernet exploiter to let him know they were aware of his actions and that such activity could lead to a voiding of the warranty. Indeed, the Motor Vehicle Purchase Agreement (MVPA) which buyers sign does contain a clause which reads, in part, You may not, or may not attempt to, reverse engineer, disassemble, decompile, tamper with or engage in any similar activity in respect of a Tesla Vehicle, nor may you permit any third party to do so, save only to the extent permitted by applicable law. It could be argued that this light-handed geekery doesn't quite measure up to the legal extent permitted, but we know if we owned a car that costs as much as $100,000, we wouldn't be risking it. Not when there are salvage-titled cars out there on which to practice the black arts.

Regulators consider adding more carmakers to Takata recall

Volkswagen's diesel emissions scandal has been getting a lot of press recently, but the Takata airbag inflator affair could be grabbing headlines again soon. According to Bloomberg, the National Highway Traffic Safety Administration is contemplating an expansion to the campaign that could add seven automakers to the 12 already affected. They are Jaguar Land Rover, Mercedes-Benz, Spartan Motors, Suzuki, Tesla, Volvo Trucks, and VW Group. To be clear, there's no recall for any of these automakers, yet. The government is simply asking for a full list of vehicles that each of them have with Takata-supplied inflators containing ammonium nitrate propellant. The agency is concerned this substance could play a roll in the ruptures. "NHTSA is considering not only whether to issue an administrative order that would coordinate the remedy programs associated with the current Takata recalls, but also whether such an order should include expansion of the current recalls," the letters say. All seven can be viewed, here. From a report supplied by Takata, the government already knows that the company supplied 887,055 inflators with ammonium-nitrate propellant to VW and 184,926 of them to Tesla. In an incident during the summer, a side airbag allegedly burst in a 2015 VW Tiguan. In early September, NHTSA put out a revised report that there were 23.4 million inflators to be replaced in 19.2 million vehicles in the US. An earlier accounting from the agency had about 34 million of the parts in 30 million cars. High humidity is still believed to be among the biggest risk factors for the ruptures. Although, if ammonium nitrate also gets the blame, some already recalled models might need to be repaired again. Related Video: