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Tesla rockets to $259 a share on Morgan Stanley, Consumer Reports announcements [w/video]

Remember way back when we mentioned that Tesla's Gigafactory for batteries might prove to be a good investment opportunity, with its potential to bring cell prices down to a level that could make the forthcoming Tesla Model E affordable, not to mention attractive for massive amounts of renewable energy storage? Well, today the automaker's share price popped – we'd say exploded, but it's not as alliterative – up over 15 percent to hit an all-time $259.20 high. It seems market analysts at Morgan Stanley were way ahead of us, and they have now released a report outlining their decidedly optimistic expectations. Authored by analyst Adam Jonas, the document looks forward to a Utopian future (around 2026, for those anxious for such a thing) where it is predicted that Tesla will enjoy a commanding share of both the battery and autonomous automobile market, and its revenues will be sixty times that of today. Sixty times. That's a pretty sunny outlook. Not incidentally, the financial services company also has doubled its target price for TSLA, from $153 to a nice, round $320. Consumer Reports named the Tesla Model S its best overall top pick for 2014. That rosy outlook report is not necessarily the only thing filling the sails of the California automaker today. Consumer Reports has also also added to the momentum, naming the Tesla Model S its best overall top pick for 2014. And now we hear that Panasonic and some partners are interested in investing almost a billion dollars into Tesla's new gigafactory. Of course, we here at AutoblogGreen are simply scribes, not investment professionals, so this is not an encouragement to buy, sell or hold. We can recommend, though, that you scroll below and check out CR's brief video containing all 10 of its 2014 top picks. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Elon Musk hints at need for franchised Tesla dealerships

The auto dealers around the US, the ones who are frantically trying to stop Tesla Motors from selling its cars directly to consumers, might just need to wait things out. The latest state to take an aggressive stance against Telsa's dealer-free policy is Michigan, but in an new interview with Autoline Daily, Tesla CEO Elon Musk said that as the company grows, it may need to introduce franchised dealerships into its sales model. Currently, Tesla only sells vehicles directly to customers through a network of Tesla Stores. But that may not be enough once more vehicles – the Model X and the Model 3 – arrive and demand for the electric vehicles grows in all fifty states. According to Autoline Daily host John McElroy, when he asked Musk about future growth, Musk admitted that, "We may need a hybrid system, with a combination of our own stores and some dealer franchises." That's a big turn around from Musk's previous claims that normal dealerships can't properly sell electric vehicles and that, if necessary, Tesla would try to change the laws nationwide to allow direct sales, a strategy that has had its share of successes, including surprising support from the FTC. Still, selling a few thousand vehicles a month is a lot different than selling tens of thousands, and that's the sort of thing that Tesla's legislative director Jim Chen may have been thinking about when, in a closed-door regulatory meeting in the fall of 2013, he reportedly said that Tesla would stop its factory-direct-only policy once sales increased to some unspecified level, according to Hybrid Cars. You can see the AD video below. The Tesla news is first in the line-up. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

New pictures of Tesla's not-yet-open battery swap station

Katie Fehrenbacher from GigaOm drove down to the Tesla's first battery-swap station in Coalinga, CA to check on its progress. Tesla had said in a blog post that it would start an invite-only pilot pack swap program last month; it doesn't appear that it's begun yet, but based on the almost-finished state of the not-yet-open swapping station, it could start up quite soon. Sited across the street from the Supercharger station at Harris Ranch, the $500,000 swapping lean-to appeared to Fehrenbacher to be a repurposed car wash. It's got signage for its new use, the restrooms are in order, and the mechanicals for changing out batteries have been installed in a bay large enough for one car at a time. This is the 'fee' part of the "Fee or Free" options for recharging a Tesla. Drivers with a bit of time can 'refill' at the supercharger station for free. Those who don't want to stop for more than three minutes - the time it's expected to take to change out the battery - will pay around $50 to $60 for a loaner battery so they can continue their trip. On their return trip, they will return to the swap station and return the loaner pack for their original one; it's said they can also pay to have their battery shipped to them - which seems odd - or pay the difference between the usage of their battery and the loaner. There have been a few articles written about how the battery stations can restore a revenue stream for Tesla, selling ZEV credits to other manufacturers. After CARB rules switched to provide maximum credits only to vehicles that could "accumulate at least 190 or 285 miles, respectively, in 15 minutes or less" - which the superchargers can't do - Tesla's ZEV credit sales dropped to $0 by the end of 2013. The swap stations could fulfill the requirement, although there was once talk that CARB would bar the technology, disallowing battery changing for actual recharging solutions. But that won't matter in the short term; we should find out what the Tesla-buying public thinks of swapping soon. Head over to GigaOm for more pictures of the station.