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Tesla talking about first European factory, but it won't happen soon

Tesla Motors is, as always, thinking big. The company already has a factory in California with a lot of empty space. But with Model S deliveries happening in Europe and a right-hand drive version just launched in the UK, CEO Elon Musk is already talking about building EVs in Europe. We did some math and let's just say we think any such facility is likely a long way off. The California-based company plans on eventually building a factory in Europe, Automotive News Europe says, citing an interview with Musk. But Musk says Tesla would have to sell 160,000 vehicles a year in Europe to justify such a factory. Musk sees that many sales as a given, eventually, and is planning on building an R&D center in the UK within the next two years while expanding its assembly factory in the Netherlands. "It will take Tesla a bit longer to ramp up in Western Europe than in the US" – Ed Kim But just how long might it take to get to that 160,000 figure across the Pond? Well, through the first four months of the year, Tesla sold 3,467 units of its Model S electric sedans in Europe, Automotive News says, citing research firm JATO Dynamics. Extrapolating from Tesla's first-quarter 2014 delivery numbers (the company doesn't publish monthly sales totals), Tesla sold about 8,600 Model S sedans worldwide through April. Even if Tesla speeds things up in Europe this year and approaches, say, 15,000 units, that's still less than 10 percent of Musk's goal. Even with new models, 15,000 is a long way from 160,000, and it appears that Tesla will grow slower in Europe than it has in the US. "It will take Tesla a bit longer to ramp up in Western Europe than in the US," Ed Kim, vice president of industry analysis at AutoPacific, told AutoblogGreen. "This is partially due to infrastructure issues. In the US, most potential Tesla customers live in detached single family homes, making installation of a personal charging infrastructure at home a snap. In Western Europe, many potential customers – even affluent ones – live in communal living situations like condos and apartments. And even having assigned parking does not guarantee that they would be able to install chargers there." Earlier this year, Tesla dropped the prices of its Model S in Europe because of the strengthening of the Euro. The company initially priced the Model S in the UK at almost $20,000 above the US base price.

Recharge Wrap-up: Chevy Volt class action suit proposed, Tesla stock could outperform in 2015

A class action suit has been proposed against General Motors for a steering problem in the Chevrolet Volt. The plaintiffs claim that a defect can cause the steering to freeze intermittently, and that General Motors either knows or should have known about the problem. The case, filed in New Jersey, also claims that defective parts are replaced with the same or similar parts, which are also defective. The plaintiffs say that claims for the 100-plus-member class exceed $5 million. Read more at Law360 or at BigClassAction. Tesla Motors stock (TSLA) has risen after weeks of losses. It gained 5.4 percent during the week ending December 19, when it closed at $219.29 per share. Since then, it rose slightly more, closing at $222.26 on December 24. Morgan Stanley lowered its target price on Tesla stock from $320 to $290, predicting lower sales on the upcoming Model III than expected before, but still called Tesla a good long-term investment. Analysts at CNBC predicted Tesla to be the best performing stock of 2015. Read more at ETF Daily News. Oslo- and New York-based architecture firm Snohetta has designed a zero-emissions house that also charges an electric car. The ZEB Pilot House, built in Larvik, Norway, uses a solar panel on the roof to power the house, which also provides enough excess energy to charge an EV. To make the most of energy most efficiently, the house uses smart technology to use as much energy as it can once it's harvested. This means one can turn on appliances like the washing machine remotely while the sun is at the optimum angle in the sky - perhaps during mid-day when the residents are at work. The house also uses organic materials and is designed to save as much energy as possible. Read more at Wired.

CARB scrapping plan for $60,000 limit on EV rebates

In April, we heard about a discussion within the California Air Resources Board (CARB) that would have put a $60,000 MSRP limit on plug-in vehicles that would qualify for CARB's $2,500 rebates. A new report in Silicon Beat says that CARB is once again ready to give EV money to everyone, no matter what expensive car they buy. There's no question that the CARB proposal would have had an inordinate effect on Tesla Motors, the only company selling a EV expensive enough to cost more than $60,000, the Tesla Model S. Okay, the Cadillac ELR plug-in hybrid would also have been affected, but that only would have applied to a small handful of people. According to Silicon Beat, the updated CARB proposal says clearly that, "at this time staff is not proposing any significant changes to the Clean Vehicle Rebate Project as part of this year's Initial Funding Plan." CARB spokesman David Clegern told Silicon Beat that, "It's fair to say [the $60,000 limit] been removed. I never say anything is dead until after the vote, but I'm not aware of any plans to revisit it." In other words, Tesla, you're good to go. We've asked CARB for confirmation of this, but have not yet heard back.