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Is Tesla quietly sitting on 3,000 cars?

Tesla's 2014 third quarter financial report mixed some positive news with gloomy messages. On one hand, the electric carmaker posted its best quarter ever in terms of deliveries, including its best single day with 907 EVs delivered. The company also announced expanded production to get even more vehicles out the door by the end of 2015. However, the Model X got delayed yet again and higher prices in Europe were mulled. Dousing the results with a bit more cold water, a Merrill Lynch investor letter claims there's more to be pessimistic about the business than meets the eye.
The Daily Kanban, quoting research meant for Merrill Lynch clients, claims that Tesla had "approximately 3K vehicles stocked in inventory or in transit" at the end of the Q3. That's a fairly large number considering that the company reports selling 7,785 units for the whole quarter. The statement is also surprising because the automaker has a reputation for keeping excess supply low, and there are allegedly waiting lists for Model S sedans. CEO Elon Musk maintains that the automaker has a problem being able to keep up with high demand, as well.
According to Daily Kanban, the letter further states, "China is proving to be more challenging for Tesla to penetrate than expected." The automaker does not break out sales by region in its Q3 financials to check this assertion, however, the company does report the recently opened store in Shenzhen is one of its top-grossing stores worldwide and that there are now 23 Supercharger locations in 10 Chinese cities.

In hindsight, Musk wouldn't use Lotus for Tesla Roadster

The world will be a different place after Elon Musk builds a time traveling device (don't ask us how we know that will happen). For one thing, the Tesla Roadster of the rewritten future will not have been built using the chassis of the Lotus Elise. Also, verb tenses will be becoming even more confusing and, possibly, awkward. "We ended up changing most of the damn car" – Elon Musk We know about the not-using-the-Lotus thing because the Tesla Motors CEO said as much yesterday at the World Energy Innovation Forum at the Tesla Factory in Fremont. The two-day event, which also offers Model S test rides and a factory tour for attendees, featured a fireside chat with the electric automaker's CEO and Ira Ehrenpreis. During the discussion, Musk revealed that if he had to do it over again, he would have built the Roadster from the ground up instead of using the Lotus Elise chassis. "We ended up changing most of the damn car, so we thought later, why did we do that," he said. Another problem with the original idea for the car was the drivetrain. At first, Tesla had meant to use the motor and other propulsive bits from AC Propulsion, only to find that powertrain didn't work well in a commercial application. Instead Tesla only licensed the reductive charging patent, which allowed some integration of the inverter and charger. Besides knocking Tesla's own early efforts, the outspoken entrepreneur took a couple swings at other technologies with quotable quotes such as: "The internal combustion engine is a ridiculous thing!" and "Current lithium ion technology is better than theoretical fuel cell limits. So, game over. Why bother with fuel cells?" Looks like there are some things Musk is not interested in going back in time and changing.

Recharge Wrap-up: Tesla store reboot, Jaguar "EV-Type" an electric F-Pace?

The Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) program is creating demand for EVs. $1 million has been set aside for rebates ranging from $750 to $3,000 per car, depending on battery size (in addition to federal incentives). Dealers also get an incentive of $150 to $300 per vehicle to help motivate them to promote EVs. "This is the type of program that can be a win-win-win for the state, auto manufacturers, dealers and consumers," says Chevrolet dealer Leo Karl, who has seen a jump in demand for the Volt under the CHEAPR program. Karl expects the funds to run out as early as this fall. Read more at Automotive News. The Mitsubishi Outlander PHEV is scheduled to go on sale in the US in May 2016. As Mitsubishi makes some changes, including plans to ditch its Normal, IL assembly plant, the company's future in the US is being called into question. The new date for the plug-in hybrid version of the Outlander comes after multiple delays. Mitsubishi also plans to offer a 2016 model of the i-MiEV despite slowing sales. Read more at Automotive News. Tesla is overhauling its stores in advance of the Model X going on sale. The revamp includes informative interactive displays and a heavier emphasis on Tesla merchandise sales. The displays provide information about safety, Autopilot technology, the charging network, electric motors and other information to help familiarize customers with Tesla. The Tesla Design Collection - which includes luggage, apparel and other gear - also helps position Tesla as a luxury lifestyle brand, rather than just a mere automaker. Expect the stores to be continually updated over time. "Tesla is able to pivot in their stores the way they release new software," says Cadent Consulting Group's Ken Harris. "This is important to an emerging brand." Learn more from Bloomberg. Could Jaguar be planning an electric F-Pace called the EV-Type to compete with the Tesla Model X? Autocar is reporting that the upcoming SUV from Jaguar could spawn a whole family of vehicles, including an all-electric version. Jaguar has registered the trademark for the EV-Type name, and that vehicle would likely be built at the Magna Steyr factory in Graz, Austria. That would free up capacity to build the traditionally powered F-Pace in the UK. Read more at Green Car Reports, or at Autocar.