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Tesla to earn $250 million from sales of California environmental credits

Tesla Motors is expected to release quarterly earnings figures within the next few days, and the Silicon Valley automaker is thought to have attained profitability for the first time ever. As it turns out, a good bit of that profit will reportedly come from the State of California.
According to an article from the LA Times, Tesla, which is reportedly on pace to sell 20,000 vehicles in 2013, receives as much as $35,000 in environmental credits from California for each Model S it sells. These credits can then be sold to other automakers that do business in the state but don't sell zero-emission vehicles of their own. Some experts believe Tesla could earn up to $250 million from such ZEV credits.
While profits from ZEV credits equals good news for Tesla, some experts and rival automakers aren't very pleased with California's strong-arm tactics when it comes to the sales of electric vehicles. "At the end of the day, other carmakers are subsidizing Tesla," said Thilo Koslowski, an analyst at Gartner Inc.

Recharge Wrap-up: Mirai earns Toyota "Most Innovative" honor, Tesla cold-weather range

A Tesla driver has graphed the effect of cold weather on the driving range of his Model S. Rob at Teslarati kept track of the amount of miles driven and energy used and mapped that against temperature readings to find how the colder temperatures affect efficiency. The results were an average of 10 miles of range lost for every 10-degree drop in temperature. Also, he calculated that drivers will lose about 25 percent more range when the roads are slippery. Read more at Teslarati. Albany Engineered Composites (AEC) is teaming with automotive engineering and consulting company Ricardo to provide lightweight components to the automotive industry. AEC produces composites for the aerospace industry, and having proven themselves in that field, they show promise for helping automakers make their cars lighter and more efficient without sacrificing structural integrity. "The agreement announced today is excellent news for our global automotive customers as we work to find further weight reductions in vehicles to meet future CO2 reductions," says Ricardo CEO Mark Garrett. With carbon composite prices expected to drop, Garrett believes this is an "attractive solution" for structural components. Read more at Ricardo's website. Toyota Motor Europe (TME) wants to recover all of its hybrid batteries for remanufacturing. TME currently recovers 91 percent of Toyota and Lexus batteries at the end of the vehicles' lives through dealerships, and is now working with independent end-of-life vehicle treatment operators to recover the rest. Beyond just being recycled, Toyota is looking into remanufacturing batteries for other vehicles or for stationary energy storage systems. Read more in the press release below. Fast Company Magazine has recognized Toyota as one of the 50 Most Innovative Companies for 2015 for its Mirai fuel cell sedan. "Toyota plans to do for fuel cells what its Prius did for hybrids: make them ubiquitous and top of mind for environmentally conscious consumers," says Fast Company. The article also notes that Toyota has also made its fuel cell patent public and invested in hydrogen fueling infrastructure. Toyota is ranked number 18 in the Most Innovative list, just below Tesla. Read more at Fast Company.

Elon Musk is Vanity Fair's number one 'disrupter'

Elon Musk's leadership of Tesla Motors has transferred well to pop culture. In this case, the electric-vehicle maker's CEO has popped up as Number 1 on Vanity Fair's annual "disrupters" list. Musk jumped from No. 5 last year and for 2014 came in ahead of Google co-founders Larry Page and Sergey Brin; Apple's Tim Cook and Jonathan Ive; and Facebook's Mark Zuckerberg. Pretty healthy company. Vanity Fair pegged Musk's net worth at $12.9 billion, thanks in part to Tesla's stock climbing up about 70 percent in the past year (despite a recent dip) and has surged by a factor of 16 since the initial public offering in 2010. It also can't hurt that Tesla scored about $1.2 billion in government incentives when it agreed earlier this month to build its gigafactory in Nevada. Additionally, Vanity Fair feted Musk for his involvement in both space-exploration company SpaceX and home solar-panel provider SolarCity and described Musk's marital status as "complicated." VF just loves that stuff. Perhaps most impressive is the fact that Musk was the only auto executive to end up on either the publication's "disrupters" list or its "powers that be" list. The latter was headed by Fox's Rupert Murdoch, Walt Disney's Bog Iger and Comcast's Brian Roberts and Steve Burke. You can read Vanity Fair's write-up of Musk here.