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BYD CEO calls Tesla a rich man's toy, not worried about competition

We've heard the comment, "the Tesla Model S is a rich man's toy" before. Usually it comes from a Cranky McCrankster-type of character in the Comments beneath posts about the all-electric automobile. Not everyone sees the utility of an expensive car that can seat up to seven, run with Corvettes and only gets 265 miles on a charge. We get that, sort of, and everyone's entitled to their opinion. It's a bit odd, though, hearing the remark fall from the lips of Wang Chuanfu, however. BYD Auto's CEO made the comment – well, he said it in Chinese and it's been translated this way by the International Business Times – in an interview with Shanghai Securiites News, along with mentioning that he expects the California automaker to only capture a very small percentage of the Chinese market. That last bit is a fair point, though a tiny chunk of that burgeoning market could still mean a lot of sales. Tesla has intimated its hopes for at least 10,000 takers in its first year of operation in China and says its Beijing location is its biggest and most bustling. As for Chuanfu's comment, Tesla gave AutoblogGreen a simple, "no comment." BYD, of course, sells its e6 electric sedan in its home country and its sales might not even reach the 10,000 level, despite being more affordable and boasting a respectable 186-mile range. Mr. Chuanfu expects bigger things for it Qin plug-in hybrid, which rings up at $31,000 and offers 41 miles of battery-powered range before the gasoline engine kicks in. China wants 500,000 plug-in vehicles plying its streets by 2015's end and BYD wants to be a big part of that picture. While we can understand the competitive downplaying of Tesla's Chinese-market entrance, we expect that BYD is as well aware as anyone that Tesla has a more affordable future car on the horizon and that Chinese car buyers tend to favor foreign brands. It's a big market, though, so perhaps the two entities might help further each other's goals by cooperating on charging standards and infrastructure development instead of sniping. One can dream, right?

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.

Tesla says Germany concludes Model S fire probe without further action

It was the perfect storm: three Model S fires in six weeks were enough for the National Highway Traffic Safety Administration (NHTSA) to start an investigation into the two US fires in mid-November, but as it turns out, the German government was paying attention too. According to Tesla, Germany's Kraftfahrt-Bundesamt (KBA), or Federal Motor Transport Authority, already has completed an investigation into the two US fires and the one in Mexico, found no manufacturer-related defects and will not take further measures.
According to a statement issued by Tesla, the automaker says it was contacted by the KBA about the post-crash fires, and it "provided the KBA with data and additional information regarding each of these incidents." The KBA subsequently sent a letter in German to Tesla saying the investigation was complete and that no manufacturer-related defects could be found. (Take a look at the letter here.)