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Bond manager has odd advice for Tesla: stop making cars

Tesla Motors said in the release of its first-quarter earnings Wednesday that it will boost its quarterly production on its Model S luxury sedan to as many as 9,000 from the approximately 7,500 it made during the first three months of the year. Bond manager Jeffrey Gundlach doesn't believe that's a good thing. Gundlach, founder of DoubleLine Capital LP, told Bloomberg News that, while Tesla is a better investment than fast-growth companies like Twitter, the automaker would improve its financial results by halting production of its vehicles and dedicating itself to making battery packs for other automakers. A spokesman for Tesla, whose shares are up almost 40 percent this year, declined to comment to Bloomberg. We'll just sit here and imagine Tesla-powered Nissan Leafs and Chevy Volts. Back in the real world, aside from its own vehicles, Tesla makes battery packs for the Toyota RAV4 EV and for some versions of the Smart Fortwo ED and the B-Class EV. Tesla and Toyota first announced their collaborative effort in 2010, which included Toyota's equity investment in Tesla as Tesla prepared to take over the old NUMMI plant in the San Francisco Bay Area. Tesla said Wednesday that it took a $49.8-million first-quarter loss. Compare that to a year-earlier net income of $11.2 million. That's despite boosting revenue 10 percent from a year earlier to $620.5 million. That's largely because Tesla's selling, general and administrative costs more than doubled from a year earlier to $117.6 million.

Tesla to introduce all-wheel-drive Model S in 2014?

The Model X sport utility vehicle may not be the first all-wheel-drive Tesla to hit the market. According to The Verge, Tesla is working on an AWD version of its Model S sedan. Currently, the Model S is only available with rear-wheel drive, but sources in the know at Tesla reportedly have said that an AWD version could be released as early as 2014, which is the same year the SUV is expected to be launch.
There was no hint in yesterday's conference call or shareholder letter that an AWD Model S is in the mix. Furthermore, the company's attention currently is focused in other places, such as Europe, Japan and China. But, as The Verge points out, CEO Elon Musk made comments in the 2013 annual shareholder meeting on June 4 about an AWD chassis that would be released in 2014 or 2015 - without the context of the Model X. We have to wonder: were the SUV's drivetrain and chassis also developed with other vehicles in mind?
Our own Domenick Yoney from AutoblogGreen adds another peculiar twist to the Tesla story: "When I spoke to Dorian West, Director of Powertrain Hardware Engineering, at Refuel, I was given the strong impression that I shouldn't expect anything [on the AWD front from Tesla] until after the Model X comes out."

Recharge Wrap-up: Tesla battery drain reported; ELF two-seater solar trike

Biofuel company KiOR has filed for bankruptcy. KiOR, which was born out of a partnership between Khosla Ventures and Dutch biofuel startup BIOeCON, has debts numbering $261.31 million, with just $58.27 million in assets. The company produced biocrude from cellulosic biomass, but was unable to meet its production targets at its facility in Columbus, MS, and was also facing quality problems and accused mismanagement. KiOR shuttered its biocrude plant earlier this year, and suffered a huge loss in stock value. Read more at Gigaom. Some Tesla Model S owners are complaining again of "vampire" drain during sleep mode. Since downloading the Firmware 6.0, some drivers have reported a battery draw, even when set to "sleep always." Losses can be up to 12 miles of range from sitting overnight, and the latest versions of 6.0 haven't seemed to have solved the problem. Interestingly, the problem isn't affecting all Model S owners. Also, battery draw problems have been reported in the past, which Tesla took steps to fix in previous firmware updates. Read more at Inside EVs. Daimler's Car2go carsharing service is expected to reach 1 million users by the end of the year. The company currently reports 900,000 users worldwide. Car2go operates in 29 cities in North America and Europe, with plans to expand operations to China. "China might be risky, but it also brings lots of opportunities," says Daimler's Rainer Becker. While Car2go has yet to make a profit as a whole, it is moving in that direction, with Becker saying some cities' operations are already profitable. Read more at Automotive News Europe. The ELF solar- and human-powered trike from Organic Transit is now available as a two-seater. The ELF 2FR, as it is called, is a package that adds a rear seat behind the driver of the pod-shaped EV to allow for eco-friendly transport of two adults. The standard ELF retails for $5,495, and the upgrade to the 2FR adds another $499 to the price, which seems like a small premium for doubling the occupancy. Organic Transit hasn't released all the details on its website for the 2FR yet, but the standard ELF charges via outlet or 100-watt solar panel, goes 20 miles per hour and gets the equivalent of 1,800 miles per gallon (though adding the weight of another adult will certainly change those mileage numbers). Check out the Organic Transit's ELF 2FR in the videos below and read more at Treehugger. VIA Motors has received EPA certification for its range-extended electric van.