2013 Tesla Model S on 2040-cars

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Tesla asks feds to investigate Model S fires, amends warranty to cover fire damage

As of the last official count, there are 19,000 Tesla Model S sedans on US roads. Three of those, as has been widely reported, have caught on fire after significant accidents. That means one in about 6,333 Model S sedans has caught fire, and none of those fires led to any injuries. By way of contrast, there were 172,500 gasoline-car fires in the States last year, which, according to the National Fire Protection Association, equals about one in every 1,450 vehicles on US roads.
In a move we'd describe as very baller, Tesla has amended the warranty to cover damage due to a fire, even if due to driver error.
Put more simply, as stated by Elon Musk in his latest posting on the official Tesla Motors blog, "You are more than four and a half times more likely to experience a fire in a gasoline car than a Model S! Considering the odds in the absolute, you are more likely to be struck by lightning in your lifetime than experience even a non-injurious fire in a Tesla." While the assertion of dangerous lightning strikes may be just as spurious a correlation as those who claim the Model S is a burning inferno waiting to happen, the point is clear: You are quite unlikely to experience a fire in a Tesla Model S.

Recharge Wrap-up: No Tesla Gigafactory deal with California, BMW i3 recalled

Before the Nevada announcement was hinted at, a deal to incentivize a Tesla Gigafactory in California fell through. Tesla was looking for around $500 million in incentives, which the California Governor's Office of Business and Economic Development was willing to offer in tax breaks along with making the permit and environmental processes easier. According to Senator Ted Gaines, there still remained "a gap between what Tesla wanted and what California was willing to offer," the contents of which were undisclosed. California could still be chosen for another of Tesla's battery plants, should those ever materialize. Read more at The Desert Sun. The California Air Resources Board (CARB) will consider allowing a bit of compliance flexibility to its Zero Emission Vehicle (ZEV) regulations for some automakers. CARB will hold a hearing to discuss giving intermediate volume manufacturers (IVMs) - carmakers that do between 4,501 and 60,000 new vehicle sales in the state - some leniency catching up to the larger manufacturers when it comes to clean vehicle production. The ZEV regulation changes take into account the amount of revenue IVMs have available for developing the cars, particularly plug-in hybrids. Read more at Green Car Congress or see the notice from CARB here. Certain units of the BMW i3 are subject to an airbag recall. For cars built March 31, 2014, the passenger airbag inflator may have been assembled incorrectly, which could keep it from deploying when needed. Owners will be notified by BMW, and the problem will be fixed for free. The recall also affects certain 2014 Mini Cooper models. Learn more at the NHTSA website. The Renault-Nissan Alliance is providing 200 electric vehicles to telecommunications company Orange in France. The cars, which will include the Nissan Leaf, Nissan e-NV200, Renault ZOE and Renault Kangoo ZE, will be used mostly for carsharing. Through the program, Orange employees can book a car for work or personal travel using a smartphone. The Alliance will also help Orange install charging stations for the new cars. The addition of the EVs to the fleet will help Orange achieve its goal of reducing its carbon footprint by 20 percent by 2020. Read more in the press release, below. Jianghuai Automobile Company (JAC) is delivering its first 100 EVs to the US. The shipment is part of a larger order of 2,000 cars to be sold by GreenTech Automotive in the US market. Read more at ECNS.

Tesla sold 6,892 Model S EVs in Q4, stock jumps in afterhours trading

Quarterly shareholder letters, with accompanying financial results, are an opportunity for companies to crow about their recent progress and instill excitement about future expectations. Tesla Motor's latest such release reveals it's coop is rife with roosters in full song. And for good reason. The California automaker announced today it earned $46 million in 4th quarter of 2013 on a non-GAAP basis – under generally accepted accounting principles (GAAP), which calculates leasing and stock-based employee remuneration differently, it actually lost $16 million – selling 6,892 very lovely Model S electric sedans in the process. Further, it passed its predicted 25 percent gross profit margin on its cars, hitting 25.8 percent on a non-GAAP basis. This means, for the fiscal year of 2013 it sold 22,477 vehicles in total and had over 2.5 billion in (non-GAAP) sales, which includes, of course, supply and development deals with Toyota and Daimler. TSLA has jumped to a record high in the $217 neighborhood. That's pretty durned good, and the stock market would seem to agree. With the financials results dropping just after the NASDAQ's close, the price for TSLA has jump around 12 percent – over $23 as of this writing – to a record high in the $217 neighborhood. Those share price increases aren't just based on past performance, though. The info drop also included plenty of things to indicate the future bodes well. The company expects both sales and production to continue to rise throughout 2014, with a new assembly line expected to help churn out 1,000 cars per week in the 3rd quarter and profit margins projected to hit 28 percent by the end of the year. On the demand side, Tesla's CEO Elon Musk stated during the conference call that he doesn't expect the company to be able to meet the demand that's coming from China. Its new Beijing store is now the company's biggest and busiest and deliveries don't even begin until spring. While European sales are a little slower than anticipated, the exec said he believes it will improve as soon as the company irons out a few technical difficulties that have arisen with charging amongst the different territories there. Apparently, not all power grids operate in exactly the same way. Speaking of reservations for the upcoming Model X SUV, Elon said demand is high. Quote: "If you are going fishing, fish are actually jumping in the boat." That vehicle is only expected to start reaching customers next spring.