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Why Tesla will need more loans to make it through 2013

It's fun to bet against Elon Musk and Tesla - that's the best reason we can find for so many people doing it even though the man, his company and his cars are still here and still very popular. The latest name inscribed in the column labeled "Skeptical of Tesla" is John Shinal at Market Watch who, in year-end commentary on Tesla's financials, says that the "carmaker's financials are reminiscent of a dot-com's." He does not mean that in the good way.
To be fair, Shinal isn't exactly betting against Tesla, he's saying that if you check the bottom lines, the only thing keeping Tesla alive is the hundreds of millions in Federal Department of Energy loans it has received. Based on its filings, he says the company has less than six months of cash on hand, hasn't produced as many cars as it promised and had to lower its revenue forecast for 2012, has had a "year of net losses and negative operating cash flow," and was underwater by at least $37 million at the end of the third quarter.
But Shinal's not done there, summarizing Tesla as an operation with "a poor habit of failing to deliver to customers the cars it has promised them, while simultaneously raising the prices of those yet-undelivered cars," and "a lousy level of customer service." He says there are more damning things to be found in Tesla's SEC registration settlement from September, but we'll have to wait for his next column to find out what those are. The takeaway, in Shinal's opinion, is that even though Tesla will keep getting money from the government, that investors have no business dealing in Tesla stock.

Recharge Wrap-up: Ohio State wins EcoCar 3 Year One, Renault video praises environmental benefits of EVs

A new video from Renault touts the benefits of electric vehicles. The video covers how EVs can help improve the air we breathe and mitigate climate change. It looks into the future at how the air of various metropolitan areas would improve with the adoption of electric cars. It focuses on how EVs help reduce not just CO2 emissions that put the climate in jeopardy, but gases and particulate matter that directly affect the human health. A study in Rome shows that if 10 to 20 percent of the vehicles were electric, particulate pollutants that cause respiratory and heart diseases would decrease by 30 percent, with nitrogen dioxide decreasing 45 percent. "The solution already exists," the video says, "and it is quite accessible for most of us." See the video above, and read more in the press release below. Ohio State University has won Year One of EcoCar 3. Winning the Year One trophy in the competition to create eco-friendly technology and incorporate it into a Chevrolet Camaro, the team defends its title from EcoCar 2 and wins $10,000 in prize money. "This year really lays the foundation vehicle development, which is critical step in the process for future success," says Ohio State University Engineering Manager M.J. Yatsko. "We have already begun vehicle dynamic analysis for next year and are excited to share some of our innovative features we plan to integrate into our vehicle." Teams receive their Camaros this fall, and will use the next years to install, test, and refine their technologies. Read more from the US Department of Energy. Advanced Microgrid Solutions will use up to 500 megawatt-hours of Tesla batteries for grid-based energy storage. It will install the Tesla Powerpack systems for storage in commercial and industrial facilities to help balance the grid load. It offers greater reliability for the grid, and cost saving for customers. "Tesla's focus on performance and design makes them the stand out technology choice for our projects," Says Advanced Microgrid Solutions CEO Susan Kennedy. "AMS' projects require intelligent, powerful and scalable energy storage solutions. Tesla's technology gives us the edge we are looking for." Read more in the press release from AMS. The National Electric Drag Racing Association has announced the Inaugural 2015 NEDRA Points Championship Series. It borrows rules from NHRA and IHRA, and seeks to put vehicle consistency and driver skill at the forefront.

In-demand BMW i8 deliveries start in June, and it's more efficient than we thought

Memo to Elon Musk: objects in the rear-view mirror may be closer than they appear. In this case, it's a couple of plug-in BMWs. And they represent the closest thing to a true competitor for Musk and the Tesla Motors electric vehicles. The German automaker re-confirmed that demand for its upcoming i8 plug-in hybrid will exceed the initial supply batch, though BMW didn't release any specific numbers, Reuters says. BMW will start production next month with deliveries commencing in June for the 362-horsepower i8. The news is consistent with a November estimate from BMW that indicated that the first year of i8s were essentially spoken for in advance. We learned in late January that the number of i3 battery-electric vehicles imported to the US won't meet demand during that vehicle's first year of sales either. Here's the thing: all these people were interested in the i8 when BMW said the car got the equivalent of 94 miles per gallon. Turns out, those calculations were a bit off. Reuters also notes that the new numbers show the i8 gets 112 MPGe. That's on the lenient European cycle, but if anyone was holding out for an i8 with triple-figure fuel economy, your time (to get on the waiting list) has come.Motley Fool proposed late last month that BMW is positioned to be Tesla's only real competition when it comes to high-performance plug-in vehicles. The reasoning was that the BMW plug-ins, like the Teslas, are being built from scratch and don't just have EV powertrains dropped into existing vehicle platforms. Whether or not the competition is truly a two-team race is something we're not sure is completely decided yet, but we know it'll be fun to watch unfold either way. Want proof? Check out Autoblog's enjoyable First Drive of the i8 here.