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Tesla Model 3: Finding perspective

The reveal of the Tesla Model 3 this week was one of the biggest automotive events of the year. The car attracted 180,000 pre-orders in just 24 hours, gave the company's stock a jolt, and set Tesla on a more ambitious growth path for the rest of the decade. It's a staggering feat considering the Model 3 is one car, from one company that's just 13 years old. It begs the question: Is all of this attention warranted? Barclays analyst Brian Johnson urged investors to "take a deep breath," and be mindful that the Model 3 won't likely arrive in "significant volume" until possibly 2019. Though Tesla promises the car will launch in 2017, Johnson points to the slow rollouts of the Model S sedan and Model X crossover as cautionary notes. The potential extended wait didn't temper the enthusiasm of Tesla's faithful, and many put down deposits before they had even seen the car. Johnson compared the hype to a "Black Friday atmosphere," saying the social media buzz went from "insane mode to ludicrous mode," in a riff on Tesla's driving features. Still, the Barclays analyst was admittedly "curmudgeonly" when it came to Tesla's stock price. In comparison, Morgan Stanley called Tesla's shares undervalued, and expects the Model 3 to be the start of cataclysmic changes in the industry. "We have said for some time that, despite its many worthy accomplishments, Tesla had not yet truly disrupted the auto industry," according to a report led by Adam Jonas. "We are now getting a feeling that this may be starting to change." The Model 3 offers a range of 215 miles on a single charge, can sprint to 60 miles per hour in less than six seconds, and has room for five. It will also be capable of charging on Tesla's supercharging network and features the company's autonomous technology. With a starting price of $35,000 before incentives, it's arguably the most futuristic car that's attainable for a wide swatch of American buyers, though the Chevy Bolt EV is comparable (200-plus-mile range, $37,500 MSRP before incentives) in many ways. The Model 3's attainability is what partially drove the hype. It was like Elon was whispering: Y ou can own the future. The question is now: Can Tesla deliver? If it does, this early fanfare will be richly deserved. News & Analysis News: Top Gear appears to be in turmoil as Chris Evans works four hours a day. Analysis: Is this a soap opera or a car show?

Michigan Gov. Rick Snyder hasn't yet signed anti-Tesla legislation

The nation's auto dealers are taking their fight against Tesla and its direct method of selling cars to consumers to the symbolic heart of the auto industry. In Michigan, a bill that would entrench the existing dealer networks and prohibit direct car sales to buyers has passed both the state's house and senate, and awaits Gov. Rick Snyder's signature. A spokesperson for Snyder says a determination on whether he'll sign the legislation has not yet been made. "Right now, the staff is doing its due diligence and studying the bill," spokesperson Dave Murray said. Snyder has until Tuesday to act on the bill. Fighting this sort of legislation is nothing new for Tesla, which has already lost such legislative fights against auto dealers in Texas, New Jersey, Maryland and other states. "We're fighting these actions as they come up," said James Chen, vice president for regulatory affairs and associate general counsel at Tesla. While Snyder's staff said the governor has not yet made up his mind, executives from Detroit's Big Three automakers and state car dealers are some of the top individual donors to his ongoing campaign to retain the governorship. Campaign records show Martha Ford has given $10,200 to the Snyder campaign, while her brother, William Clay Ford Jr., has donated $3,400. Edsel B. Ford II has also given $3,400 to Snyder, who is in a tight race against Democratic challenger Mark Schauer. Michigan car dealer magnate Paul Alandt has donated $6,800 to the Snyder campaign. His wife, Lynn Ford Alandt, daughter of Benson Ford, has donated $6,200 so far in this election cycle. Other car dealers that have given to Snyder include: Richard Garber Jr., president of Garber Chevrolet in Saginaw, Michigan; Howard Cooper, past owner of Howard Cooper Honda in Ann Arbor; Joseph Sesi, president of Sesi Motors in Ann Arbor; Michael Savoie of Savoie Chevrolet in Troy, Michigan; John Kudner of Art Moehn Chevrolet and David Fisher of The Suburban Collection, which touts itself as Michigan's largest car dealer. All have given between $2,000 and $4,000, according to election records collected by the National Institute on Money in State Politics, a nonpartisan archive of contributions to political campaigns.

Recharge Wrap-up: Tesla Model S full speed, Pheonix EVs at LAX

A Tesla Model S driver shows what it's like to maintain about 125 miles per hour on the German Autobahn. In the video, Bjorn Nyland records his trip from a stop at a Supercharger 25 miles to the Danish border while driving about 200 kph for about 12 minutes. Upon entering the Autobahn, he hits the limiter at about 212 kph, or almost 132 mph. As he's driving, the car's estimated driving range adjusts for his speed, and he quickly loses quite a few miles. He doesn't care, though. He's having fun. See the video above, and read more at Inside EVs. Phoenix Cars has provided an Electric Shuttle Bus to an airport parking company at the Los Angeles International Airport. As LAX's first electric shuttle bus, it is expected to run two shifts seven days a week, saving more than 60 tons of CO2 emissions yearly. The electric shuttle bus will be on display from June 29 to July 2 at the International Parking Institute Conference and Expo in Las Vegas. Phoenix also recently supplied its ZEUS electric flatbed to the US Navy. Read more in the press release below. Ballard will operate a fleet of eight hydrogen-powered buses in London for an additional five years. Transport for London uses the buses, powered by Ballard fuel cell technology, for its central Covent Garden-Tower Gateway route. The first five buses went into service in 2010 as Transport for London aimed to reduce CO2 emissions by 60 percent from 1990 levels by 2025. The three additional buses joined the fleet in 2013. "This contract extension is a positive endorsement of zero-emission fuel cell technology in transit applications, based on the demonstrated performance of these buses over the past five years," says Ballard Chief Commercial Officer Steve Karaffa. "Clean transportation is a growing concern for transit authorities globally and our fuel cell modules deliver a proven solution." Read more from Ballard. Volkswagen and SAIC are expanding electric vehicle operations in China. The partners will expand the main Shanghai Volkswagen plant to build electric vehicles. "Over the next four years, we plan to localize more than 15 different electric vehicle models in China, including plug-in hybrids and fully electric vehicles," says Volkswagen's Prof. Dr. Jochem Heizmann. Volkswagen will also step up fuel cell and plug-in hybrid research in China. In about four years, Volkswagen will build a new EV, based on the popular Lavida, at the Anting plant outside of Shanghai. Read more from Volkswagen.