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Recharge Wrap-up: Chevy Volt class action suit proposed, Tesla stock could outperform in 2015

A class action suit has been proposed against General Motors for a steering problem in the Chevrolet Volt. The plaintiffs claim that a defect can cause the steering to freeze intermittently, and that General Motors either knows or should have known about the problem. The case, filed in New Jersey, also claims that defective parts are replaced with the same or similar parts, which are also defective. The plaintiffs say that claims for the 100-plus-member class exceed $5 million. Read more at Law360 or at BigClassAction. Tesla Motors stock (TSLA) has risen after weeks of losses. It gained 5.4 percent during the week ending December 19, when it closed at $219.29 per share. Since then, it rose slightly more, closing at $222.26 on December 24. Morgan Stanley lowered its target price on Tesla stock from $320 to $290, predicting lower sales on the upcoming Model III than expected before, but still called Tesla a good long-term investment. Analysts at CNBC predicted Tesla to be the best performing stock of 2015. Read more at ETF Daily News. Oslo- and New York-based architecture firm Snohetta has designed a zero-emissions house that also charges an electric car. The ZEB Pilot House, built in Larvik, Norway, uses a solar panel on the roof to power the house, which also provides enough excess energy to charge an EV. To make the most of energy most efficiently, the house uses smart technology to use as much energy as it can once it's harvested. This means one can turn on appliances like the washing machine remotely while the sun is at the optimum angle in the sky - perhaps during mid-day when the residents are at work. The house also uses organic materials and is designed to save as much energy as possible. Read more at Wired.

Tesla's Elon Musk made $1.1 billion yesterday, how about you?

Thanks to skyrocketing share prices, yesterday was a very big payday for Tesla founder Elon Musk. The already wealthy businessman added another $1.1 billion, ten percent of his net worth, to his overflowing wallet yesterday after Tesla's shares hit $248. This time last year, TSLA was trading at roughly $34 per share.
Tesla's latest jump in a year that has already seen share prices climb 65 percent is thanks to positive reports from Consumer Reports on the company's Model S electric sedan, and some kind words from Morgan Stanley about the brand's plans for a battery factory.
Despite all the good news for Tesla yesterday, not all of the $1.1 billion Musk earned came from his automotive pursuits. SolarCity, which Musk is also the largest shareholder in, saw its share prices jump 3.1 percent, as part of a 43-percent jump in 2014.

Tesla sending free replacement wall charger adapters after garage fire [UPDATE]

Tesla Motors is about to mail off a lot of packages. The California-based electric vehicle manufacturer is going to send out replacement, upgraded wall charger adapters to customers with official Tesla charging units. The reason is a recent garage fire that involved a Tesla Model S and a company wall charger, even though fire investigators said that the car was not responsible and Tesla said the wall unit did not play a role in the blaze. Tesla CEO Elon Musk said in an interview with Bloomberg today that replacement adapters will be mailed out in the next two weeks. Musk said fires and overheating adapters are "very rare events, but occasionally the wiring isn't done right. We want people to have absolute comfort, so we're going to be providing them with an upgraded adapter." The new adapter has a thermal fuse that will shut off if it gets too hot. Musk did not say why the original wall charger adapter apparently did not have a thermal fuse in the design. AutoblogGreen has asked Tesla how many adapters will be sent out and if this is a global or US-only replacement program, but as of press time, we have not received a response. We're also not sure if this will trigger a recall - the adapter is not, technically, part of the car - and hope Tesla can clarify this point soon. Tesla's first reaction to that garage fire in November was to update its charger software to automatically reduce the charge current under certain circumstances. To date, that incident in Irvine, CA is the only garage fire involving a Tesla wall charger that has been made public, but there are multiple reports of Tesla wall chargers heating up and melting, (see here, here or here), so it appears Tesla is trying to be safe rather than sorry. UPDATE: Tesla has issued a press release on this program, which is now available below. TESLA PROVIDES CUSTOMERS WITH UPGRADED CHARGING SOFTWARE AND ADAPTER FRIDAY, JANUARY 10, 2014 PALO ALTO, Calif. – A variety of factors such as corrosion, physical damage to receptacles, or inappropriate wiring or installation of electrical outlets can cause higher than normal electrical resistance when using the Universal Mobile Connector ("UMC") NEMA 14-50 adapters to charge Tesla Model S vehicles. When charging, higher than normal electrical resistance connections to external energy sources may cause excessive heating of the adapter.