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Musk reports positive cash flow for Tesla last week

According to Bloomberg, Tesla actually earned money last week. CEO Elon Musk sent out a message on Twitter saying his company was "narrowly cash positive." That's big news for a company that hasn't turned a quarterly profit as of yet. Tesla is currently in the middle of stepping up production for its Model S sedan, and has announced the vehicle's MSRP will jump by $2,500, presumably to help fund that expansion.
So far, Tesla says it has built will build around 20,000 Model S units at its California production facility next year, though analysts say the ability to repeatedly generate a positive cash flow would go a long way toward the company's evolution into a "sustainable operating entry." So far, the Model S has garnered substantive praise, earning the Motor Trend Car of the Year Award among others. Tesla shares are up 19 percent this year over the same time period in 2011.

New Jersey Becomes Third State To Ban Tesla Sales

State motor vehicle officials have approved a regulation that would require all new car dealers to obtain franchise agreements to receive state licenses, a move critics say will hurt the electric-car industry's attempts to expand. The regulation, adopted Tuesday by the state's Motor Vehicle Commission by a 6-0 vote, effectively prohibits companies from using a direct-sales model, which cuts out the middleman and takes vehicles directly to customers through smaller retail establishments. It will take effect April 1. The regulation was supported by the New Jersey Coalition of Automotive Retailers, which has noted that state law has long required automakers to sell their vehicles through dealers. But Palo Alto, Calif.-based Tesla Motors, one of the electric-car companies that would be affected by it, called it "an affront to the very concept of a free market." Tesla said in a statement posted on its corporate website that it has been "working constructively" with the commission and Republican Gov. Chris Christie's administration since last year to delay the proposal so it could be handled through "a fair process" in the state Legislature. The company said the commission and the Christie administration went "beyond their authority to implement the state's laws at the behest of a special interest group looking to protect its monopoly at the expense of New Jersey consumers." Administration officials disputed Tesla's claims. "Since Tesla first began operating in New Jersey one year ago, it was made clear that the company would need to engage the Legislature on a bill to establish their new direct-sales operations under New Jersey law," spokesman Kevin Roberts said. "This administration does not find it appropriate to unilaterally change the way cars are sold in New Jersey without legislation, and Tesla has been aware of this position since the beginning." Tesla has two retail locations in New Jersey and has planned to expand in the state in an effort to sell its electric cars, which retail for around $60,000 before incentives. Related Gallery Electric Cars And Hybrids Don't Have To Be Frumpy By the Numbers Tesla Car Dealers

Recharge Wrap-up: meet the '66 ZelectricBug, DOE announces home-scale H2 refueling competition

The US Department of Energy has launched the $1 million H2 Refuel H-Prize competition to create small- to medium-scale hydrogen refueling systems. The systems could be home-scale systems that produce hydrogen using utilities at home for refueling, or medium-scale systems to supply locations such as retail centers, apartment complexes or small fleets. The DOE sees hydrogen fueling infrastructure as the biggest obstacle to fuel-cell vehicle adoption and putting the production and refueling in the hands of the consumer could be a way around that obstacle. Read more at Energy.gov and at Green Car Congress. Hyundai has announced a new six-speed automatic transmission with integrated electric motor for new hybrid models. The new configuration puts most of the hybrid powertrain components within the transmission, and the torque converter has been eliminated. The new engine clutch reduces drag with fewer clutch discs, and the mechanical oil pump has been replaced with an electric one. The result is fewer energy losses, improved efficiency and greater mileage. Read more at Hybrid Cars in Reuters or in the press release from Hyundai below. Zelectric Motors has completed its electric 1966 Volkswagen Beetle rebuild, and has put it up for sale. The '66 ZelectricBug, as it's called, is powered by a 50-kW electric motor and 20-kWh battery pack, and offers 120 pound-feet of torque. It has a range of 80 miles, and is capable of at least 100 mph. The stock transmission has been rebuilt. It also has some new goodies like high-performance sway bars, custom shocks, and LED lighting. The '66 ZelectricBug is priced at $45,000. Check it out in the video below and read more at Hybrid Cars. A startup called Alevo says it will build a billion-dollar factory in North Carolina to make longer-lasting lithium iron phosphate batteries. Alevo has purchased an old cigarette factory in Concord for $68.5 million, but it's unclear whether or not the company has secured the $1 billion investment to begin producing batteries. The company plans to create 2,500 to 6,000 jobs and produce several gigawatts worth of batteries per year, which is a tall order for a relatively unknown company. Read more at Gigaom, or in Alevo's press release below. Tesla owners in Shanghai will be exempt from the city's $12,000 registration fee. About 400 people have already received the free license plates in Shanghai, where the government wants to encourage alternative fuel vehicles.