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Tesla stock drops 8.4 percent in premarket trading

Tesla's stock slid in premarket trading Thursday as the electric car maker's fourth-quarter performance was stung by delayed shipments and a stronger dollar. TSLA shares dropped $17.80, or 8.4 percent, to $195 in premarket trading about two hours before the market open. Yesterday, Tesla reported an adjusted loss of 13 cents per share and adjusted revenue of $1.1 billion. This fell short of the forecasts of analysts polled by FactSet, who were looking for a profit of 30 cents per share on revenue of $1.23 billion. Tesla said that during the period there was a delay in shipments of its new all-wheel-drive Model S sedan. The Palo Alto, California, company said it held back shipments of its new all-wheel-drive version of the Model S sedan – which was launched in November – to make sure it would meet customers' expectations. While it was able to make up production later in the quarter, it was unable to ship about 1,400 vehicles in December. Brad Erickson of Pacific Crest Securities said in a client note that "the delivery shortfall does raise execution concerns." But the analyst said that Tesla is growing more than 60 percent this year and may grow 80 percent to 90 percent next year, so he doesn't believe the current valuation represents the company's longer-term opportunity. Erickson kept an "Outperform" rating. The AP contributed to this report.

The billionaire's passion behind Wanxiang's Fisker bid

If it weren't for billionaire Lu Guanqiu, founder of Chinese auto parts giant Wanxiang Group, the Fisker Automotive bankruptcy bailout deal might have closed earlier this month. Hong Kong tycoon Richard Li, along with Li's affiliate company Hybrid Tech Holdings, assumed their offer was going to be accepted. Instead, the US bankruptcy court judge called for an open auction bid for Fisker's assets on February 12. Lu made a few convincing points to the judge. There's another interesting part of the story that Lu didn't share it with the judge. If the Fisker deal doesn't work out, Lu and Wanxiang might increase their working relationship with Tesla Motors. Lu told US bankruptcy judge Kevin Gross that Wanxiang, which now owns Fisker's supplier of lithium batteries, A123 Systems, is better placed than Hybrid Tech Holdings to restart and expand production at Fisker. Better yet, Wanxiang could move production from Finland to the US. That was convincing enough for Gross to schedule the auction. Lu's move toward taking over ownership and restoring Fisker seems to be driven by two motivations: converting his company from a parts maker to an automaker; and to grow the yet-to-be profitable "new energy " business such as lithium battery and electric vehicle makers. For Lu, it's not so much about believing in Fisker – it's more about playing a leading role in electric vehicles – and that could come through deepening its connection to Tesla Motors. "Of course we want to pocket Fisker. But we will bid rationally," he said to Reuters. "Whatever the result, nothing can stop us from making electric cars." Check out more about Lu in this Reuters piece, including how he and six other farmers pooled together $500 in 1969 to start what would become Wanxiang. Featured Gallery Fisker Karma at Laguna Seca News Source: Reuters Government/Legal Green Fisker Tesla Electric wanxiang

Is Tesla Motors becoming a Republican darling?

The general political attitudes taken by the left and right in the US are, sadly, divided on the issue of fuel efficient vehicles. Broadly speaking, Republicans dislike the whole idea (even going to absurd extremes like Newt Gingrich saying that inflating your tires helps Big Oil) while Democrats are in favor. The stereotype even gets in the way of people thinking that the DOE's Advanced Technology Vehicles Manufacturing (ATVM) loan program is an Obama Administration creation. It's not, and was started under President Bush in 2008. The political divide has been particularly strong when it came to Tesla Motors. Most readers probably remember when Republican Presidential contender Mitt Romney attacked the automaker during a debate with President Obama. New Jersey governor Chris Christie has been fighting Tesla's moves in his state as well. But, wait, is there a change in the air? The San Francisco Chronicle's David Baker has written an interesting story that looks at some positive statements from prominent Republicans recently, for example when Bill O'Reilly said everyone should get behind Tesla or when Texas governor Rick Perry said he supports the EV automaker selling directly to customers. Baker has an interesting take on this shift and what it might mean for upcoming elections. We recommend you head over to SFGate to read the whole thing. Here's a teaser: Some Democrats doubt, however, that the GOP as a whole will embrace Tesla and clean tech anytime soon. Wade Randlett, a Silicon Valley executive and major Democratic fundraiser, noted the Republican Party's deep ties to the oil industry - the companies most threatened by electric cars. Read the whole article.