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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.

Recharge Wrap-up: Tesla Launches In Australia, Model S makes for a popular limo

A Chicago limousine company that uses the Tesla Model S in its fleet is finding demand overwhelming. E-Motion Chauffeurs and Hires introduced six Model S EVs to its lineup in October, which resulted in the company's website server crashing due to high demand. "We are completely booked and I've been looking for other Tesla owners to try to cover some of our overflows," says E-Motion owner Abdullah Illahi. E-Motion has ordered another six of the all-wheel-drive P85D model, set to arrive in January. Illahi says that he chose the Model S in order to gain a competitive edge, as it is a car customers would find interesting. It also has the benefit of lower operating costs than traditionally fueled vehicles. Read more at Hybrid Cars. The province of Quebec is offering EV incentives, as well as penalties based on engine size. Quebec is offering an $8,000 (about $6,997 US) rebate for EV purchases, plus up to $1,000 ($874) toward the installation of a home charger. The government is also imposing additional registration fees for traditional vehicles based on the size of their engines beginning in 2016 (on top of the ones already in place). This will mean that cars with engines displacing 4.0 to 4.9 liters will be charged an extra $50, 5.0 to 5.9 liters an extra $100, and cars with engines larger than 6.0 liters will cost an added $200 to register. Read more at Montreal Gazette or at Green Car Reports. Battery company Seeo has closed a successful round of investment funding. Samsung Ventures, Khosla Ventures and GSR Ventures all invested in Seeo, making this funding round it largest yet. Seeo will use the money it secured to commercialize its DryLyte lithium polymer batteries. The solid polymer electrolyte in these batteries is especially energy-dense, and or not flammable or volatile. Seeo also claims they are lighter and longer lasting than other lithium batteries. Read more in the press release below. Tesla has officially launched in Australia. The company delivered the first nine units of its Model S EV to customers on Tuesday, December 9, with more to come on Wednesday and beyond. Tesla powered up its first Superchargers at the Star and Darling Hotel at Pyrmont and at the North Sydney Retail and Service Center. Wednesday, Telsa will open its first store and service center in St Leonards, Sydney. By the end of 2015, Tesla will have stores in Sydney and Melbourne, and a Supercharger network connecting Canberra, Melbourne and Sydney.

Recharge Wrap-up: Road-tripping in a Tesla Model S, Big Oil's tax advantage

Zap is poising itself to take advantage of China's extension of its electric vehicle incentive program. The government will be offering rebates on EVs, forgiving sales taxes and licensing fees, installing EV charging infrastructure and other measures to encourage adoption of zero-emission vehicles beyond 2015, through the year 2020. In response, electric vehicle company Zap and its partner Jonway Autos are decreasing production of gasoline-powered vehicles to make more EVs. It plans to increase production of its two EV production lines from 50 to 100 vehicles per day each, as well as positioning certain models for larger-scale production. Zap hopes customers will make use of rebates of up to $20,000 from the central government, plus local EV incentives. In October, Zap and Jonway will unveil new SUV and minivans that they intend to offer as less-than-gasoline- and zero-ownership-cost and vehicles under the umbrella of China's incentives. Read more in the press release below. Tesla Model S owner David Zygmont shares tips for taking cross-country road trips in an electric vehicle in a two-part podcast. David talks about his two-week road trip in his Tesla, and how he managed to make the most of charging his vehicle. One of his tools is the site EV Trip Planner. He also shares advice on overnight charging while staying at hotels. If you're thinking of going on an adventure in your EV, you should check this out to gain some valuable insights into the experience. Listen to part one of the podcast at EV Parade, and part two at Teslarati. Oil companies paid federal income taxes of just 11.7 percent over the last five years, according to a new report from Taxpayers for Common Sense. Oil companies reported a pre-tax income of $133.3 billion, and paid just $15.6 billion in federal income taxes. Some of the smaller oil companies paid much less than average, or about 3.7 percent. Oil companies enjoy many tax provisions that aren't available to other taxpayers, and the companies are able to defer taxes year after year, without paying any interest on it. Read more in the press release from Americans United for Change below.