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Toyota's Lentz says fuel cells are the future, not EVs

Toyota is not bullish on EVs. That comes from the company's North American CEO, Jim Lentz, who said the company will focus not on electrification, but on continued hybridization with a long-term focus on hydrogen fuel cells.
Lentz questioned the long-range ability of EVs, saying that Toyota feels "there are better alternatives, such as hybrids and plug-in hybrids, and tomorrow with fuel cells." Lentz spoke about Toyota's focus on hydrogen following Forbes Brainstorm Green conference and barely a week after a battery deal between Tesla and Toyota ended, according to Automotive News.
That deal provided for 2,500 battery packs for the Rav4 EV. While valuable to Toyota, the deal "was never about open-ended volume," Lentz said. "It was time to either continue or stop. My personal feeling was that I would rather invest my dollars in fuel cell development than in another 2,500 EVs."

Tesla, European automaker may share Supercharger network [w/video]

Tesla Model S owners have had the now-500-plus Supercharger locations all to themselves since the free, high-speed charging network first opened up three years ago. The day may be coming when they'll have to start sharing, however. According to CEO Elon Musk, the company is "in talks with some manufacturers" about opening up its infrastructure to other autos. The mission statement of Tesla Motors is to "accelerate the advent of sustainable transport," and it can be argued that the success of its Model S is doing this, at least to some extent, by inspiring other automakers to build long-range electric vehicles themselves. Witness the Porsche Mission E concept and Audi E-Tron Quattro Concept as two recently unveiled examples. Sharing the Supercharger system is another way to speed things up. When EV owners of other marques want to take a trip, they may find themselves facing a hodge-podge of charging networks, each with slightly different standards, availability, and fees. Supercharging for free at well-mapped and easily accessible locations can only make things easier, and Musk has long said he would like other companies to make use of the network. With some manufacturers declaring allegiance to the CHAdeMO and others, the SAE Combo system, it seemed like Tesla might not get any takers, but finally it may be getting traction. Musk mentioned the development on at least two different occasions recently at speaking engagements in Berlin: once in a morning discussion, and later during a larger meeting with the German Minister of Economy & Energy, Sigmar Gabriel. While in the first instance, Musk used the plural "manufacturers," indicating there may be discussions with more than one firm, the second mention might be more relevant to the near term. In that case, while answering a question about sharing the Superchargers, he stated that "the CEO of one European car company, not a German car company, has approached us recently about doing exactly that, and we're super supportive of anyone who wants to do that." The question now becomes, "who will be the first to use the Tesla high-speed network?" With the specific mention of a European company, and the exclusion of German ones, our best guess is Aston Martin. Its CEO Andy Palmer is quite bullish on electric vehicles and the iconic British brand already has a test mule for an 800-hp electric Rapide on the road, not to mention its fabulous DBX under development.

Tesla's Musk Paid $70,000 Salary In 2013

Tesla Motors CEO Elon Musk was paid just under $70,000 in 2013. But he could be in line for much, much more. According to a Tesla filing with regulators Thursday, Musk made a base salary of $33,280 in 2013. That was the minimum he was required to make under California law. He got an additional $36,709 in company bonuses. Tesla says Musk, the billionaire founder of PayPal and rocket-building company SpaceEx, only accepts $1 and returns the rest to the company. Musk could someday rake in much more from the company he helped found in 2003. Under a compensation package approved in 2012, Musk was awarded options to buy nearly 5.3 million shares of Tesla stock at $31.17 each. The stock closed Thursday at $207.86, making those shares worth about $900 million. The plan is supposed to compensate Musk over a 10-year period, but only if the company meets performance goals. Musk can't exercise all the shares, for example, unless Tesla's shares reach a total value of $43.2 billion. The company's shares are currently worth $25.6 billion. Musk would also have to meet milestones for production of Tesla's planned Model X electric SUV and its Generation Three vehicle, which will cost around $35,000. Right now, Tesla only makes the Model S sedan, which starts at $70,000. Tesla said in its filing that some incremental stock value goals have been achieved, but the operational milestones, while probable, have not been reached, so none of Musk's shares have vested. Related Gallery Tesla Model S Wins Coveted 'Car Of The Year' Awards