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Wall Street still irrationally exuberant over Tesla shares

In a world where electric cars are far from the norm, it seems odd to us laypeople that you can't buy a share of Tesla stock (ticker symbol TSLA) for less than $230. But a research note issued Monday from Goldman Sach's respected team of auto industry analysts (seen in PDF form in our gallery) has added fuel to the irrational exuberance fire, guaranteeing that Tesla's stocks should hover at these seemingly unreasonable prices for some time.
Goldman Sachs analyst Patrick Archambault compared Tesla CEO Elon Musk to Apple's Steve Jobs, saying the Model S is a lot like the iPhone. The major difference is that it will take a lot longer for Tesla's electric cars to make a sizable dent in the auto industry, Archambault said, than it took for the iPhone to take over the smart phone world. If Tesla rolls out a non-luxury car in the next few years as is rumored, Archambault predicts the company could be selling 500,000 electric cars a year by 2022 or 2023. Based on those projections, the Goldman Sachs analysts says a fair price for Tesla's stock right now is about $200 a share.
Which, in the upside-down world of Wall Street, means the current share price of around $238 is nearly $40 overvalued. But that hasn't stopped traders from pushing up the price of Tesla's stock today between $3 and $4 a share. Over at Oilprice.com (subscription), contributor Martin Tiller on Friday was already sounding the alarm bells, saying Tesla share's are overpriced, despite the promising technology.

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.

Recharge Wrap-up: Renault Zoe driving video, BYD Buses in Campinas

A new video shows drivers how to get the most range out of the Renault Zoe. By managing one's driving style, as we all know, one can minimize energy consumption. The Zoe's Econometer and R-Link screen give feedback about the rate of consumption, which helps let the driver know that they should hold back in the throttle. The R-Link system shows the distribution of energy in real time. It also analyzes the driving route and gives feedback at the end of the session. The Zoe also has an Eco button that automatically limits consumption regardless of driving style. Pre-programming climate control can also help improve range. These are all features we're more or less familiar with, but see how they work in the Renault Zoe in the video above. Tesla has announced it will release its second quarter results on August 5. After the automaker releases its financial information on that day, it will hold a live question and answer conference call webcast to discuss those results and outlook at 5:30 Eastern. The second quarter ended June 30. Read more at MarketWatch. Campinas, Brazil will add 10 BYD electric buses to its fleet. It is the first city in Brazil to have a zero-emissions bus fleet. Campinas will be using BYD's 39-foot, four-door K9 battery electric bus, but the K11 articulated electric bus will also begin testing in the city soon. Campinas Mayor Jonas Donizete likes the electric buses because "they are very comfortable, almost noise-free, and great for the environment," and they will help reduce the city's air and noise pollution. BYD plans to open factories for electric buses and solar panels in Campinas over the next year, investing about $108.5 million from 2014 to 2017. Read more in the press release below. BYD to Deliver 10 Electric Buses to Campinas Public Transport Fleet 07/22/2015 (Campinas, Brazil): BYD do Brasil and Campinas City Administration announced this month, the addition of 10 battery-electric buses to the city's public transportation bus fleet. Campinas is a city in the interior of the state of Sao Paulo, Brazil, and will be the first in the country to have a fleet of fully electric, zero emission buses operating in its streets. The model chosen to integrate the fleet in Campinas is the BYD K9, a 12-meter, 4-door, low-floor urban bus, with universal accessibility for passengers with limited mobility.