Friday, December 17, 2010

Gas 2.0

Gas 2.0

Details Emerge from Tesla’s SEC Filings about Model S Sedan

Posted: 17 Dec 2010 11:29 AM PST

Tesla's recent filing with the Securities and Exchange Commission shows that the electric car maker already has 3,000 deposits for its Model S sedan, which is being built to accommodate a rapid battery swap system.

Since the end of the 3rd quarter, Tesla has received over 3,000 refundable deposits of $5,000 each on the Model S sedan, which starts at $49,000. It will utilize a battery swap system, which I'm sure Tesla is also designing. This battery swapping-platform will underpin other vehicles, including a cabriolet, crossover, and a van, possibly made for commercial work. The current roadster, which Tesla has sold over 1,400 of to-date, is based on a Lotus body. If Tesla wants to stand on its own as an automaker, they have to develop their own platform.

I see a company that is trying to do just that, and building a car from scratch is no cakewalk. However, Tesla has other dealings going on too. Daimler has ordered 1,500 of Tesla's battery packs for its Smart ForTwo Electric Drive, and they are selling another 500 packs for a Mercedes A-class electric vehicle. In three quarters, they had cumulative sales to Daimler of $12 million. Plus they're helping Toyota design an electric Rav4, and taking over the old NUMMI plant to start churning out electric vehicles en masse.

Maybe I'm just optimistic, but I see a company that could be positioned as a serious force in the electric vehicle market in the coming years, if it can find the cash to survive these trying times.

Source: Green Car Advisor

Chris DeMorro is a writer and gearhead who loves all things automotive, from hybrids to Hemis. You can follow his slow descent into madness at Sublime Burnout.

First Volt Buyer is Chevy Dealer and Race Car Owner Rick Hendrick

Posted: 17 Dec 2010 10:34 AM PST

The mystery buyer behind the $225,000 purchase of the first Chevy Volt has been revealed. It is Rick Hendrick, owner of the Hendrick Automotor Group and Hendrick Motorsports. Who would have thought a race team owner would want a Volt?

Hendrick Motorsports is a force to be reckoned with in the racing world, from drag boats to NASCAR. His car racing teams have a combined 232 race wins.

So why would this avid racing fan want a car that isn't exactly blisteringly fast? "This was an opportunity to own a piece of history while giving back to the community," said Hendrick to GM. "I have been a Chevrolet dealer for more than 30 years, and the Volt is one of the most exciting and important new cars since we opened our first dealership in 1976."

So he is in it for the history, eh? I wonder how the Volt will hold up as a collectible. Could it be the next Corvette? I'm betting GM hopes so. As for the $225,000 Hendrick paid, that money will go towards funding Science, Technology, Engineering, and Math initiatives in the Detroit Public School Foundation. The announcement was made at the Detroit International Academy for Young Women, and the money will go towards projects like sending kids to NASA’s Space Camp and sending 4,500 students to science fairs. Good stuff GM.

Source: GM

Chris DeMorro is a writer and gearhead who loves all things automotive, from hybrids to Hemis. You can follow his slow descent into madness at Sublime Burnout.
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