Morgan Stanley issued an extremely bullish report on Tesla (TSLA) this morning which sent shorts scrambling for cover and the stock soaring out of consolidation, up nearly 20% as I write this. The firm upgraded TSLA to Overweight and set a base price target of $70 which is nearly triple what the stock was trading at before the report was issued.
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Here are some highlights of … Read the rest
Kandi Technologies (KNDI) announced yesterday that it received a purchase order for 1000 pure electric vehicles for the Italian market from Share Corp. The vehicles will be used in Rome initially to help curb pollution in the city. The two companies will work together to bring electric cars to other major European cities.
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"We believe that, in the future, Kandi EVs will appear throughout Europe," … Read the rest
I just posted about Tesla beating analyst estimates in its latest earnings report, but part of the reason why the stock is up today is due to 2011 revenue guidance above analyst estimates. Tesla believes revenues for 2011 can rise around 50% and reach the $160 – $175 million level. Analysts estimated $152 million in revenues for this year. The increase in revenue is expected to come from battery pack sales to Daimler for its … Read the rest
Tesla Motors (TSLA) is seeing a rare up day today despite posting another big quarterly loss as the company narrowly beat analyst estimates. After a significant correction in recent months, traders are looking for any sign of a positive and they got a small one today.
Tesla reported an EPS loss of .47/share on revenues of $36 million which was a bit above the analyst estimates of an EPS loss of .50/share on revenues of … Read the rest
Quantum Fuel Systems Technologies (QTWW) announced today that the U.S. Army displayed and provided over 700 test-drives of Quantum Technology’s Clandestine Extended Range Vehicle ("CERV") at the Army’s All American Bowl in San Antonio, Texas. The “CERV”, using Quantum’s Q-Force hybrid drive system, is an electric hybrid vehicle designed for recon, rescue and targeting missions and is able to climb 60% grades and ford nearly 3ft of water all while using up to 25% less … Read the rest
It was a good day for US based electric car stocks today, particularly Tesla Motors (TSLA) which surged nearly 7% on news that Michigan Senator Debbie Stabenow wants to replace the $7500 tax credit for electric vehicles with an instant $7500 rebate.
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With the cost of electric cars out of the reach of most Americans, particularly in tough economic times, a bill like this would help … Read the rest
Shares of UQM Technologies (UQM) soared today on news they will supply PowerPhase electric propulsion systems for the Audi A1 e-tron all electric vehicle test-fleet.
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“This fleet order from Audi further validates the ability of our products to meet the demanding requirements of major automotive customers,” said Eric R. Ridenour, President and CEO of UQM Technologies. “We are extremely well-positioned and prepared for growth as … Read the rest
UQM Technologies (UQM) is still a ways off from profitability, but continues to inch closer to the important achievement and may be able to get there next year. The company announced in January that it now has full production capabilities and the CEO reiterated its aggressive plans for growth and profitability when it reported earnings last night.
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"We are aggressively taking actions necessary to prepare … Read the rest
J.P. Morgan reiterated its Overweight rating on Tesla Motors (TSLA) yesterday giving the shares a bit of a boost. They have a one year price target of $30 (about 30% upside) and a three year target in the $40 – $50 range. They believe the majority of the investment community is underestimating the potential of the company with its power-train (used by Daimler and Toyota) and non power-train technologies.
Shares of Ener1 (HEV) are soaring today after they announced a joint venture with China’s leading auto parts supplier to co-manufacture lithium cells and battery packs for the Chinese market. The joint venture with Wanxiang Electric called Zhejiang Wanxiang Ener1 Power System Co in which Wanxiang will have a 60% majority stake aims to produce 40,000 battery packs a year for electric cars by 2014.
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“We … Read the rest