Bloomberg reports that short selling in green stocks has been increasing and is nearly four times the short selling in the S&P. In November, 17% of shares in the 35 stocks that make up the Wilderhill New Energy Index are sold short, up from 16% last month and 15% in September. That compares with the 4.4% short ratio of the stocks that make up the S&P.
Among the most heavily shorted stocks are Zoltek (ZOLT) … Read the rest
The glam and glitz continues as the Chevy Volt nears its debut on US streets. While the company announced the beginning of production at its plant in Detroit, a few hundred have already been built and will be sold in a few major cities. The car is expected to get 93 MPG when using all electric in that first 35 miles and 37 MPG when running on gas for a combined 60 MPG which could … Read the rest
With the electric car revolution ramping up next year, comes a need for charging stations in convenient locations such as grocery stores. It was recently announced that Walgreen’s (WAG) will be one of the first large retail chains to offer that convenience by adding EV charging stations next year. In a partnership with NRG Energy (NRG), the company will provide 18 fast charge EV stations made by Aerovironment (AVAV) around the Houston area. For a … Read the rest
The 2nd generation electric RAV4 SUV from Toyota (TM) powered by Tesla (TSLA) was unveiled at the LA Auto Show yesterday. Fast Company has a few pics. It’s expected to hit the market along with the all electric Prius in 2012.
It seems like just yesterday that General Motors (GM) was “Government Motors” and relying on you and I to remain afloat. Ah what a difference a couple years can make. As is the case with most of the major auto manufacturers, General Motors (GM) has experienced a resurgence with an expected $2 billion in profits in Q3, culminating in an IPO which priced tonight well above the expected range of $26 – $29 at $33/share. … Read the rest
According to the WSJ, Elon Musk said today he expects Japan to be the 2nd largest market for its luxury electric cars, likely aided by its partnership with both Toyota and Panasonic. Toyota invested $50 million in Tesla and the two companies will jointly develop an all electric SUV while Panasonic recently invested $30 million. Tesla opened its first showroom in Tokyo last month and has six dealerships in Europe.
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General Electric (GE) has announced the largest single purchase of electric vehicles in history this morning – 25,000 to be exact. The vehicles will be purchased beginning next year with an initial purchase of 12K GM made Chevy Volts to achieve its goal of converting about half of its entire fleet to electric. This is a bold and important move from GE and the kind of action that will continue to help drive down the … Read the rest
Tesla Motors (TSLA) reported results after the bell today and is still posting significant losses but their are some positives to report. For one, the company did beat low expectations from analysts posting an EPS loss of .37/share vs the analyst estimate for a .43/share loss on revenues of $31.2 million vs the estimate of $28 million. Gross margins also picked up to 30%. Before we get too carried away with enthusiasm though lets keep … Read the rest
Earlier today I posted about Tesla Motors (TSLA) opening up the doors on their new production facility to produce the all electric Model S sedan beginning in 2012. Greentech reports that Elon Musk also discussed the future of its electric SUV which it’s developing with Toyota. Musk said he hopes to have a prototype by the end of next year and move to production in 2014.
Tesla (TSLA) has unveiled not only the only auto manufacturing plant in California, but the first plant dedicated solely to electric car production at the former NUMMI site which it purchased in May. Called the “Tesla Factory” (catchy eh?), will be used to produce the all electric sedan, the Model S and possibly other electric vehicles.
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“This is a momentous day in Tesla history, … Read the rest