2019 Tesla Model 3 Long Range on 2040-cars

Auto blog

Tesla says Chris Christie's move is 'affront to the very concept of a free market'

Tesla has a special history with the state of New Jersey, having delivered the 500th Roadster there in 2009. Fast forward to 2014, though, and the electric vehicle company is having a decidedly less-positive experience in the Garden State. In short, Tesla's ongoing dealer fight has turned sour, and thing are potentially going from bad to worse today. Tesla says it has been working "constructively" with the New Jersey Motor Vehicle Commission (NJMVC) and Governor Chris Christie's administration "to defend against the New Jersey Coalition of Automotive Retailers' (NJ CAR) attacks on Tesla's business model and the rights of New Jersey consumers." In other words, the right for Tesla to open its own stores and not use the traditional dealer model. The legislative process on the fate of Proposal PRN 2013-138 (PDF) has been continuing and Tesla says it thought everyone was acting in good faith, but now it's not so sure. In a new official blog post, Tesla says: Unfortunately, Monday we received news that Governor Christie's administration has gone back on its word to delay a proposed anti-Tesla regulation so that the matter could be handled through a fair process in the Legislature. The Administration has decided to go outside the legislative process by expediting a rule proposal that would completely change the law in New Jersey. This new rule, if adopted, would curtail Tesla's sales operations and jeopardize our existing retail licenses in the state. ... This is an affront to the very concept of a free market. A meeting on the proposal is scheduled to take place this afternoon, and Tesla is not happy about it. In Ohio last year, Tesla asked for immediate help to stop a similar bill, which ended up working. For a while. Last year, New Jersey started considering an EV-only tax that would cost EV drivers about $100 a year, but that appears to have been scrapped.

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

Drive eO Tesla Roadster is going to race up Pikes Peak [w/video]

Last year, Drive eO sent its PP01 electric supercar up Pikes Peak in the Pikes Peak International Hill Climb - well, part-way up. Driver Janis Horeliks wasn't injured in the crash that ended his run near the Halfway Picnic Grounds. This year, the Latvian team will return to Colorado race again with a Tesla Roadster chassis in the Electric Modified division on Sunday, June 29. The PP02 is not quite as rowdy as the PP01, with a twin motor system putting about 482 horsepower and 590 pound-feet of torque to the rear wheels compared to last year's car all-wheel-drive setup making about 536 hp. The PP02's liquid-cooled electric motor will get its electrons from a 40-kWh battery pack. The total weight of the car is about 2,337 pounds. Drive eO's return to Pikes Peak isn't just about getting back in the saddle and winning a single race. The group is using the experience to test new components that it intends to eventually put into later electric supercars. These, according to the press release, are "already on the drawing board." As interesting as it will be to see the PP02 Tesla Roadster 360 attempt to tackle the famous hill again, it should be equally interesting to see what Drive eO is up to next. See what happened in last year's race in the video below (it's not in English), or read on for the official press release from Drive eO. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Drive eO Returns to Pikes Peak with Bespoke Tesla Roadster Riga, Latvia - Electric motorsport specialists Drive eO are returning to the Pikes Peak International Hill Climb on June 29 to test and develop their latest electric drive train system. The team has packaged it into a Tesla Roadster chassis, making the competitive debut in motorsport for Tesla. Drive eO has dubbed the project PP02 as it builds upon the team's initial attempt at the iconic hill climb competition in 2013 with a prototype supercar eO PP01. The new car features a more modest specification with rear axle powered by 360 kW (peak) twin-motor system and a 40 kWh lithium-ion battery pack. The team is aiming to validate the new components ahead of scaling them up for successive electric supercar projects which are already on the drawing board. The 2014 edition of the Pikes Peak International Hill Climb will see 72 drivers attempting the treacherous 20 km course to the summit at 4300 m.