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Tesla Model S wins Automobile car of the year [w/video]

Automobile Magazine recently spent the better part of three days getting to know 28 of the latest and greatest cars on the market to pick its Automobile of the Year, and today it announced that the 2012 Tesla Model S was given this coveted award. As much as the all-electric Model S means to the automotive world, we'd be surprised if it doesn't snag a lot more hardware in the next few months.
The Model S beat out cars like the 2013 Cadillac ATS, 2013 Ford Fusion, 2012 Porsche 911 Carrera S and 2013 BMW M5 with its sleek design, luxurious and tech-filled interior and, of course, its unique electric powertrain that offers both an incredible all-electric range and equally eye-popping performance.
To narrow down the top candidates for the award, Automobile took all the cars out for two days of road testing and then spent another day at Gingerman Raceway in Western Michigan, and the performance aspect of the Model S seemed to surprise and/or impress a lot of the magazine's staff more than anything else. To prove how fast the car is, they did a drag race to 100 miles per hour with the Tesla and the new M5, and the Model S won. The 265-mile driving range and 17-inch touch-screen display won points for the car, too.

Tesla could need another $6 billion to really change the auto landscape

Telsa Motors has some big plans. The electric car company is building its $5-billion Gigafactory near Reno, NV to guarantee a steady supply of lower-cost batteries, has plans to release two new models and is even talking about providing home energy storage on a large scale. The California automaker is ramping up EV production, and hopes to eventually be producing 500,000 cars per year. To do all this, Tesla is going to need a lot of cash, particularly if any of its cars becomes the "next big thing," so to speak. This is money Tesla would need in addition to the revenues it already pulls in. Patrick Archambault, an analyst at Goldman Sachs, said last week that Tesla could need at least $6 billion through 2025 to complete all of the plans listed above and any others, should Tesla become the automotive Apple. An increase in popularity that would see the company hit its production targets would create a need for capital to match that growth. Keep in mind, this is money it would need in addition to the revenues it already pulls in. Tesla has already secured a portion of the funds for its Gigafactory, but still needs to make up the rest. Some will come from its partner Panasonic and Tesla is receiving some serious tax incentives from the state of Nevada (to the tune of $1.2 billion). Archmabault predicts that most of the funds would be needed beginning in 2017, suggesting that Tesla has the financial means to reach its target of 100,000 vehicles by the end of next year. It's not until the Model III comes into play that Tesla might come to need the hefty sums suggested by the analyst. Whether Tesla will become more of a disruptive brand in the automotive world is still anybody's guess. Still, Archambault's suggestion of that possible $6 billion figure was enough to have an effect on Tesla's stock price, which fell after the estimate was released last week, and remains down as of this writing after a note from JP Morgan. Featured Gallery Tesla Model S View 24 Photos Related Gallery Tesla Model X View 15 Photos News Source: Bloomberg via Green Car ReportsImage Credit: Copyright 2014 Drew Phillips / AOL Green Plants/Manufacturing Tesla Electric gigafactory

Man steals, crashes, catches on fire and breaks in half Tesla Model S

Multiple injuries were reported in a dangerous high-speed crash involving a Tesla Model S this holiday weekend in Los Angeles. The EV was apparently stolen from a local Tesla store and was driven at triple-digit speeds through LA a little before 1 am, a sergeant Campbell from the Los Angeles Police Department's Pacific Division told KTLA 5. "They tried to help but there was too much smoke." – Eyewitness Following a call from employees at the store, police chased the apparent thief through LA until he crashed into two cars and a lamp post. The Model S split in half, with the back end getting wedged into a nearby synagogue while the front half caught on fire. An eyewitness told NBC Los Angeles that, "Everybody who was looking was screaming. They tried to help but there was too much smoke." What, exactly, caused the fire is unknown, but let's just rehash the old chestnut that Tesla EVs are not inherently fire traps and that driving at over 100 miles per hour is a dangerous endeavor in any vehicle. It was originally reported that the thief died, but he, along with people from the cars he hit, were taken to the hospital for treatment and he is reportedly still alive. More to come, most assuredly, and for now you can watch three local TV news video reports below.