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Why Tesla will need more loans to make it through 2013

It's fun to bet against Elon Musk and Tesla - that's the best reason we can find for so many people doing it even though the man, his company and his cars are still here and still very popular. The latest name inscribed in the column labeled "Skeptical of Tesla" is John Shinal at Market Watch who, in year-end commentary on Tesla's financials, says that the "carmaker's financials are reminiscent of a dot-com's." He does not mean that in the good way.
To be fair, Shinal isn't exactly betting against Tesla, he's saying that if you check the bottom lines, the only thing keeping Tesla alive is the hundreds of millions in Federal Department of Energy loans it has received. Based on its filings, he says the company has less than six months of cash on hand, hasn't produced as many cars as it promised and had to lower its revenue forecast for 2012, has had a "year of net losses and negative operating cash flow," and was underwater by at least $37 million at the end of the third quarter.
But Shinal's not done there, summarizing Tesla as an operation with "a poor habit of failing to deliver to customers the cars it has promised them, while simultaneously raising the prices of those yet-undelivered cars," and "a lousy level of customer service." He says there are more damning things to be found in Tesla's SEC registration settlement from September, but we'll have to wait for his next column to find out what those are. The takeaway, in Shinal's opinion, is that even though Tesla will keep getting money from the government, that investors have no business dealing in Tesla stock.

Recharge Wrap-up: Tesla's largest private Supercharger order, Sec. Foxx talks safety in innovation

Tesla will deliver its largest order yet for a private Supercharger station. The all-Tesla Teo Taxi fleet servicing the Montreal-Trudeau Airport will have 12 charging stalls in its private station. The two-stall Superchargers Tesla sells for private use are capped at 60 kW, unlike the 120-kW chargers Tesla operates for public use. Tesla doesn't disclose the price of its private Superchargers, but rumors suggest a two-stall charger costs around $60,000, but can come free with a large order of vehicles. Read more at Electrek. French zero-emission delivery service Cetup set a new range record for the Renault Kangoo ZE-H2 EV equipped with a fuel cell range extender. The drivers logged 228 miles over 10 hours and 36 minutes, with a fully charged 22-kWh battery pack and four pounds of hydrogen in the tank. This took place at night in and around the city with lights and heat turned on, averaging 22 mph. "Reaching such impressive performance with a first generation vehicle delivered in January 2015 is remarkable," says Fabio Ferrari, founder and General Manager of Symbio FCell (the company that provides the car's fuel cell). "The new versions of our Kangoo ZE-H2, currently in production, reduce the hydrogen consumption even more. Beyond, a new 700 bar option will get us close to the 500 km range mark." Read more at Green Car Congress. EVgo has taken on JMPR as its public relations agency. As the EV charging service continues to grow, JMPR will help bring awareness to EVgo through various campaigns targeted at consumers, potential partners, and policy makers. "Electric vehicle charging is critical to EV adoption and is set to explode over the coming years," says EVgo VP of Product Strategy and Market Development Terry O'Day. "EVgo is positioned to further build out our industry-leading fast charging network. We are excited to work with JMPR and tell the story of how EVgo is at the forefront of powering the electric vehicle revolution." Read more in the press release from JMPR. US Transportation Secretary Anthony Foxx spoke about electric, automated, and connected vehicles during a visit to the International Transportation Innovation Center (ITIC) in Greenville, South Carolina. Foxx highlighted the importance of safety, and discussed roadside sensor systems, camera-based vehicle side collision avoidance, and cybersecure wireless charging infrastructure.

Recharge Wrap-up: Fisker EMotion rear end, Faraday Future drag race teaser

Fisker has unveiled the rear end of its EMotion EV. This latest image in a series of slow reveals shows us the strip of lighting across the back, the lines of the trunk opening, and a good look at the rear diffuser. The car appears significantly wider at the fenders than at the roofline, which gives it a planted and muscular look. It's a shape that fits the car's stated performance; Fisker says the EMotion will have a top speed of 161 miles per hour. And, of course, there are no tailpipes. Read more from TechCrunch. Check out the off-road prowess of the Tesla Model X in an icy ditch. Thanks to a sophisticated traction control and torque distribution system, the electric SUV is able to keep its composure even when a wheel leaves the ground over the uneven terrain. Of course, the grippy winter tires help too. The video could also help ease concerns about the vehicles torsional rigidity, though there was a slight creak when opening one of the falcon wing doors while the Model X was suspended over the ditch. See the video and read more at Teslarati. Faraday Future is teasing a video of drag races against the Tesla Model X, Bentley Bentayga, and Ferrari 488 GTB. It shows the camouflaged FF prototype lining up next to the competitors individually, and taking off down the drag strip before cutting the video short. The video then instructs viewers to "stay connected" for the results. Presumably, the prototype will perform impressively. Outrunning a Model X P100D with Ludicrous mode means doing 0-60 in less than 2.9 seconds. Faraday Future is slated to unveil its production electric vehicle at CES 2017 in early January. Check out the video and read more at Teslarati.