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Tesla gets legal go-ahead to sell EVs in Pennsylvania

Tesla Motors has been fighting to sell cars in many states, but has come up against laws prohibiting the electric automaker to exercise its direct-to-consumer business model. Such has been the case in Pennsylvania. Recently, though, Tesla worked out a deal with the Pennsylvania senate to approve a bill allowing five Tesla stores in the state, with the blessing of the Alliance of Automobile Manufacturers. The bill, though crafted with Tesla in mind, doesn't specifically name the California-based company. That bill made it to the desk of Governor Tom Corbett last month, who signed it into law, opening the door for Tesla to sell more cars in the state. The legislation exempts electric vehicles from a law that bars manufacturers from opening their own dealerships. Nathan Spade, senior aide to the bill's sponsor Senator John Rafferty, called the bill "a means to provide the consumer with another option" and "a positive addition to the marketplace in Pennsylvania." Two members of the state House voted against the bill: Representatives Mark Gillen and Daryl Metcalfe, both Republicans. Gillen explains that he felt the bill gave Tesla special treatment, which goes against his free-market values. In addition to allowing Tesla to open new stores in the state, the new law also officially legitimizes the automaker's current store in the King of Prussia Mall, about which there have questions concerning legality. It isn't clear if the Board of Motor Vehicle Manufacturers approved that store in 2013 made a mistake, but that point appears to be moot now. Tesla also currently has plans to open a store in Devon, PA. Tesla still has some pretty big barriers to contend with in other states, though. In Texas, New Jersey, Maryland, Virginia and Arizona, for example. The battle continues between the automaker and dealership associations. Featured Gallery Tesla Model S View 10 Photos News Source: Philly.com Government/Legal Green Tesla Electric senate Tesla store

Tesla dropped to 'junk bond' status by S&P

While Tesla Motors' Model S is a piece of pristine, well-designed metal, the company's bonds have now been rated as "junk." But maybe that's better than the other way around. We'll let the investors decide. Standard & Poor's gave Tesla's bonds a 'B-' rating this week, indicating so-called "junk status," Automotive News says. That means investors are saying the company has a relatively high chance of defaulting on its loans. S&P cites Tesla's short history, competition from some very large companies and relatively narrow product line (none of which are new facts), and estimates that investors would be able to recover 30 to 50 cents on the dollar should the company default. Tesla has been issuing billions of dollars in bonds this year to raise funds for its planned gigafactory somewhere in the southwestern US, a project that Tesla estimated will cost $5 billion ($2 billion from Tesla, $3 billion from partners). Tesla said earlier this month that it took a first-quarter loss of $49.8 million, compared to year-earlier net income of $11.2 million. While revenue rose 10 percent to $620.5 million, selling and administrative costs more than doubled while research and development costs jumped 48 percent. And while Tesla's share price has doubled during the past 12 months (it's at around $209 today), the company's liabilities doubled to $3.52 billion from the beginning of the year to the end of the first quarter. There's a short video on the situation from CNN Money below.

Recharge Wrap-up: Video shows Tesla robots at work, Ghosn disappointed by China's EV market

A video from The Wall Street Journal shows Tesla's new assembly robots at work. The hulking bots are each named after X-Men superhero characters to give them a sense of familiarity and make them less intimidating to the humans working alongside them. Their monikers also reflect their superhuman levels of strength. The naming of the robots appears to have had the intended effect, as human employees refer to the automated machines as colleagues, and are happy to have the help moving the heavy cars around the factory floor. The robots were added as part of an upgrade and expansion to Tesla's factory in Fremont, CA last year. See the video above, and read more at Teslarati. Nissan CEO Carlos Ghosn says that China should offer more incentives to improve disappointing EV sales. Nissan sells its Leaf EV in China as the e30 under its Venucia brand. The company didn't disclose sales figures, but Ghosn is disappointed that EVs aren't "taking off" in China like they are in other markets. Until the market improves for the e30, Ghosn says Nissan probably won't introduce other EVs to China. "The main challenge today is really to encourage, put more incentives, in order for the consumer to buy in," says Ghosn. "Before adding more cars and bringing more technology, we just need to make sure we can sell the technology we already put into the ground." Read more at Automotive News. Total in France will convert its La Mede petroleum refinery to produce biodiesel. Total will stop producing petroleum at the refinery by the end of 2016, then spend $216 million to convert it into the country's first biorefinery. Improved fuel economy and energy efficiency have helped reduce demand for petroleum products in Europe by 15 percent since 2008. Total's response to "the crisis in the European refining industry" is "to innovate and adapt to meet shifting demand trends," according to Total CEO Patrick Pouyanne. "The central focus of Total's plan for our French refining business is to realign our operations and products to changing markets." Read more at Domestic Fuel, or in the press release below. Total's French Refining Roadmap: Upgrade Donges and Transform La Mede April 16, 2015 Paris – Total today presented its French refining roadmap to employee representatives. The plan is designed to give each Total's refining site in France the means to resist in a volatile environment and perform profitably.