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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.

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: No Tesla Gigafactory deal with California, BMW i3 recalled

Before the Nevada announcement was hinted at, a deal to incentivize a Tesla Gigafactory in California fell through. Tesla was looking for around $500 million in incentives, which the California Governor's Office of Business and Economic Development was willing to offer in tax breaks along with making the permit and environmental processes easier. According to Senator Ted Gaines, there still remained "a gap between what Tesla wanted and what California was willing to offer," the contents of which were undisclosed. California could still be chosen for another of Tesla's battery plants, should those ever materialize. Read more at The Desert Sun. The California Air Resources Board (CARB) will consider allowing a bit of compliance flexibility to its Zero Emission Vehicle (ZEV) regulations for some automakers. CARB will hold a hearing to discuss giving intermediate volume manufacturers (IVMs) - carmakers that do between 4,501 and 60,000 new vehicle sales in the state - some leniency catching up to the larger manufacturers when it comes to clean vehicle production. The ZEV regulation changes take into account the amount of revenue IVMs have available for developing the cars, particularly plug-in hybrids. Read more at Green Car Congress or see the notice from CARB here. Certain units of the BMW i3 are subject to an airbag recall. For cars built March 31, 2014, the passenger airbag inflator may have been assembled incorrectly, which could keep it from deploying when needed. Owners will be notified by BMW, and the problem will be fixed for free. The recall also affects certain 2014 Mini Cooper models. Learn more at the NHTSA website. The Renault-Nissan Alliance is providing 200 electric vehicles to telecommunications company Orange in France. The cars, which will include the Nissan Leaf, Nissan e-NV200, Renault ZOE and Renault Kangoo ZE, will be used mostly for carsharing. Through the program, Orange employees can book a car for work or personal travel using a smartphone. The Alliance will also help Orange install charging stations for the new cars. The addition of the EVs to the fleet will help Orange achieve its goal of reducing its carbon footprint by 20 percent by 2020. Read more in the press release, below. Jianghuai Automobile Company (JAC) is delivering its first 100 EVs to the US. The shipment is part of a larger order of 2,000 cars to be sold by GreenTech Automotive in the US market. Read more at ECNS.