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Bond manager has odd advice for Tesla: stop making cars

Tesla Motors said in the release of its first-quarter earnings Wednesday that it will boost its quarterly production on its Model S luxury sedan to as many as 9,000 from the approximately 7,500 it made during the first three months of the year. Bond manager Jeffrey Gundlach doesn't believe that's a good thing. Gundlach, founder of DoubleLine Capital LP, told Bloomberg News that, while Tesla is a better investment than fast-growth companies like Twitter, the automaker would improve its financial results by halting production of its vehicles and dedicating itself to making battery packs for other automakers. A spokesman for Tesla, whose shares are up almost 40 percent this year, declined to comment to Bloomberg. We'll just sit here and imagine Tesla-powered Nissan Leafs and Chevy Volts. Back in the real world, aside from its own vehicles, Tesla makes battery packs for the Toyota RAV4 EV and for some versions of the Smart Fortwo ED and the B-Class EV. Tesla and Toyota first announced their collaborative effort in 2010, which included Toyota's equity investment in Tesla as Tesla prepared to take over the old NUMMI plant in the San Francisco Bay Area. Tesla said Wednesday that it took a $49.8-million first-quarter loss. Compare that to a year-earlier net income of $11.2 million. That's despite boosting revenue 10 percent from a year earlier to $620.5 million. That's largely because Tesla's selling, general and administrative costs more than doubled from a year earlier to $117.6 million.

Cost to drop 691 horsepower in your Tesla Model S P85D? $14,600

Not mentioned during the much-hyped announcement event last night for the Tesla Model S Dual Motor "D" and Autopilot "A" options were how much those advancements will cost. Today, Tesla updated the Model S order page and those pesky little numbers are now available. As it turns out, opting for all of the features mentioned last night will add over $18,000 to the price of your $93,400 Model S P85. To get all of the benefits mentioned last night will add over $18,000 to the price of your Model S. Let's start by revealing the D's price. To add the second-motor to either the 60- or the 85-kWh Model S costs $4,000. That drops the 0-60 time by 0.2 seconds and ups the top speed by five miles per hour in the 60 (to 125 mph) and 30 mph in the 85 (to 155 mph). Interestingly, the overall horsepower output (according to Tesla) is 4 hp lower (376 compared to 380), but the car apparently gets the speed benefits by putting 188 hp on each axle. On the P85D, everything's different. Here, Tesla isn't just dividing the motor into two smaller versions. Instead, the old 470-hp motor is replaced by a "High Performance Dual Motor" setup that has a total output of 691 hp, 221 hp in the front and 470 hp in back. That's how you get the headline 3.2-second 0-60 time alongside the same 155 mph top speed, but the price tag jumps to $14,600 for the setup. Tesla CEO Elon Musk said last night that the tremendous drop in 0-60 time gets you 10 miles of extra range from the dual-motor setup. But if you don't need the quickness, you can go even further. Without the dual motors, an 85-kWh battery Model S can go 265 miles (EPA numbers). The standard 85D gets its range increased to 295 miles at 65 mph (according to Tesla's numbers) while the quicker P85D can "only" go 275 miles. Dual-motor Model S versions will begin deliveries in February 2015. The A option, officially called the "Tech Package with Autopilot," costs $4,250. This is the way that you can get your Model S to drive itself (on private property) and act as an active safety net to your own driving on public roads. Since all Model S EVs now come standard with a new forward-looking camera, radar and 360-degree ultrasonic sensors, the "Autopilot" part of the package would appear to be mostly a software switch. The rest of the package is rounded out by things like seven years of free navigation map updates, LED running lights, memory seats and more.

Recharge Wrap-up: LA Auto Show may feature updated Cadillac ELR, Uber expands Chicago HQ

A Kentucky man has converted his 1939 Dodge pickup to an electric vehicle. Al Gajda of Lexington built the electric truck, which he now uses as his daily driver. "I take advantage of any excuse to drive it; just banging around town, errands, short runs on the interstate, delivering my granddaughter to school in the morning," he says. It is powered by a lithium-ion phosphate battery, which is mounted in a wooden box on the truck bed, and gets about 100 miles per charge. Read more at the Lexington Herald-Leader. Elon Musk will speak at the Automotive News World Congress in January. The Tesla CEO is a featured speaker for the program, "Setting the Pace in a Thriving Market." The event takes place in Detroit, which could lead to an interesting mix of people in the audience, and Musk will speak on January 13. Read more at Automotive News. Production of the Toyota Rav4 EV has ended. The shipment of the final Toyota EVs concludes Toyota's deal to source batteries from Tesla. Of the 2,600 Rav4 EVs to be produced, there are probably just a few hundred left to be sold, most of which are likely to be gone by the end of October. Read more at Inside EVs. Cadillac will likely show an improved version of the ELR at the Los Angeles Auto Show in November. The 2016 ELR will include unspecified "engineering enhancements," according to Cadillac spokesman David Caldwell. There will be no 2015 model, as the 2014 model will be sold until the 2016 ELR goes on sale in the first half 2015. Read more at Edmunds. Uber executives, along with Illinois Governor Pat Quinn, have announced a major expansion of the ride-hailing company's Chicago headquarters. Uber also plans to add 420 jobs by the end of 2016. "Uber's new expanded headquarters will allow the company to continue its rapid growth and serve its riders and drivers throughout Illinois," says Governor Quinn. Last month, Quinn vetoed legislation that would have put restrictions on companies like Uber in the state. Read more in the press release below. Governor Quinn and Uber Announce Major Chicago Headquarters Expansion Innovative Ridesharing Company to Add 420 Jobs by End of 2016 CHICAGO, Sept. 29, 2014 /PRNewswire-USNewswire/ -- Governor Pat Quinn and Uber executives today announced that the ridesharing giant is moving forward with creating 420 new jobs by the end of 2016 in a major expansion of its Chicago regional headquarters.