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Tesla curbs forecast due to Model S issues, losses total $864.9M

It ain't easy creating a brand-new automaker from scratch. The fact that Elon Musk and Tesla have actually been able to bring not one, but two cars to market is in itself quite impressive. That said, the road has not been without its bumps, and Tesla is feeling some of the setbacks that come with being a fledgling automaker.
To that end, Tesla has revealed that it expects $400 million to $440 million in full-year revenue, or roughly $160 million less than its prior 2012 revenue forecasts. In a Securities and Exchange Commission filing on Monday, the electric carmaker said "We have methodically increased our Model S production at a slower rate than we had earlier anticipated," leading to the company figuring they'll fall short of the $560 million to $600 million they originally forecasted. Tesla also revealed a net cumulative loss of $864.9 million through June 30 of this year - Tesla has yet to break even as an automaking entity, but it remains something of a startup, so the fact that it has lost money to this point shouldn't be a major surprise - building cars is expensive, and learning how to do so is even more expensive. Following the disclosure, Tesla shares fell about 8.5 percent this morning in trading.
Tesla cites delays in suppliers for its Model S production shortcomings. The California automaker says it is working with suppliers to speed up deliveries and internally, it is adding shifts and automation to its manufacturing processes. With little more than half of the 5,000-vehicle target expected to be built by year's end, Tesla says it is four to five weeks behind its delivery goals.

Recharge Wrap-up: meet the '66 ZelectricBug, DOE announces home-scale H2 refueling competition

The US Department of Energy has launched the $1 million H2 Refuel H-Prize competition to create small- to medium-scale hydrogen refueling systems. The systems could be home-scale systems that produce hydrogen using utilities at home for refueling, or medium-scale systems to supply locations such as retail centers, apartment complexes or small fleets. The DOE sees hydrogen fueling infrastructure as the biggest obstacle to fuel-cell vehicle adoption and putting the production and refueling in the hands of the consumer could be a way around that obstacle. Read more at Energy.gov and at Green Car Congress. Hyundai has announced a new six-speed automatic transmission with integrated electric motor for new hybrid models. The new configuration puts most of the hybrid powertrain components within the transmission, and the torque converter has been eliminated. The new engine clutch reduces drag with fewer clutch discs, and the mechanical oil pump has been replaced with an electric one. The result is fewer energy losses, improved efficiency and greater mileage. Read more at Hybrid Cars in Reuters or in the press release from Hyundai below. Zelectric Motors has completed its electric 1966 Volkswagen Beetle rebuild, and has put it up for sale. The '66 ZelectricBug, as it's called, is powered by a 50-kW electric motor and 20-kWh battery pack, and offers 120 pound-feet of torque. It has a range of 80 miles, and is capable of at least 100 mph. The stock transmission has been rebuilt. It also has some new goodies like high-performance sway bars, custom shocks, and LED lighting. The '66 ZelectricBug is priced at $45,000. Check it out in the video below and read more at Hybrid Cars. A startup called Alevo says it will build a billion-dollar factory in North Carolina to make longer-lasting lithium iron phosphate batteries. Alevo has purchased an old cigarette factory in Concord for $68.5 million, but it's unclear whether or not the company has secured the $1 billion investment to begin producing batteries. The company plans to create 2,500 to 6,000 jobs and produce several gigawatts worth of batteries per year, which is a tall order for a relatively unknown company. Read more at Gigaom, or in Alevo's press release below. Tesla owners in Shanghai will be exempt from the city's $12,000 registration fee. About 400 people have already received the free license plates in Shanghai, where the government wants to encourage alternative fuel vehicles.

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.