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Recharge Wrap-up: Tesla hiring new sales executives, A123 focuses on starter batteries

A123 Systems is shifting more of its focus to lithium-ion starter batteries for cars with stop-start systems. The company sees the smaller batteries as a safer, more viable way to bounce back from its recent bankruptcy than by providing battery packs to power EVs. A123 still provides EV batteries to China, and hopes to provide them to Fisker, which is now owned by a mutual parent company, Wanxiang. A123's Detroit facility is currently building starter batteries for Mercedes-Benz, with microhybrid battery production expected in within the next few years. Read more at Automotive News. Tesla Motors Vice President of Worldwide Sales and Service Jerome Guillen is being reassigned to a role in customer satisfaction. After struggling sales in California and China, Tesla is also seeking sales executives for its three major sales regions: North America, Europe and Asia. "Once they are on board, Jerome's focus will be on post- sales activity from delivery to long-term customer care, where he has done an incredible job," says Tesla. For 2014, North America made up about 55 percent of Tesla's sales, while Europe and Asia made up 30 and 15 percent, respectively. Tesla expects those numbers to eventually be distributed evenly, and aims to increase sales by 74 percent this year. Read more at Automotive News. David Noland of Green Car Reports wants Tesla to address a double-pedal problem in the Model S. Noland says that when both the accelerator and brake pedal are pressed at the same time, it can increase the stopping distance, creating unsafe situations. Noland, along with other drivers with large feet, are having problems with this due to the narrow spacing between the pedals. Elon Musk has stated that the Model S limits torque in a double-pedal situation, but Noland's own tests find some inconsistencies. Noland would like to see a change to the firmware to address this problem. Read more at Green Car Reports. Featured Gallery Tesla Model S View 10 Photos Related Gallery 2012 Fisker Karma: Second Drive View 30 Photos News Source: Automotive News, Automotive News, Green Car ReportsImage Credit: Tesla Motors Green Fisker Tesla Green Automakers Safety Electric recharge wrapup

Ferrari, not Tesla, might be the stock to buy

Last week Tesla's earnings – or lack thereof – were one of the big stories in the auto industry. As usual, the electric carmaker didn't make money, but the news sent the market, analysts, and Tesla's devoted fans into a lather. But another company, this plucky upstart called Ferrari, also attracted a positive reaction from the market and actually had the financials to back it up. Ferrari posted net revenues of $898 million (at today's exchange rates) EBITDA of $265 million (a slightly complicated way to snapshot financial performance) and an adjusted net profit of $136 million in the first quarter. The company delivered 2,003 cars, and sales of its V12 models increased 50 percent. It quietly made progress nearly a year and a half into its life as an independent automaker. For 2017, Ferrari expects to deliver 8,400 cars and rake in net revenue of $3.6 billion. No one thought Ferrari would flounder when Fiat Chrysler Automobiles spun it off in fall 2015. With a rich history, expensive products, and its own loyal fan base that's arguably even larger than Tesla's, the company seemed poised for success, though skeptics wondered how it might fare after longtime chief Luca di Montezemolo stepped down before the spinoff. Plus, the company remains within the FCA sphere, as its key stakeholders are largely connected to its former parent in some way, and Chairman Sergio Marchionne also steers FCA. Last week's results showed Ferrari is gaining footing in the evolving automotive world, and analysts responded. UBS analyst Michael Binetti reiterated Ferrari stock (RACE on the NYSE) as buy status and raised his target price from $85 to $92. Morgan Stanley's Adam Jonas was even more bullish, raising projections to $100 in the next 12 months. Shares were trading around $82 Monday morning. Both analysts viewed Ferrari as something different than a conventional automaker stock, with Binetti comparing it to luxury house Hermes, which produces high margins even for a specialty goods maker. Jonas suggested Ferrari's singular reputation and history (16 Formula One Constructors titles, the most ever) could insulate its products when autonomous and electric cars become even more commonplace. "In our view, a Ferrari is not transportation," he wrote in a note to clients. "Ownership is viewed as an exclusive club, and membership requires more than just money.

Tesla layoffs, new safety mandates, and a bumper crop of V12s! | Autoblog Podcast #830

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd for a gasoline-powered installment. They lead off by diving into the Tesla layoff news from this week before leaving electrification behind for a bit to talk about not one, but two production V12 unveilings. This isn't a drill, folks; Aston Martin and Ferrari are both committed. After that, they touch on the U.S. government announcement that it would mandate automatic emergency braking systems starting in 2029. They finish up the news segment with a chat about Fisker. Poor, poor Fisker. From there, it's on to the road tests. The Autoblog team has been testing out some EVs and both Byron and Greg had some thoughts to share, plus we get a final update from Byron on the long-term Subaru WRX and some notes from both drivers about the updated Range Rover Evoque.  Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #830 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Axing Tesla's Supercharger department raises worries as other automakers join network Fisker tells its staff that four companies are interested in buying it Ferrari confirms the 812 Superfast's successor will keep the V12 alive Aston Martin isn't done with V12s, it redesigns the engine U.S. to require automatic emergency braking on new vehicles What we've been driving 2024 Hyundai Ioniq 6 2021 Tesla Model Y 2024 Range Rover Evoque Long-term Subaru WRX Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Government/Legal Green Podcasts Aston Martin Ferrari Hyundai Land Rover Subaru Tesla Convertible Coupe Crossover SUV Electric Performance Sedan