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Tesla could need another $6 billion to really change the auto landscape

Telsa Motors has some big plans. The electric car company is building its $5-billion Gigafactory near Reno, NV to guarantee a steady supply of lower-cost batteries, has plans to release two new models and is even talking about providing home energy storage on a large scale. The California automaker is ramping up EV production, and hopes to eventually be producing 500,000 cars per year. To do all this, Tesla is going to need a lot of cash, particularly if any of its cars becomes the "next big thing," so to speak. This is money Tesla would need in addition to the revenues it already pulls in. Patrick Archambault, an analyst at Goldman Sachs, said last week that Tesla could need at least $6 billion through 2025 to complete all of the plans listed above and any others, should Tesla become the automotive Apple. An increase in popularity that would see the company hit its production targets would create a need for capital to match that growth. Keep in mind, this is money it would need in addition to the revenues it already pulls in. Tesla has already secured a portion of the funds for its Gigafactory, but still needs to make up the rest. Some will come from its partner Panasonic and Tesla is receiving some serious tax incentives from the state of Nevada (to the tune of $1.2 billion). Archmabault predicts that most of the funds would be needed beginning in 2017, suggesting that Tesla has the financial means to reach its target of 100,000 vehicles by the end of next year. It's not until the Model III comes into play that Tesla might come to need the hefty sums suggested by the analyst. Whether Tesla will become more of a disruptive brand in the automotive world is still anybody's guess. Still, Archambault's suggestion of that possible $6 billion figure was enough to have an effect on Tesla's stock price, which fell after the estimate was released last week, and remains down as of this writing after a note from JP Morgan. Featured Gallery Tesla Model S View 24 Photos Related Gallery Tesla Model X View 15 Photos News Source: Bloomberg via Green Car ReportsImage Credit: Copyright 2014 Drew Phillips / AOL Green Plants/Manufacturing Tesla Electric gigafactory

Recharge Wrap-up: "E-Mobility Thought to the End" project, Tesla owner tracks stolen car

A Tesla owner helped police track her stolen Model S and catch the thief. Katya Pinkowski of Vancouver, BC found her car missing after a concert, and she was able to track the car's movements with the Tesla app. She relayed the information to the police, who surrounded the car and arrested the driver. "High tech definitely played a helping role," in arresting the suspect, says Richmond RCMP spokesman Cpl. Dennis Hwang. In what appears to be the first Tesla theft in Canada, Pinkowski accidentally left an electronic fob in the car, giving the thief easy access. Read more from The Province. Hyundai has delivered a shipment of 50 ix35 (Tucson) Fuel Cells for distribution in Europe. Europe's largest ever shipment of the hydrogen-powered vehicles puts the count at over 250 of the ix35 Fuel Cells shipped to Europe so far. "This latest landmark delivery enhances our leading position in the roll-out of fuel cell vehicles in Europe," says Hyundai Europe COO Thomas Schmid. "With our fuel cell distribution network growing to 13 European countries, we are enhancing our sales and customer service capabilities, making fuel cell electric vehicles more accessible for customers throughout Europe." Read more in the press release from Hyundai. Daimler, The Mobility House, Getec and Remondis are partnering to connect the world's largest second use battery storage unit to the grid. As part of their "E-Mobility Thought To The End" project, retired EV batteries are being used in the 13-MWh storage unit to help stabilize the grid and help manage energy fluctuations from renewable sources. It serves as another step in the life of the battery before recycling, where the materials from the lithium-ion batteries re-enter the production process. This helps reduce the environmental impact and the costs of electromobility. Read more in the press release below. E-mobility thought to the end: World's largest 2nd-use battery storage unit set to connect to the grid • Cooperation between Daimler, The Mobility House, GETEC and REMONDIS completes the battery value creation cycle • Re-use of electric vehicle batteries improves environmental performance and the lifecycle costs of e-mobility • 13-megawatt battery storage unit to connect to the grid in early 2016 • Levelling out fluctuations in the power grid as an active contribution towards the energy revolution The world's largest 2nd-use battery storage unit will soon go into operation in the Westphalian town of Lunen.

Nevada lawmakers debating Tesla gigafactory tax breaks today

When it comes to Nevada's financial incentives that lured Tesla Motors to build its Gigafactory in the Silver State, some lawmakers have said Gov. Brian Sandoval has some 'splain' to do. And such explanations are slated to start today, reports Reuters. When there are $1.3 billion or so worth of incentives, the conversation's likely to be a lengthy one. Nevada Assembly Speaker Marilyn Kirkpatrick is expected to oversee the talks about the incentives, which have been criticized in some circles as being overly generous (even the idea of massive incentives was criticized). Tesla's tax exemptions alone would amount to about $725 million, and there would be about $300 million in payroll savings. Other goodies include business-tax abatements and discounted electricity rates. Sandoval has argued that the Gigafactory, which could open by late 2016, could create $100 billion worth of economic activity during the next two decades, making it a pretty good deal for the state. The factory, to be built near Reno, will be about 5 million square feet and includes battery-maker Panasonic as an investor. It's considered vital to Tesla's goal of making a $35,000 electric car with a 200-mile range. Nevada beat out Arizona, New Mexico, Texas and Tesla's home state of California for Gigafactory bragging rights, but the fight might be just beginning.