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Michigan gets into anti-Tesla legislation game

If you figured the home of the US car industry would be against messing with the age-old, franchised-dealer auto distribution system, you'd be right. Michigan, home to the Big Three US automotive companies (General Motors, Ford, Chrysler, now Fiat Chrysler), is moving towards officially disallowing companies like Tesla Motors from selling their cars directly to consumers, according to the Wall Street Journal. Tesla will naturally fight this, but it's one more challenge for the California-based automaker. Both chambers of Michigan's legislature approved bills banning automakers from selling cars to the public without doing so through a third-party franchised dealership. Tesla once again will rally against this, arguing that the uniqueness of its electric vehicles prevents third-party dealers from properly marketing the cars. Legislation like this continues to make its way through various states, with varying degrees of approval. Last month, the Georgia Automobile Dealers Association stated its intention to shut down Tesla's one state store and prevent two planned outlets from opening. Texas, New Jersey, Maryland, Virginia and Arizona have also taken a hardline approach to preventing direct automaker-to-public sales. Tesla has worked out compromises in other areas, for example with Pennsylvania in August. There, electric vehicles are now exempted from the franchised-dealer mandate.

Tesla Roadster getting 400-mile battery upgrade

A few months ago, Tesla Motors CEO Elon Musk said something a bit cryptic during the company's annual shareholder meeting: Tesla was working on "a fairly exciting upgrade to the Roadster." Mysterious, no? Well, speaking with Auto Express recently, Musk revealed what this upgrade will be: an improved battery pack. "The Roadster had an old generation battery," Musk told Auto Express." We'll upgrade it to a new generation battery pack and it should have a range of about 400 miles, which will allow you to drive from LA to San Francisco non-stop." The Roadster originally came with a 245-mile range, which is good for Los Angeles to Madera, CA. Tesla sold the Roadster, its first car, in the US from 2008 to 2011 and elsewhere until 2012. It's not that the old Roadster batteries were failing regularly – quite the opposite, in fact – but li-ion EV technology advances rapidly, and so now we're extra curious what's in the new pack and how it will work. Will it be compatible with Tesla's Supercharger technology? How much will it cost, both for Roadster owners as well as for Tesla? We've asked Tesla for answers to these questions, but all a spokeswoman would say is, "We have no further details at this time." At the shareholder meeting in early June, Musk said the "exciting upgrade" would happen this year, so if he was talking about the battery upgrade at that time, we should be getting more information on the new packs right soon.

Wall Street loves Tesla's Elon Musk, values the brand higher than Fiat

Tesla's value on the stock market far exceeds the number of vehicles it contributes to the automotive market. According to a report from Automotive News, Tesla is currently valued at $8.8 billion. Almost unbelievably, though we've never claimed to have a firm grasp on the inner workings of the stock market, that's a full billion dollars more valuable than Fiat and three times more valuable than PSA Peugeot Citroën, says the report.
How unfathomable is that statistic? Consider the fact that Tesla, a ten-year-old company, just managed to turn its very first profit last quarter and has produced fewer than 10,000 vehicles in its lifetime. How does that compare to an automotive giant like Fiat? Well... it doesn't - The brand sold 44,772 Fiat 500s in the United States alone in 2012, and it owns or controls the Chrysler portfolio of brands along with Ferrari and Maserati... not to mention the hundreds of thousands of cars Fiat Group sells yearly in the rest of the world.
Granted, the number of vehicles sold by a brand is just a small portion of its value, but you may still wonder, Why is such a seemingly small player in the global automotive marketplace such a big deal on Wall Street? According to AN, it has a lot to do with its controversial and headline-grabbing CEO, Elon Musk, and the way he disseminates company information to his investors. How so? We suggest you take a good look at the article here for the whole story.