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Wall Street still irrationally exuberant over Tesla shares

In a world where electric cars are far from the norm, it seems odd to us laypeople that you can't buy a share of Tesla stock (ticker symbol TSLA) for less than $230. But a research note issued Monday from Goldman Sach's respected team of auto industry analysts (seen in PDF form in our gallery) has added fuel to the irrational exuberance fire, guaranteeing that Tesla's stocks should hover at these seemingly unreasonable prices for some time.
Goldman Sachs analyst Patrick Archambault compared Tesla CEO Elon Musk to Apple's Steve Jobs, saying the Model S is a lot like the iPhone. The major difference is that it will take a lot longer for Tesla's electric cars to make a sizable dent in the auto industry, Archambault said, than it took for the iPhone to take over the smart phone world. If Tesla rolls out a non-luxury car in the next few years as is rumored, Archambault predicts the company could be selling 500,000 electric cars a year by 2022 or 2023. Based on those projections, the Goldman Sachs analysts says a fair price for Tesla's stock right now is about $200 a share.
Which, in the upside-down world of Wall Street, means the current share price of around $238 is nearly $40 overvalued. But that hasn't stopped traders from pushing up the price of Tesla's stock today between $3 and $4 a share. Over at Oilprice.com (subscription), contributor Martin Tiller on Friday was already sounding the alarm bells, saying Tesla share's are overpriced, despite the promising technology.

NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.

Recharge Wrap-up: Tesla battery drain reported; ELF two-seater solar trike

Biofuel company KiOR has filed for bankruptcy. KiOR, which was born out of a partnership between Khosla Ventures and Dutch biofuel startup BIOeCON, has debts numbering $261.31 million, with just $58.27 million in assets. The company produced biocrude from cellulosic biomass, but was unable to meet its production targets at its facility in Columbus, MS, and was also facing quality problems and accused mismanagement. KiOR shuttered its biocrude plant earlier this year, and suffered a huge loss in stock value. Read more at Gigaom. Some Tesla Model S owners are complaining again of "vampire" drain during sleep mode. Since downloading the Firmware 6.0, some drivers have reported a battery draw, even when set to "sleep always." Losses can be up to 12 miles of range from sitting overnight, and the latest versions of 6.0 haven't seemed to have solved the problem. Interestingly, the problem isn't affecting all Model S owners. Also, battery draw problems have been reported in the past, which Tesla took steps to fix in previous firmware updates. Read more at Inside EVs. Daimler's Car2go carsharing service is expected to reach 1 million users by the end of the year. The company currently reports 900,000 users worldwide. Car2go operates in 29 cities in North America and Europe, with plans to expand operations to China. "China might be risky, but it also brings lots of opportunities," says Daimler's Rainer Becker. While Car2go has yet to make a profit as a whole, it is moving in that direction, with Becker saying some cities' operations are already profitable. Read more at Automotive News Europe. The ELF solar- and human-powered trike from Organic Transit is now available as a two-seater. The ELF 2FR, as it is called, is a package that adds a rear seat behind the driver of the pod-shaped EV to allow for eco-friendly transport of two adults. The standard ELF retails for $5,495, and the upgrade to the 2FR adds another $499 to the price, which seems like a small premium for doubling the occupancy. Organic Transit hasn't released all the details on its website for the 2FR yet, but the standard ELF charges via outlet or 100-watt solar panel, goes 20 miles per hour and gets the equivalent of 1,800 miles per gallon (though adding the weight of another adult will certainly change those mileage numbers). Check out the Organic Transit's ELF 2FR in the videos below and read more at Treehugger. VIA Motors has received EPA certification for its range-extended electric van.