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Hybrids and electric vehicles

Tesla alters financing following criticism

Last month Tesla said a new financing arrangement would make the Model S cost a mere $500 a month. Following critique in the press of Tesla's creative accounting, CEO Elon Musk announced revisions to the financing plan, now citing a net cost of $580 per month.

The two substantive changes to Tesla financing involve a revised resale value guarantee and longer term loans from partners Wells Fargo and U.S. Bank.

With the longer term loans, Tesla says the per-month cost of a Model S will be $580, taking into account the savings gained by running the car on … Read more

Hydrogen-fueled Aston Martin laps Nurburgring

Hydrogen and electricity dominate the discourse of zero-emission vehicles, and Aston Martin set out to prove the worth of the former on Germany's famed Nurburgring race course. The British automaker completed a lap of the 15-mile Nordschleife circuit last weekend in a race-modified Rapide S model fueled by hydrogen.

The lap was in preparation for next month's 24 Hours of Nurburgring, in which Aston Martin will enter its car in the E1-XP experimental class of the endurance race.

Aston Martin's Hybrid Hydrogen Rapide S uses an idea already extensively explored by BMW: burning hydrogen in an internal … Read more

Tesla offers loaner cars, valet service

Tesla announced today that it would offer its high-end Model S Performance edition, with an 85 kilowatt-hour battery pack, and the Roadster as loaner cars for when owners' cars are being serviced. As Tesla sells cars directly to owners, the company, rather than a dealer, handles all service and loaner-car issues.

No matter what Model S version is in for service, owners will have their choice of the Model S Performance edition, which retails for $87,400, or one of the older Roadster models as a loaner car. Further, Tesla said it will let owners who would like to upgrade … Read more

Formula E electric-car race adds Los Angeles venue

Los Angeles, once known for its smog, has signed on with the all-new Formula E racing organization to host one of the worldwide series of 10 electric-car races, kicking off next year.

Los Angeles joins Miami; London; Rome; Beijing; Rio de Janeiro; Putrajaya, Malaysia; and Buenos Aires, Argentina, in hosting races in the series. Two more cities in the series have yet to be announced.

The Formula E organization demonstrated one of its electric race cars in Los Angeles on Monday.

Although Formula E intends the series to be open to competitive build teams, the organization has contracted Spark Racing … Read more

Fisker ready to pull the plug

Fisker sent 160 of its employees home from its Anaheim, Calif., headquarters this morning, apparently decimating its workforce, according to a report by Reuters. The move seems to spell the end for the electric vehicle startup.

Reuter's report goes on to say that 53 executives remain on staff, tasked with selling the company's assets.

The company's sole product, the Karma, is a luxury plug-in hybrid with a base price of $103,000. The car uses an electric motor to power the rear wheels and includes an onboard gasoline engine to generate electricity, a drivetrain concept similar to … Read more

Detroit Electric launches SP:01: A Tesla rival

Little-known -- but storied-brand -- Detroit Electric has launched its electric alternative to the Tesla.

The SP:01 is a limited-edition, two-seat pure-electric sports car, according to the company's announcement today.

With its Lotus Elise-like design, the SP:01 boasts a top speed of 155 mph and goes from 0-62mph in 3.7 seconds.

Other marquee features of the SP:01:

Electric motor: rear-wheel-drive with a mid-mounted 200 bhp electric motor made in the USA. Body: carbon-fiber body, with a total weight of 1,070 kg (2,359 pounds). Driving range: With a power rating of 37 kWh, the … Read more

Tesla guarantees resale value of Model S

Last week, Tesla CEO Elon Musk tweeted of an upcoming big announcement. Despite product-oriented speculation, the details that came out today lay out a new financing plan for the Model S.

The plan could bring net payments down to $500 a month according to Tesla, after taking into account the savings from purchasing electricity over gasoline, government incentives, and resale value.

Tesla added a True Cost of Ownership calculator to its site, which lets prospective buyers see how the numbers add up.

Tesla's announcement says it developed the plan with Wells Fargo and U.S. Bank, each of which … Read more

Tesla's Elon Musk tweets about big announcement for Thursday

In a tweet mentioning @TeslaMotors, Tesla CEO Elon Musk promised a big announcement on Thursday, and wrote, "Am going to put my money where my mouth is in v major way."

A Tesla spokeswoman told CNET that the company is still working out the place and timing of the announcement. However, she said that Tesla will not be at the New York auto show, which is holding a press preview on Wednesday and Thursday of this week.

After the tweet was posted, Tesla's shares jumped 4.23 percent.

Musk's second sentence in the tweet suggests he … Read more

Tesla delays Model X one year

Last year, Tesla introduced the Model X crossover electric vehicle at its Los Angeles design center, and said it would begin production of the vehicle in late 2013. That production date has been revised, according to Tesla's shareholder annual report, to late 2014.

The report says that Tesla reached its steady state rate of production for 20,000 Model S sedans per year last December. The Model S is built at Tesla's Fremont manufacturing plant.

A Tesla spokesperson told CNET last December that there is a nine-month waiting period for current Model S orders. Tesla's goal is … Read more

Eco-commuters, behold the solar-savvy $4,000 Elf tricycle

HANNOVER, Germany--Some vehicles don't fit easily into one category or another.

Organic Transit's Elf -- a battery-boosted, solar-powered, covered tricycle -- is definitely one such device.

The North Carolina startup has begun selling the vehicles through Kickstarter and now directly on its Web site. It's now built 12, and it's showing off the $4,000 machines at the CeBit trade show here.

"This is targeting commuters," said Alix Bowman, director of strategy for the 15-person company. One possibility: People can go to work on battery power so they don't arrive sweaty, then can … Read more