Lotus Elise and Exige Recall Affects Most Tesla Roadster Models

As most of you may already know, the all-electric Tesla Roadster is based on the Lotus Elise with which its shares numerous parts including the rear hub flange bolts that have been deemed defective. According to the NHTSA, on some vehicles the bolts may be under-torqued and could become loose. The two companies issued separate notifications on the matter with Tesla saying that the recall affects 345 Roadster models manufactured between March 2008 and April 22, 2009 (out of a total of 400 cars sold until May 2009) while Lotus is recalling 27 Elise and Exige vehicles built from January 14 through May 5, 2009.

Both recalls are expected to begin in June. Tesla owners may contact the company at 1-877-888-3752 while Exige and Elise drivers can call Lotus at 1-800-245-6887.

Fact of the Day: Tesla Motors Worth Half of GM's Value!

We are more than aware that this doesn't mean squat in the real world, but nevertheless it's something worth noting. Last Wednesday's announcement that Mercedes-Benz parent company Daimler AG's paid $50 million US or about €37 million to acquire a 10 percent stake in Tesla Motors, means that the value of the California-based maker of electric cars is $550 million US, or 47 percent of what General Motors is worth today based on the firm's current stock price ($1.17 billion US)! Needless to say, GM's stocks have taken a deep plunge lately as the June 1 government-imposed bankruptcy deadline looms.

"It's sort of amusing to see the valuation being half of General Motors," remarked Tesla co-founder Martin Eberhard in an interview today. "There always seems to be this huge disparity between the stock price of high-growth Silicon Valley companies and blue-chip companies that are reasonably mature."

source: http://carscoop.blogspot.com

Mercedes' Parent Company Daimler Acquires 10% Stake in Tesla Motors

Turns out that the yesterday's rumors were spot on as Mercedes-Benz' parent company, Daimler AG, announced today in a press conference in Stuttgart that the German firm has acquired an equity stake of nearly 10 percent of Tesla Motors. The two companies that have already sealed a deal to integrate Tesla's lithium-ion battery packs and charging electronics into the first 1,000 units of the electric Smart car, said that new partnership will allow them to work even more closely on the development of battery systems, electric drive systems and in individual vehicle projects.

As part of the deal between the two firms, Prof. Herbert Kohler, Vice President E-Drive and Future Mobility at Daimler AG, will take a seat on Tesla's board of directors.

"Our strategic partnership is an important step to accelerate the commercialization of electric drives globally," said Dr. Thomas Weber, Member of the Board of Daimler AG, responsible for Group Research and Mercedes-Benz Cars Development.

Tesla CEO Elon Musk said that the lithium-ion pouch-cell battery developed by Daimler and especially designed for automotive applications is of interest to the California-based company that recently unveiled the all-electric Model S sports sedan which is scheduled to enter the market in 2011.

"We are looking forward to a strategic cooperation in a number of areas including leveraging Daimler's engineering, production and supply chain expertise. This will accelerate bringing our Tesla Model S to production and ensure that it is a superlative vehicle on all levels," said Musk.

source: http://carscoop.blogspot.com

Mercedes-Benz Parent Company to Announce New Electric Vehicle Partner - Could it be Tesla?

In a few hours from now, Mercedes-Benz's parent company Daimler AG, will announce details on a new "strategic cooperation" for its electric car business. While the German firm did not disclose the name of its partner, rumor has it that it could be Tesla Motors as the two companies have already struck a deal for the Smart EV program which involves the outfitting of 1,000 electric Fortwos with Tesla's lithium ion battery pack and charging systems. We'll update this story as more details become available.

source: http://carscoop.blogspot.com