For The Most Part
That 2015 goal, of course, proved to be overly ambitious鈥攚e passed a million EVs worldwide late last year鈥攜et it hasn鈥檛 tamped down the administration鈥檚 enthusiasm for EVs. Instead it鈥檚 led to a more expansive, holistic approach that endorses electric-vehicle technology from the power station to the pavement. 4.5 billion in loan guarantees to support a wide range of federal and public-private partnership projects for renewable energy and energy efficiency. Those guarantees come via the Department of Energy鈥檚 Loan Program Office (LPO), which issued a supplement clarifying that vehicle-charging facilities, charging hardware, and associated software are now eligible for these loans. 5.9 billion loan in 2009 to Ford Motor Co. to upgrade facilities for more fuel-efficient vehicle components and EcoBoost engines. 305-billion bill that the President signed last September. 2 billion in fines for Volkswagen鈥檚 diesel-emissions scandal that will go toward electric-vehicle infrastructure. A recent survey from the Union of Concerned Scientists (UCS), for instance, found that there鈥檚 widespread enthusiasm for EVs in the Northeast, yet the infrastructure has lagged, as has the number of available plug-in vehicles. 100 per kWh, while tripling the specific energy to 500 watt-hours per kilogram at a durability of 1000 cycles. For the most part, this is good news to the industry. Wade Newton, director of communications for the Alliance of Automobile Manufacturers, a policy and advocacy group representing 12 vehicle manufacturers and about 77 percent of the U.S. 鈥淕oing forward, ongoing efforts by government and private-sector partners will be critical to wider consumer adoption and affordability,鈥?added Newton. Charging companies, automakers, public utilities, and academic institutions are all part of this extensive plan鈥攚hich could potentially change with a new administration.
Porsche is developing versions of its 718 Boxster and Cayman that will be completely electric for 2022. They may even offer these models in combination with hybrid options of their current cars. Porsche chairman Oliver Blume said, 鈥淲e have prototypes of the 718 running in electric now, and a hybrid prototype is being built. An internal study at Porsche showed their lithium-ion battery technology wasn鈥檛 advanced enough for them to offer all-electric versions with more than 186 miles of range without significant changes. So, of course, Porsche is making those changes to make electric versions of the Boxster and Cayman happen. Both of these units have a 48V system which includes an updated version of the 718 models鈥?seven-speed automatic transmission. Porsche enthusiasts are expecting the hybrid drivetrain will provide more performance and efficiency to these luxury cars, and indeed, Porsche is investing the future of electric. They鈥檙e anticipating better batteries for improved energy and increased mileage on their vehicles. Porsche鈥檚 lineup is getting increasingly more electric to appease buyers worldwide. Porsche is even starting their own program to reduce carbon emissions called Porsche Impact, which allows buyers to invest money in environmental programs to offset their carbon emissions.
Wall Street analysts are having a rough time figuring out Tesla stock as the price target on shares got both a hike and a lowering on Friday. The two reports come a day after Goldman Sachs issued a bearish report on Tesla that reiterated a sell rating and cut its price target. Who is right or wrong could be revealed when Tesla reports vehicle delivery numbers for its second quarter. That report is expected in early July. Get exclusive IBD analysis and action news daily. Get exclusive IBD analysis and action news daily. Get these newsletters delivered to your inbox & more info about our products & services. Tesla stock climbed 1%, closing at 221.86 on the stock market today. Surprises and missed expectations set off a sharp plunge in Tesla shares this year, which is down about 34%. Wall Street analysts have expressed mixed views on whether Tesla stock is a buy or sell.
Kallo, in raising his price target, thinks Wall Street's views about Tesla have overshot to the negative. He believes there are several upcoming catalysts that could drive shares higher, beginning with the upcoming delivery release. Kallo wrote in a note to clients. Tesla expects second-quarter deliveries in a range of 90,000 to 100,000 vehicles. The current Tesla production record for a quarter is 90,700, achieved in the fourth quarter of 2018. Tesla Chief Executive Elon Musk has said the company could exceed expectations on deliveries and break that record. In cutting his price target, Houchois said he did so on concerns about Tesla's financial performance. He thinks it will remain volatile as manufacturing expands for the upcoming Tesla Model Y and pickup truck. But he maintained a buy rating. Houchois came away with positive impressions after recently touring Tesla's auto manufacturing plant in Fremont, Calif. Houchois wrote in a note to clients. Goldman Sachs analyst David Tamberrino, who cut his price target to 158 from 200 鈥?one of the lowest on Wall Street 鈥?did so over concerns about long-term performance. Tesla's first-quarter earnings missed estimates by a wide margin when it reported results on April 24. Revenue also fell short.
When a well-known critic of Tesla not only buys one, but writes a favorable review of it, that definitely gets the attention of Tesla fans. Yes, I get it 鈥?feeling like your side is 鈥渨inning鈥?is a good feeling. It鈥檚 nice to see people you disagree with change their minds, or at least appear to soften the negativity that often comes from the press. On the other hand, though, we risk missing a great opportunity if we, as Tesla鈥檚 fans and supporters, play the role of the sore winner. I saw a good number of tweets in the last few days that focused on the one-line zingers that could be mined from Alex鈥檚 review. They chipped the one-liners away from the surrounding stone, threw them in the Twitter cart, maybe washed them a bit, and then sold them as the main point of the article. Not so fast, guys! Read the whole thing.