The latest green or electric car news is naturally dominated by the latest earnings report from Tesla Motors Inc (NASDAQ: TSLA), but there is actually plenty of other industry news to consider along with news from small cap electric vehicle stocks like Kandi Technologies Group Inc (NASDAQ: KNDI) and Green Automotive Co (OTCMKTS: GACR) to hit the newswires in the first few days of this week to also consider:Tesla Motors is Set to Soar. After the market closed yesterday, Tesla Motors reported fourth quarter and full year results which can be viewed here plus held its earnings conference call whose transcript is available here on Seeking Alpha. There is already plenty of commentary about the earnings report filling the Yahoo! Finance newswires and it appears that Wall Street is focusing on the lower than expected lost and the rosy guidance, but the company did warn that it expects to be constrained by tight battery supplies in the first half. Tesla Motors fell 4.94% to $193.64 but the stock is rising as much as 12.6% in after hours trading. Shares are also up 422.8% over the past year and up 908.5% since July 2010.
The Chinese Take Over Fisker Automotive. China's Wanxiang Group has won court approval in Delaware to take over failed luxury hybrid-car maker Fisker Automotive Incafter outbidding Hong Kong billionaire Richard Li in a bankruptcy auction. Li's group has already signaled it would move to collect most of the $149.2 million Wanxiang is paying as it exercises its rights as Fisker's senior secured lender to trump the claims of unpaid suppliers. Chinese EV Subsidies Should Help Tesla and Kandi Technologies Group. Electric car stocks got a boast on Monday on news that China will give more subsidies for electric vehicles than previously announced as it tries to cut rising air pollution. Specifically, China's government will soften a planned cut in government subsidies to electric car buyers to 5% from the previously announced 10% for this year and reduce the subsidy by 10% in 2015 instead of 20%. The subsidy program was also extended beyond 2015. It should be noted that Tesla Motors opened its first mainland China showroom in Beijing late last year and is expected to quickly ramp sales of its high-end electric cars while China's Kandi Technologies, which makes specialized electric vehicles such as all-terrain vehicles and utility vehicles, will also probably benefit from the move. Otherwise, investors should be aware that the Kandi Technologies Group is up 250.4% over the past year and up 1,568.7% over the past five years.
Apple Looks Into Electric Cars and Medical Devices. The San Francisco Chronicle is reporting that Apple's merger and acquisition chief Adrian Perica had met with Elon Musk last spring while the Telegraph noted that in October of last year, German banking analyst Adnaan Ahamd had urged the company to invest in Tesla to "radically alter Apple's growth profile." Apple is also reportedly looking into medical devices – specifically sensor technology that can help predict heart attacks. How To Charge All of Those Electric Cars? The MIT Technology Review has an interesting article outlining a problem that will develop if electric vehicles get to popular: How to keep all of them charged. However, mathematicians have worked out how electricity companies can distribute their power fairly to car owners, but having accurate information about driving habits may still be a cause for concern. Lithium Companies Join Forces to Build a Better EV Battery. Bosch, GS Yuasa and Mitsubishi have announced a joint venture to improve development of the next generation of batteries for electric vehicles with the goal of doubling energy capacity to help make electric cars truly mass-market in the next decade. Currently, the majority of EVs on sale provide a range of 70 to 100 miles – which is actually adequate for most drivers but its still perceived as a limitation. Each firm will bring something to the table as Bosch has expertise in packs and management systems plus knowledge about integrating packs into vehicles; GS Yuasa has years of experience in manufacturing high-density cells; and Mitsubishi has a large sales network plus experience in global value-added chains. Green Automotive Co Announces an Acquisition. A state-of-the-art niche vehicle design, engineering, manufacturing and sales company, Riverside California based small cap Green Automotive Company has a focus on three key electric vehicle related market segments: Liberty Electric Cars Ltd designs and develops EV technologies for use in its own converted vehicles and for sale to OEM's for incorporation into their production plus provides a full aftermarket program for electric vehicle users. Newport Coachworks Inc specializes in building high quality shuttle buses that run on a variety of energy sources, ranging from gasoline and diesel to CNG. GoinGreen Ltd pioneered electric vehicles in the UK with the G-Wiz which saw sales of 1400 vehicles. In 2012, GoinGreen embarked on a programme to become the first "1 stop shop" for sales of all sustainable transport solutions.
On Tuesday, the Green Automotive Company signed a binding agreement to buy California and Mexico-based Blackhawk Manufacturing Inc and its affiliated companies. Blackhawk manufacturers specialist composite materials with facilities in Bloomington CA and Tijuana Mexico with sales of around $5 million per annum. Blackhawk Manufacturing Inc is already a supplier to Green Automotive Co plus several parts of GACR's business will benefit from the facilities that Blackhawk provides. Otherwise, it should be noted that at the end of last year, Green Automotive Company announced it had started selling the electric Mia – an ultra-compact, silent, economical and zero-emission vehicle with a range of up to 80 miles – making it a good option for consumers living in big urban areas with limited parking who need an option beyond public transportation.
On Wednesday, small cap Green Automotive Co fell 1.89% to $0.052 for a market cap of $20.60 million.