Tesla Motors isn't shutting its stores in New Jersey despite the state's ban on the company selling directly to consumers, but will keep them open as showrooms while diverting the actual sales online, Bloomberg reports.
ATLANTA (AP) — Tax credits for low- and no-emission vehicles would be eliminated or scaled back under a plan from Georgia lawmakers who say the incentives are too generous, but manufacturers are concerned the plan would put a dent in their sales.
House lawmakers have approved a plan from state Rep. Chuck Martin, R-Alpharetta, that would repeal a maximum $5,000 tax credit for consumers who buy or lease electric vehicles and up to $2,500 in tax credits for low-emission vehicles. The proposal is now pending before the state Senate.
TRENTON, N.J. (AP) — State motor vehicle officials have approved a regulation that would require all new car dealers to obtain franchise agreements to receive state licenses, a move critics say will hurt the electric-car industry's attempts to expand.
The regulation, adopted Tuesday by the state's Motor Vehicle Commission by a 6-0 vote, effectively prohibits companies from using a direct-sales model, which cuts out the middleman and takes vehicles directly to customers through smaller retail establishments. It will take effect April 1.
TRENTON, N.J. (AP) — New Jersey motor vehicle officials have approved a new regulation that would require all new car dealers to obtain a franchise agreement in order to receive a state license.
The regulation adopted Tuesday effectively prohibits companies from using a direct sales model, which cuts out the middleman and brings vehicles directly to customers through smaller retail establishments.
Critics say the regulation will hamper the electric car industry's attempts to expand its presence in New Jersey.
DETROIT (AP) — The Tesla Model S electric sedan is Consumer Reports' top pick in this year's automotive rankings.
The magazine cited the Model S's sporty performance and technological innovations, including its 225-mile range. But it acknowledged that the car is expensive. Consumer Reports paid $89,650 for the Model S it tested.
For less than a third of that price, the Toyota Prius hybrid got the nod as Consumer Reports' top green car. The magazine also cited strong fuel economy in naming the Honda Accord as the top midsize car and the BMW328i as the best sports sedan.
NEW YORK (AP) — Shares of Tesla Motors Inc. surged Tuesday after a Wall Street analyst told investors that Tesla could shake up the electric utility sector as well as the auto industry.
Analyst Adam Jonas of Morgan Stanley wrote in a note to investors that Tesla could nearly double its share of the global car market by 2028. And it also could create another lucrative business by building battery packs for energy storage. He doubled his target price for Tesla stock to $320 per share from $153.
The Senate plans to try to override President Obama’s veto of the Keystone XL pipeline approval this week, while the House plans a vote on measures targeting the Environmental Protection Agency’s use of scientific data, National Journal reports.
Republicans from the Gulf region are angry about Obama administration proposals to cut the money states will get from offshore oil and gas drilling, but Alabama lawmakers Rep. Bradley Byrne and Sen. Richard Shelby say moves to change the 2006 law giving the states a cut are unlikely to succeed, The Hill reports.
Negotiations between refiners -– represented by Shell Oil. Co. -- and striking workers are set to resume Wednesday, as the walkout by United Steelworkers, now affecting 15 plants, drags toward its second month, Reuters reports.
A strong dollar and an increase in Libyan production helped to pressure oil prices early Monday. U.S. benchmarck crude for April delivery dropped 55 cents to $49.21 a barrel in electronic trading on the Nymex, while in London Brent fell 68 cents to $61.90, Reuters reports.
The administration of Pennsylvania’s new Democratic governor, Tom Wolf, is set to release plans to update drilling rules to address concerns about the health and environmental impact of natural gas drilling, The Associated Press reports.
Michigan lawmakers will be faced this session with deciding what to do in the future about the state’s renewable energy requirement, which currently stands at 10 percent and should be met by utilities this year, Mibiz reports.
Coal price declines are tied to lower natural gas prices, Duke Energy Progress executive Brett Phipps told the Kentucky Public Service Commission in a filing, predicting that coal prices would remain stable in the short term but could become more volatile in the future as miners cut back production, Platts reports.
Former BP CEO John Browne will become executive chairman at LetterOne Energy, backed by Russian billionaire Mickhail Fridman, as the company takes over the oil and gas subsidiary of German utility RWE, The New York Times reports.