Posts Tagged ‘Whip’
Tesla Stock Soars After IPO, but A123’s Rise and Fall May Offer Lessons
by Jim Motavalli for bNet, June 30, 2010
The excitement over the Tesla Motors IPO is contagious. But the giddy would-be investors who sent the stock soaring to $23.89 on Tuesday, its first day of trading, might want to consider what happened to the only other electric-car-related stock to go public in recent years — battery maker A123.
Although, like Tesla, it was losing money, A123 was nonetheless riding high in 2009. It had a recently signed deal as battery supplier to Chrysler’s hot new ENVI division, which was showcasing a sexy electric sports car along the lines of the Tesla Roadster. Plus, A123’s batteries could boast of nanotechnology engineering that gave them a cutting-edge sheen.
If you were smart, getting in and out early, you made money trading A123 stock. Launched at $13.50 in September 2009, it quickly soared to $20.29. But ENVI was a victim of Chrysler’s bankruptcy and never plugged in. Today you can again buy A123 stock – for $9.50. The company’s batteries are going into the Fisker Karma, a high-stakes gamble that launches early next year.
People are now making money on Tesla stock, which trades above $27. But Tesla is also a gamble — if the fact that the company has never made money (it lost $29.5 million in the first quarter) is relevant. The stock is trading on the Nasdaq Global Market as TSLA. Investors got in line to buy the 13.3 million shares offered (initially at $17), giving Tesla a market value of $2.22 billion. I had expected Tesla’s shares to perform much as A123’s did, and it’s possible that they’ll come back down to earth just as quickly as reality sets in.
The Motley Fool describes Tesla’s IPO as “blazing hot,” but it still recommends against buying the stock, urging investors to wait until the company is headed into the black.
I am ultimately bullish on Tesla. The company’s partnership with Toyota is very promising, and a $465 million federal loan for the Model S will be a big help. The company’s $109,000 Roadster is not vaporware, it’s an exciting, innovative car that singlehandedly created buzz for EVs. (See my test drive of the Roadster here.) To date, it’s the only plug-in car to have sold in any numbers.
But Roadster’s sales — 1,063 had been purchased as of March 31 — appear to have slowed, and the company will finally face competition in the coming months from Fisker, Nissan (the Leaf) and Chevrolet (the Volt). Coda, Wheego, Think and others will also soon have plug-in cars on the market.
A lot rides on Tesla’s more mainstream four-door Model S, which will sell for $49,900 when the $7,500 federal tax credit is factored in. The Model S has the potential to make Tesla a more mainstream automaker, and the company is describing it as a “platform” from which it can launch cabriolet, crossover SUV and van variants.
There’s also an as-yet unnamed third model that promises to bring the company’s glamour to entry-level buyers. But for now the Model S launch is soaking up all available cash, and that means profits will remain thin on the ground for the foreseeable future.
If I were the investing sort, would I put money on Tesla? Sure, why not – a little of Elon Musk’s risk-taking gene has probably rubbed off on me. But I think I’d wait until the dust settles before committing my cash.
Wheego Electric Cars Now on GSA Schedule
The all-electric Wheego Whip LSV is available on the General Services Administration Schedule 23 for Low Speed Vehicles (LSVs).
Atlanta, GA (PRWEB) June 29, 2010 — WHEEGO ELECTRIC CARS today announced the Wheego Whip LSV is available on the General Services Administration Schedule 23 for Low Speed Vehicles (LSVs).
The GSA contract facilitates Wheego Electric Cars selling LSVs to Federal Agencies, affiliated companies and military installations across the U.S.
“The Wheego Whip LSV is an excellent choice for government fleets,” explains Wheego President Jeff Boyd. “It is one of the few all-electric vehicles on the GSA schedule that is a ‘real’ car and not a golf cart. It is street-legal, with an all-steel body, enclosed cabin, heater and radio, plus available air conditioning. It’s all-electric and produces zero emissions, so it will help government agencies meet their federally mandated energy conservation goals. We anticipate our highway-speed car, the Wheego LiFe, will be added to the GSA Schedule after it launches in the U.S. in September.”
Executive Order 13423 – “Strengthening Federal Environmental, Energy, and Transportation Management,” signed by former President George W. Bush, mandates that federal agencies (a) improve energy efficiency and reduce greenhouse gas emissions of the agency, through reduction of energy intensity by (i) 3 percent annually through the end of fiscal year 2015, or (ii) 30 percent by the end of fiscal year 2015, relative to the baseline of the agency’s energy use in fiscal year 2003.
The initial Wheego offering is the Whip LSV, which is available now. The Whip LSV is an all-electric low speed vehicle which can be driven on roads with posted speed limits of 35 miles per hour or less, including streets on military bases across the U.S. The Wheego Whip LSV is now listed on GSA Schedule 23 for LSV’s under contract number GS-30F-0036W.
The next Wheego offering, the Lithium-based full-speed Wheego LiFe, will begin shipping to customers across the U.S. in September. It will go approximately 100 miles on a charge, and will be fully crash-tested and highway-ready. Wheego is taking reservations for the Wheego LiFe now at Wheego.net.
About Wheego Electric Cars
Wheego Electric Cars is an innovation-driven and environmentally-conscious manufacturer of Electric Vehicles (EVs). Under the leadership of Mike McQuary, CEO and former MindSpring entrepreneur, Wheego Electric Cars has become a leader in the integration of advanced technology components. Wheego Electric Cars is one of the first EV companies to deliver affordable fully capable, street legal all-electric cars for everyday consumer use.
The Wheego all-electric cars are sold through a nationwide dealer network. Dealers interested in representing the Wheego brand should contact Jeff Boyd at jboyd(at)wheego(dot)net.
For more information about Wheego, visit the company website at www.wheego.net.
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Wheego Electric Cars Now on GSA Schedule
ATLANTA, GA (June 29, 2010) – WHEEGO ELECTRIC CARS today announced the Wheego Whip LSV is available on the General Services Administration Schedule 23 for Low Speed Vehicles (LSVs).
The GSA contract facilitates Wheego Electric Cars selling LSVs to Federal Agencies, affiliated companies and military installations across the U.S.
“The Wheego Whip LSV is an excellent choice for government fleets,” explains Wheego President Jeff Boyd. “It is one of the few all-electric vehicles on the GSA schedule that is a ‘real’ car and not a golf cart. It is street-legal, with an all-steel body, enclosed cabin, heater and radio, plus available air conditioning. It’s all-electric and produces zero emissions, so it will help government agencies meet their federally mandated energy conservation goals. We anticipate our highway-speed car, the Wheego LiFe, will be added to the GSA Schedule after it launches in the U.S. in September.”
Executive Order 13423 – “Strengthening Federal Environmental, Energy, and Transportation Management,” signed by former President George W. Bush, mandates that federal agencies (a) improve energy efficiency and reduce greenhouse gas emissions of the agency, through reduction of energy intensity by (i) 3 percent annually through the end of fiscal year 2015, or (ii) 30 percent by the end of fiscal year 2015, relative to the baseline of the agency’s energy use in fiscal year 2003.
The initial Wheego offering is the Whip LSV, which is available now. The Whip LSV is an all-electric low speed vehicle which can be driven on roads with posted speed limits of 35 miles per hour or less, including streets on military bases across the U.S. The Wheego Whip LSV is now listed on GSA Schedule 23 for LSV’s under contract number GS-30F-0036W.
The next Wheego offering, the Lithium-based full-speed Wheego LiFe, will begin shipping to customers across the U.S. in September. It will go approximately 100 miles on a charge, and will be fully crash-tested and highway-ready. Wheego is taking reservations for the Wheego LiFe now at Wheego.net.
About Wheego Electric Cars
Wheego Electric Cars is an innovation-driven and environmentally-conscious manufacturer of Electric Vehicles (EVs). Under the leadership of Mike McQuary, CEO and former MindSpring entrepreneur, Wheego Electric Cars has become a leader in the integration of advanced technology components. Wheego Electric Cars is one of the first EV companies to deliver affordable fully capable, street legal all-electric cars for everyday consumer use.
The Wheego all-electric cars are sold through a nationwide dealer network. Dealers interested in representing the Wheego brand should contact Jeff Boyd at jboyd@wheego.net.
For more information about Wheego, visit the company website at www.wheego.net.
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Electric Cars: Fad, Niche, Or Rebirth Of The Auto Industry?
by Jonathan Welsh for the Wall Street Journal, June 28, 2010
At a glance the electric car seems like a quirky niche product which, while appealing to a few early adopters, will never gain broad acceptance in the mass market. Whether it is the high cost of batteries, anxiety about limited range, recharging times or simple fear of the unfamiliar, drivers are unwilling to switch to electrics from gasoline powered vehicles. Or are they?
Remember, 110 years ago people were skeptical about early automobiles. They wondered, what happened to the horses? How can you stand the noise? And where do you find this stuff called gasoline? People thought to be in the know said cars would go nowhere. But carriage makers kept tinkering with engines and soon there were dozens, even hundreds of automobile manufacturers. As strange as it may sound, today the landscape looks similar for electric cars.
Sure, there are big, mainstream car companies like Nissan, BMW and Mitsubishi are preparing to roll out new electric cars. But many small companies like Wheego, Commuter Cars, Zenn and Zap have been turning them out for years. Some to these cars are so-called low-speed vehicles that are like glorified golf carts. But others are as highway-worthy as conventional cars. The Commuter Cars Tango, a narrow two-seater, accelerates quickly and can top 100 mph. But at more than $100,000 it is an impractical budget breaker for most car shoppers.
Still, advances made by the electric-car cottage industry have helped push mainstream carmakers into the market. If small carmakers can find buyers for their quirky electrics, there should be a bigger market for established car companies that can pour more resources into design and technology, and also afford to sell the cars at more competitive prices.
Wheego accepts reservations for America’s first “affordable all-electric car”
From Energy-Overviews.com, June 17, 2010
Atlanta, Georgia-based Wheego is taking $100 reservations for the all-electric Wheego Whip LiFe car on the company website. The highway-ready Whip LiFe can travel about 100 miles per charge, and retails for $32,995 — which drops to a sticker price of $25,495 once the federal tax credit is applied. Other states, including California and Georgia, are offering tax credits and rebates to drop the price further.
“We are on schedule to be the first company to offer an affordable all-electric car in the US,” said Wheego CEO Mike McQuary. “Other auto companies have made announcements of the upcoming availability of their electric cars, but for the most part, their cars are being released in only a few cities, and in limited quantities. Our Wheego Whip LiFe will ship to customers first-come, first-served across the US beginning in September, and everyone who makes a reservation will be driving their car before the end of the year. The Whip LiFe has a lithium battery pack, is made of 75% US content, and is assembled in Ontario, California. It is an example of American ingenuity at its finest.” (Source: PR Web, June 15, 2010)
Affordable Electric Car Hits Market
By Susanna Capelouto for Georgia Public Broadcasting, June 16, 2010
ATLANTA —
An electric car company headquartered in Georgia is taking reservations for its new 2-seater known as the Wheego. It retails for about $33,000 dollars but with federal and state tax credits the price would go down to about $20,000.
The company has had a slower version of the car available since October, but this new edition is much faster says spokesperson Susan Nicholson.
“This is the one everyone has been waiting for,” she says. “This is the highway version. It will go on the highway at 65 miles an hour and up to 100 miles on a single charge.”
Nicholson admits that the Wheego won’t replace the family car, but says it would work for commuters.
People can now reserve a model that will be shipped in September. Wheego officials say they are the first company in the U.S. to offer an affordable electric car all accross the country.
Yugo? No. Wheego.
by Gwynedd Stuart for Creative Loafing Atlanta, Jun 16, 2010
The Wheego electric car is officially on the market, and not a minute too soon. As the BP disaster continues to wreak havok in the Gulf, the Atlanta-based company is taking orders for the 2011 Whip, a lithium battery-charged micro-machine of a car that can get drivers about 100 miles per charge.
I’m going to be honest: I’ve never completely understood the electric car. What do you do, just plug it into the wall like a really big toaster? Yup. Wouldn’t your electric bill go through the roof if you’re forever plugging in a giant toaster car? Apparently, not.
Wheego’s PR person Susan Nicholson was kind enough to ’splain these things to me and without treating me like a dummy. Nicholson says the Wheego Whip can, in fact, be plugged into a regular old outlet, but charging the battery would take a really long time. Instead, it’s recommended that Wheego owners install upgraded 220V/240V outlets in their garages, like the ones a dryer plugs into. Plugged into one of these outlets, it takes about five hours for a battery to charge from half full to full.
She also said that Wheego owners wouldn’t likely notice some insane increase in their monthly electric bill, comparing the car to “any other appliance.” Basically, the 115 volt battery holds 30 kilowatt hours of power and electric companies charge per kilowatt. According to Georgia Power’s Residential Service Schedule, the first 650 kilowatts homeowners use each month set them back 4.5991 cents each (the more kilowatts you use each month, the cheaper they get). So, if I’m not totally botching this math, plugging in a Wheego costs about $1.38 per 100 miles. Hell of a lot cheaper than a fill up.
Hate to be a Negative Nancy, but I can’t help but wonder: If electric cars catch on, how many more nuclear power plants will be required to keep ‘em charged? Discuss amongst yourselves.
Wheego Starts Taking LiFe EV Reservations
by Pure Green Cars, June 16, 2010
The Wheego Whip LiFe qualifies for a $7,500 Federal tax credit, dropping the net price to under $26,000. States such as California and Georgia offer State tax credits or rebates up to $5,000 to further reduce the net price of the car. In addition, Congress has legislation pending that proposes an additional $2,000 electric vehicle incentive.
Power comes from the 30 kWh pack that uses 36 (3.2V) cells at 260AH, which is enough for 100-mile range and a top speed of 65 mph to speed for the Wheego Whip LiFe.
The new Wheego Whip LiFe comes fully-equipped with driver and passenger airbags, anti-lock brakes, air conditioning, and power windows and locks. The 115V lithium battery pack can be charged from a standard 120V outlet, a 240V outlet or any of the J1772 standard charging stations. It is available in red, white, blue, black, silver, and green.
“We are on schedule to be the first company to offer an affordable all-electric car in the U.S.,” announced Wheego CEO Mike McQuary. “Other auto companies have made announcements of the upcoming availability of their electric cars, but for the most part, their cars are being released in only a few cities, and in limited quantities. Our Wheego Whip LiFe will ship to customers first-come, first-served across the U.S. beginning in September, and everyone who makes a reservation will be driving their car before the end of the year. The Whip LiFe has a lithium battery pack, is made of 75% U.S. content, and is assembled in Ontario, California. It is an example of American ingenuity at its finest.”
Atlanta company’s electric cars on sale
Story by Dan Chapman available on Atlanta Journal-Constitution website. June 16, 2010
Reserve Your Wheego Whip LiFe Today
By Melissa Hincha-Ownby for Mother Nature Network, June 14, 2010
