Volkswagen shares jumped nearly 90 percent today, on a day that saw a Dow jump of almost 900 points as well.  However, Volkswagen AG was also up 150 percent the previous day.  How?  Porsche announced on Sunday that they had upped their stake in the company to 42.6 percent, and had plans to increase it's holdings to 75% in 2009, but that's not the whole story.

Rumor has it (aka, I heard on CNBC...) that the gigantic run was due in part to hedge funds being short squeezed.  At one point, Volkswagen became not just the most valuable automaker, but the most valuable company on the planet (momentarily besting Exxon Mobil).  The Financial Ninja has covered this story in depth if you're looking for more details.

While this isn't the first time Tesla has axed employees, workers in the Detroit branch were recently laid off via a blog post.  The company finally decided to notify them via other means, but got around to it two days after the people were actually let go.  I can't imagine this will be good for Tesla's image, and it definitely flies in the face of how a company like Ferrari treats their employees.

The final Mercedes McLaren SLR Roadster to be sold in the USA will be going up for auction.  Since it will obviously be sold for a premium, all funds raised over the $529,500 MSRP will be donated to St Jude Children's Research Hospital.  Differentiating this particular SLR Roadster from others is the Sienna Pearl Super Metallic paint, with metallic flakes three times their usual size, the Tabacoo Brown interior, and gold brake calipers.

While this may be the last regular SLR Roadster, the SLR Roadster 772 S will be out January 1st, 2009.

Autoblog just revealed that Ruf has created an electric prototype based on the Porsche 911 (it's pronounced "roof").  Engadget, a technology blog I read every now and then, also covered the story.  If you're a regular reader of this blog, you'll understand why this excites me so much:  more competition for Tesla!  As a bonus, the car is not based on the smaller Cayman as rumored earlier, which coincides with my belief that we need more truly premium electric cars on the market.  It's been said that Ruf's electric 911 will also be a competitor for Fisker's Karma (covered here), and while that's true, I think Ruf is a more established company who will end up drawing in a different type of customer.  That is, assuming it gets built.  Now all they need is a distribution network that beats Tesla's uninspiring showroom.

Try as I might, I simply don't like Tesla.  And believe me, I've tried!  There's just something about the car's tiny dimensions and the company's incomplete showroom that turns me off.

Some may say that the Lexus LS600h or the new Mercedes Benz S-Class hybrid aren't true competitors because they're not 100% electric, but they are premium automobiles in a much truer sense than the Tesla Roadster and for the price, premium is what everyone should be expecting.

The Lexus and Mercedes offerings may not be overly sporting, but the Fisker Karma is.  Now since there's an environmentally friendly sports car coming that's worthy of competing in the premium class, how long can the Tesla hype continue?

As interest in truly premium electric cars continues to rise, another competitor is also coming onto the scene.  The Lightning GT is fully electric, and produces the equivalent of 700bhp!  While it may not ever be sold in North America, it's nonetheless a much better interpretation of what a premium electric sports car should be.  Visit UK MSN Cars for the full story.

Nissan is planning to sell cars that push back on their gas pedals when they feel drivers are speeding up too quickly.  It will be available next year, and I will not be buying a Nissan.  The idea is to increase gas mileage and efficiency, but aren't there already enough people out there who slow down traffic by taking as long as possible to get up to speed?  A special gauge on the dashboard changes color and flashes when drivers aren't accelerating "optimally", but a grille pressed into their bumper by the angry person behind them may prove to be more compelling.  Fortunately, the feature can be turned off.

As I was complaining a few days ago about Tesla, I got thinking about which small car company could one-up them and make a car more like what I had in mind.  My favorite candidate was Fisker, though I figured they'd continue to base their creations on modified Mercedes and BMWs for a long time to come.  However, it turns out that they are indeed building what could loosely be called a competitor, though it's a hybrid and not a 100% electric car.  It's called the Karma and, as Autoblog reports, it will be available in 2009.  With proper dimensions and significantly more style, this is the first "green" sports car I would actually like to be seen in.  As a bonus, Henrik Fisker also penned the Aston Martin DB9; the most beautiful car of all time.

TechCrunch posted a story yesterday announcing Tesla's unveiling of their first showroom.  I have to say I'm not very impressed.  The showroom isn't jaw-dropping; it's bare, and not in an Aston Martin "minimalist luxury" kind of way.  In addition, I'm really disappointed with their first car.  Those in the technological "know" correct the rest of us who say it's simply a rebadged, electrified Lotus Elise, but that's still the concept it's derived from, and the dimensions are almost the same.  I was really hoping for a car that rivalled the Mercedes Benz SL550 or other gas powered convertibles in its price range, but the car doesn't even come close to offering similar features.  In my mind, for hybrids, the Honda Insight was an impractical experiment, the Toyota Prius was a more reasonable experiment with extra seats, and the first solid, respectable example that I would actually buy was the Lexus LS600h.  I can't help but feel that it will take a very long time before the first electric car capable of servicing a properly discriminating customer will ever be built.