The Tesla. It’s the talk of Wall Street and Main Street. A Bloomberg.com article posted June 7, 2016 predicts: “Tesla Will Become a $700 Billion Gorilla, Top Investor Suggests“.
Government subsidies have made many men and women overnight millionaires and billionaires. Musk is of this category. According to the LA Times, the federal government ‘feeding trough’ has doled out $4,900,000,000 in subsidies to Mr. Musk’s various enterprises that include electric cars, solar power panels, and spacecraft.
SpaceX has accomplished some amazing feats. The solar power business has yet to become what I would call a successful technology. The jury is still out on the success of his Tesla car business. Investor Ron Baron expects to cash in on the success of the Tesla Model 3 electric car, but let’s not forget the obvious: the Tesla Model 3 does not exist. Anywhere.
What if Elon Musk were to have to compete in a legitimate open market, as do GM, Toyota and Nissan, carmakers that all have delivered successful hybrids and electric car technology. There are actual owners of vehicles made by these three automakers.
There was a genuine Tesla, Nikolai Tesla, a visionary Serbo-Croatian immigrant who came to America to become the singular most important American inventor of all time, past, present and future. Mr. Tesla invented AC power, transformers, AC generators, fluorescent lighting, radio and a host of other technologies that are the bedrock of our way of life. And get this: Nikolai Tesla did what he did without even one government subsidy. Yes, there was a truly successful Tesla, but Tesla motors is not a repeat. My opinion.
General Motors has its genesis in the Chevrolet brand that has a long and successful history of producing cost-effective vehicles, in fact, over 500,000,000 vehicles sold worldwide. I have driven a Chevrolet Volt. It’s a snappy, responsive high-performance vehicle – an overpriced car – but one with four wheels on the ground. Meanwhile, there are no Tesla Model 3’s anywhere in the universe.
Apart from one bankruptcy and a government bailout, General Motors will, in my opinion, outpace all automobile manufacturers in the production and delivery of electric vehicles.
GM learned through the Volt experience how to make cost-effective electric vehicles. GM will be delivering Chevrolet Bolt EV next year. It will be priced as low as $30,000 due to a federal tax credit (Yes, that’s a government subsidy.)
As it is with all present EV technology, the recharge time is HOURS, not minutes. Full recharge time for the Bolt EV is 9 hours. Compare ‘recharge’ time for a hybrid of five minutes at a convenient gas station.
Battery technology advances day by day. If you are content with a 200+ mile range of driving on one charge, and you are in no hurry to recharge the battery, electric vehicles are the thing for you.
Toyota has produced excellent hybrid vehicles and Chevrolet is right behind Toyota with the new Chevrolet Malibu Hybrid that came out this year (2016). Chevrolet learned hybrid technology through its Chevy Volt experiences. The range of the 2016 Malibu Hybrid is far superior and more practical than any electric vehicle. I drive more than 200 miles sometimes in an afternoon.
I predict Chevrolet will dominate the electric car market. I also predict government subsidies and tax incentives will disappear. My reason for saying this is WE AIN’T GOT NO MORE MONEY to dole out. National debt is well over $19 trillion and climbing by the second. Global instability sets the stage for global economic collapse. For economics, I refer you to the Mystery of the Shemitah, “Rich Dad” Robert Kiyosaki’s predictions of economic collapse this year of 2016, and the outlooks of respected investors like Carl Icahn who predict economic events of Biblical proportions.
Meanwhile, I go on living, calling on customers, looking for new opportunities and I have my hope in God, not Wall Street.