Telsa is one of my favorite stocks to look at, and analyze, and try to predict where it will move after Elon tweets something. I like Tesla cars and the idea behind the company and their cars, but I don’t trust their stock. TSLA is too volatile, it moves in either direction quickly with each Elon Musk’s tweet.
However, the idea is great. Electric engine seems to be the future, and more manufacturers are upgrading their lineup with electric models. Including high priced brands like BMW, Mercedes and so on.
Tesla was first a pioneer in this trend, and it has a strong momentum with the fan base, and production. The demand is higher than the supply. Elon is trying to increase the supply while cutting quality and options on their cars.
It will take time for other manufacturers to catch up with Tesla. But, Tesla might lose a huge share of the electric car market when other manufacturers streamline their production.
Problem with electric vehicle in my opinion is it’s range, the time it takes to charge and not enough charging stations. Charging stations issue is easy to solve, just install more of them, but with time it takes to charge there is nothing you can do at this time. Range is also an issue, I’d love to own a car that drives for 1000 miles with one charge. Another issue is the battery of course, the replacement battery is $8000, granted a lot of Teslas have more than 100k on them with the original battery, but to me it’s a hefty bill to replace a battery. Tesla has a warranty of 5 years or 60000 miles.
I am waiting for a breakthrough in technology, a light weight battery pack that lets me travel more than 1000 miles until next charge.
What I like about the engine and the car. The noise level, the 0-60 performance, unique design.
Not running out to buy one right now, but pretty sure the electric vehicle will be in my future someday.