Tesla, Inc. Elton Musk, CEO (formerly Tesla Motors) said that going forward, solar and wind parks will be able to store the energy generated by the sun when the sun is not shining or the wind is not blowing. I can deliver food. A new type of battery is switched on or the wind is blowing. He is encouraged by the willingness of the market and the willingness of public policy to explore alternative sources of energy. Musk and his team say that small sedan owners who travel 15,000 miles per year spend an average of $ 6,957 on gasoline. In contrast, electric vehicle owners with the same annual mileage spend $ 540 USD.
In addition, maintenance costs for electric vehicles are 35% lower than for gasoline vehicles. According to this analysis, electric vehicles have become economically viable. The Chevrolet Bolt competes directly with Tesla. Other potentially competing electric vehicles are being developed. Tesla (TSLA stock price) currently has its own high-end market. The advantage of electric vehicles over cars with gasoline engines is the lack of drive shafts. This enables a more spacious interior. Musk is from South Africa and studied economics and physics at the university. He is the co-founder, CEO, and product architect of Tesla, SpaceX founder. The founder of X.com named PayPal after the merger with Confinity.
The expectation from GigaFactory?
By 2020, GigaFactory will achieve a battery capacity that can be used not only for cars but also for fixed storage, improve the reliability of the transmission network, reduce the energy cost of businesses and households and the power supply of emergency. Tesla estimates that when fully operational in 2020, factories can cut battery costs by up to 30%. The hyperloop record at Tesla is about 500 miles, but the official range of the Tesla Model S is about 500 miles.
According to the Environmental Protection Agency’s assessment, it’s about 265 miles on a single charge. According to Musk, Tesla will likely be able to build a car that can go 745 miles on a single charge by 2020. Musk believes future electric vehicles are likely to rely on supercapacitors rather than batteries. Supercapacitors store energy like batteries, but they store much more efficiently the large amount of energy needed for non-mechanical braking and acceleration. For these reasons, investors are bullish on the stock and expect that Tesla stock can reach to $ 3000 till 2025. However, any big research and development failure can drag the Tesla stock price all of a sudden. If you want to know more about Tesla, you can check TSLA news.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.