Tesla Has Competition

By Gage [Public domain], via Wikimedia Commons

By Gage [Public domain], via Wikimedia Commons

By Ajzh2074 (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

By Ajzh2074 (Own work) [CC BY-SA 3.0 (http:// creativecommons.org/ licenses/by-sa/3.0)], via Wikimedia Commons

by,

Suzanne Coleman

It will be interesting to see what will happen to Tesla (TSLA) stock on Monday with the news that GM will be producing a 200 mile-range mass-market vehicle in around 2017.  This is in direct competition with Tesla’s plans for their mass-market vehicle.  Tesla did recently report though that they will have extended the potential range of their newer vehicles to up to 400 miles per charge which might help to mitigate the negative impact that this news will have on Tesla’s stock.

Interestingly though, I think this is great news for Tesla, or more accurately, its owner Elon Musk.  As a fellow idealist, he has said that his goals are to spread the implementation of electric vehicle technology in order to decrease the negative impact of vehicle use on the environment.  He has openly shared his designs for efficient electric vehicles to prove that he is truly interested in seeing this change occur, whether it is his company alone, or his along with others, that bring it to fruition.  And as such, he might just react positively to this news, and not negatively as one might expect.

 

What do YOU think?  Add your comments to the discussion.

 

 

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