The rise and rise of Tesla

Just a couple of months ago, Tesla surpassed General Motor’s market value of fifty billion, cementing itself as the most valuable American car maker. Despite this reality, I still presently do not know anyone who drives a Tesla: but these numbers prove they are out there in force. I remember just five years ago when Tesla first started gaining notoriety. Lots of people were excited to hear of an electric car brand, no matter the exorbitant price line, due to growing concerns of global warming coupled with the appeal of an option never offered before. However, I remember just as well as many pessimists claiming that an energy fueled car company is something that could never work in the oil capital that is America.

Today, one can find as reputable a name as Morgan Stanley predicting that electric car sales could make up as much as forty, fifty, or even sixty percent of global light vehicle purchases by 2040. Of course, long term predictions are nearly impossible to make, just think no one even knew of Tesla a decade ago, and this reality is made apparent when comparing Morgan Stanley’s prediction with Exxon’s that energy vehicles will only make up ten percent of new car sales by 2040. Regardless of what the future holds, one thing that’s certain is energy vehicles are here to stay. And in no small part thanks to Tesla.

All this considered, Elon Musk’s, founder and owner of Tesla, decision to abandon two of Trump’s business advisory councils in lieu of Trump’s secession from the Paris climate agreement is an interesting development. Cooperation between oil and gas as well as electric energy interests I believe will yield the most productive outcome for everyone, but after Musk’s immediate departure from Trump’s councils I fear cooperation may be the last things these specific parties have in mind. But what do you think? Is Tesla facing a bright new future or more troubling roads ahead? Maybe cooperation between these interests is not necessary at all to provide the best outcome. Let your opinion be heard in the comments below.

Written by: Chris Stomberg

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