The revolution from traditional gasoline-powered vehicles to electric vehicles is creating a buzz and a huge impact nowadays. Does this mean that Tesla's vision of an "all" electric vehicles future is near? Analysts say otherwise.
Tesla Motors Inc. made a history when it announced a new battery upgrade that allows the Tesla Model S with Ludicrous to drive 315 miles on a single charge that surpass the conspicuously weakness of an electric car. It simply shows that electric cars are heading in the right direction much sooner than most people can imagine and anticipate.
And Tesla is hardly alone. Competition among electric vehicles and plug-in hybrids will be intense particularly in lowering its prices. Porsche is working on a Tesla-killer with 300 miles of range in 2019. Audi who is also beginning its production will release its model in 2018. Hyundai Motor Co. promises eight plug-in hybrid models by 2020 with additional two-all electric vehicles. Volkswagen AG and BMW AG has pledged to make every model available as a plug-in hybrid by 2025 while the Toyota Motor Corp's overhaul of the plug-in Prius, boasting twice the range will arrive before the year is out.
"You know, we get lambasted a lot for making expensive cars. But I just want to again reiterate that was never our goal in and of itself. Our goal was always to make great affordable cars. Our goal is to have an "all" electric car world in the near future. We just need a few technology iterations and economies of scale to get there, and nothing would make me happier than to be able to build a great electric car that everyone can afford" - Tesla CEO, Elon Musk said during a conference call with journalists on Tuesday.
As good as it all show in papers and we all wish what electric cars are readily available in the market. But truth to be told there are factors for this technology to be made available. There are businesses that will be affected once this technology is fully embraced by the people. Car industry, petroleum companies are just the few that will be directly affected. In short, we are still clueless what will be the effect of this technology in the economy, and in our lives as general.
Another thing is, how certain are we that we are now ready to embrace this change? For sure it will take time for us to adjust especially if it means additional expenses for us.