One American company has an electric vehicle on the market in the U.S. at an affordable price point and a range similar to any of its competitors.
And then there is Tesla, who is promising the soon-to-be-released Model 3 with all the same specs. Now add in the optimism and excitement surrounding the ‘Tesla vision,’ and Monday morning sees it with a larger market capitalization than General Motors.
Tesla struggled to deliver 80,000 vehicles to market last year – versus over 10 million from GM, seeing its stock trade higher by a little over three per cent this morning and take over the top spot of the most valuable U.S. automaker.
Obviously comparing the two on top or bottom line figures or production numbers simplifies the story, as one is in the camp of a technology disrupter, whereas the other is the traditional auto-manufacturer facing a forecast of slowing global demand.
But it does paint an interesting picture of where this world is headed.