Tesla Motors Inc (TSLA): Revolutionizing The Auto Industry
Kyle Anderson: Tesla Motors Inc (NASDAQ:TSLA) stock has seen a meteoric rise of more than 770% in the last two years as more electric vehicles (EVs) hit the road every day.
And even though TSLA stock trades near all-time highs of $265 per share, evidence suggests that TSLA still has room to run long-term – because the EV market is growing rapidly…
Hybrid vehicles (electric and gas powered) became popular in Japan in the late 1990s when Toyota Motor Corp.(NYSE ADR: TM) and Honda Motor Co. Ltd. (NYSE ADR: HMC) both introduced their first models. The cars would grow in popularity throughout the 2000s in the United States as gas prices rose and consumers became more environmentally conscious.
By the end of 2013, the world’s largest hybrid maker, Toyota, had sold more than 6 million hybrids globally. More than 4.2 million Toyota Priuses alone have been purchased worldwide through 2013.
And while hybrid vehicles were a major step forward, the introduction of 100% electric vehicles is truly revolutionizing the industry.
The biggest key to that revolution so far has been Tesla Motors.
Tesla unveiled the “Roadster” in 2008, but the company sold just 2,250 vehicles over the next four years. While sales were weak, the Roadster paved the way for the Model S sedan.
“Big-name manufacturers such as Honda, Toyota, and others replaced gas tanks with batteries as demand began to rise [in the 2000s],” Money Morning‘s Global Energy Strategist Dr. Kent Moors said. “But it would be a real-world Tony Stark, billionaire Elon Musk, who would dazzle the world with the polished, luxurious Tesla, an advanced electric vehicle with a range of up to 300 miles on a single charge, who added sizzle and sex appeal to the industry.”