Last week I picked up my Tesla Model S. I’m the first to admit this is an expensive car, and most people aren’t going to buy one. And I realize that it will be at least a couple of years before their Gen 3 car (expected at $35k) is going to arrive. In the mean time there are other electric cars on the market that cost less, but have significantly less range. The Nissan Leaf is probably the most common pure electric car out there aside from the Tesla.
Driving electric for one week is more than sufficient to convince me there is absolutely no turning back. Electric cars drive better in every way possible. They accelerate more smoothly and generally faster. They use regenerative braking so you aren’t wearing down your brake pads. They are super quiet. They are UNREAL to drive. My kids love being in the pasenger seat and my wife (the furthest person from being a car entusiast possible) is absolutely in love with this car.
My experience with the Model S so far is amazing. Aside from the awesome drive quality I wake up with a full battery every morning and I set it to charge on off-peak hours (staring at 7pm) so it costs about $10 instead of $65 for the equivalent range in my Lexus SUV which uses gasoline. No extra points for guessing which car stays parked at the house these days.
So for now electric cars cost more, they can’t go quite as far as a gas car (although my 420 km real world range is pretty solid) and they take longer to charge when compared to a gas tank refill.
Costs are coming down. Electrical infrastructure is improving and Tesla’s fast-charging technology is likely to be adopted by others now that they’ve opened up access to their patents. Looking at Tesla’s supercharger network in North America, Europe and Asia convinces me that charging will be a total no brainer in the long run.
As an investor I think beyond this quarter or this year … or even next year. I’m thinking years out. And on that basis it’s 100% obvious to me that the world is moving to electric cars. It’s a complete no brainer.
(Disclosure: I’m long Tesla stock)