The Tesla brand is the most powerful brand in the automotive industry, and its dominance is driving a massive surge in the number of electric cars on the road.
In the first quarter of this year, the company announced it had sold 2.2 million of its Model 3, a model that, if it sells as well as its previous Model S and Model X sales, could represent the fastest growth in electric vehicle sales since the early 1990s.
“We have seen a tremendous surge in demand,” Tesla CEO Elon Musk told investors in December, “and we’re doing everything we can to capitalize on that demand.”
The company’s Model 3 and its sibling, the Model S, are the best-selling electric vehicles ever, and with a $35,000 base price and a range of 250 miles, the Tesla Roadster is the only EV on the market that offers all-electric driving.
The company says that in 2018 alone, it will sell about 200,000 Model 3s and 500,000 Roadsters.
By contrast, the Chevy Volt, which the company recently introduced, only has a range that’s less than a quarter mile.
The new electric cars are more affordable and offer better range than their gas-powered predecessors, but they’re still not quite as fast or as capable as the gasoline-powered vehicles that powered the early 1980s and 1990s car boom.
In fact, the two vehicles are so different, that Musk has compared the Model 3 to the Model X, an SUV.
“The Model 3 is a vehicle that is essentially a high-end SUV with more range and acceleration,” Musk told analysts in December.
“But the Model Y is a very high-performance, electric car that you can actually get for a little bit less than $100,000.”
So what’s going on?
A new generation of electric vehicles is on the horizon, and it looks like they will be much faster and more capable than the gas-guzzling Roadsters and Volts.
Tesla, for example, is working on an electric version of the Nissan LEAF, a compact SUV that will be available in 2021.
And if you believe Musk’s claims, the next generation of EVs will have much higher ranges than the cars they replace.
“I’m very confident that we will be able to make a new car that is faster and much more capable, and that will sell better than anything that came before it,” Musk said at a conference in January.
“You will see a lot of these new cars that will come from our new factory, and we will start shipping them in 2021.”
So why aren’t there more Tesla Roadsters?
There are a few reasons.
The first is that, like the Model 7, the Roadster and Model Y, Tesla’s goal with its new vehicles is to make them easy to drive.
“There is a reason that I was the first person to make the car in the US, and the reason that the next person to do it was me,” Musk says.
“To be the first carmaker to make an SUV that’s as good as a car is just a great accomplishment.”
But there are also a few other factors at play.
Tesla has a history of making high-volume cars with limited battery range, and Musk believes that if it wants to keep its electric cars competitive, it has to invest in more powertrain upgrades.
“It’s important for us to be able go to market with more battery capacity than we currently have,” he told investors at the time.
“If you look at the history of EVs, the batteries have generally had to be very expensive to make, and now it’s really expensive to build them.
So we’re going to have to invest a lot more in the battery.”
Tesla has been working on a few more battery packs for its vehicles.
In a conference call in January, Musk announced plans to produce at least three new batteries, including a smaller one that will power a Model 3.
But this battery pack could be a bit of a stretch, given the Tesla Model S battery packs are only available as a premium option on the Model 2, which launched in 2004.
So, will Tesla have to buy new batteries?
Musk isn’t quite sure.
“They have to have batteries in the pipeline that we’re building,” he said in January when asked about the question.
“That’s really important.
But it’s going to be quite a while before we get to that point. “
So, if they do buy a lot, we’ll be able get them out quickly.
They’re going be a lot bigger than the batteries they’re using now, so it’s not going be cheap to build the batteries. “
Because the batteries that they’re building are going to cost us a lot.
In the end, the battery cost is going to come down a lot because they’re