One small step for Tesla, one large step for the Canadian electric vehicle market.
The car company has managed to make headlines again with more good news for consumers. An article from the Financial Post reports that Tesla has opened their first supercharger stations in Ontario – Toronto and Cornwall – with plans to open a network of supercharger stations from Windsor, ON to Montreal, from Montreal to Quebec City, and even Vancouver, BC to Whistler. They’ve also finally decided to put their gigafactory in Nevada just outside of Reno with plans to employ about 6,500 people. But analysts are skeptical about Elon Musk’s fantasies of mass-producing their electric vehicles. They say,
“The gigafactory will only modestly reduce battery costs and create ‘significant overcapacity, given likely sales of less than half the targeted 500,000.’ Tesla will only sell 240,000 cars in 2020, ‘leading to razor-thin margins to Panasonic and 57% overcapacity”
That almost sounds like a challenge to Elon Musk and his company’s ability to deliver on what they’re promising. With Tesla’s persistent successes, it’s hard to decide which side to cheer for but that only means we’ll be watching more closely than ever before.
Thinking of going electric? Let me know at @signaturemark!