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Tesla CEO of oil prices will slow electric cars; China Charted Course.
Tesla Motors CEO TSLA Elon Musk spoke China in Hong Kong on Tuesday in order to sell more electric cars in both places and build a plant on the mainland, but he sees the low price of oil - and gas - interest evil in electric cars.
fluctuating oil around $ 30 a barrel, down more than 60 from the summer of 2014, and the average regular gasoline only one gallon January 82 U S changes the game for car buyers.
There is no doubt the transition to a sustainable energy more difficult, Musk said when asked about the oil falls to a risk of forum Hong Kong I think without a doubt that this will curb interest in electric vehicles in general that we aspire to do is to make the car so convincing that even with low gas prices, it is the car you want to buy.
From about 70,000, the Tesla Model S sedan and a newer model crossover SUV X aren t as these sensitive purchases gas prices as electricity not luxury hybrids, such as General Motors GM Chevrolet Volt, Nissan NSANY sheet or TM Toyota Prius popular line.
Billed as a serial entrepreneur, Musk spoke in conversation by the fire with CNN International anchor Kristie Lu Stout government StartmeupHK Festival InvestHK China Group is the largest car market in the world, an electric vehicle market growing and the world's biggest carbon emitter, Stout said, noting high levels of pollution in cities such as Beijing.
China needs your technology - is China really aware of it, you get the sense she asked Musk.
China is certainly aware of Tesla - I had a number of high-level meetings with the Chinese government, and in fact the finance minister recently mentioned Tesla in a speech he gave as an example he likes what we do, Musk said, and then last year in an effort to help the rest of the industry and the type of being a good neighbor, we open our patents internalized So any company in China or elsewhere can use our patents to create electric vehicles.
Kandi Technologies Group KNDI, a Chinese manufacturer EV has a license to produce luxury electric vehicles and should become a rival Tesla and other at some point.
With slower economic growth, but large potential market, China is a wild card for Tesla is already the largest automaker market outside the US of those he explodes, despite initial sales efforts bumpy .
I think the challenge for Tesla in China is that we must establish a kind of local partnership, so we have to understand this, Musk said in the chat by the fire Tuesday.
The news agency controlled by the state Xinhua said in December that sales of electric vehicles in China for 2015 were estimated at 220.000 to 250.000, against 180,000 electric vehicles in the U S according to Reuters.
Hong Kong has been a bright spot for Tesla, Musk's opinion.
At Tesla we are super grateful Hong Kong is the city with, I think, at this stage, the more Teslas per capita, Musk told the event InvestHK I think Hong Kong will have the time the highest percentage of electric vehicles all cities in the world, and it can be a model for other high-density cities in the world can turn to a sustainable future for transport.
Urban areas are unique for electric car owners, Musk said, noting that obtaining apartments with chargers buildings can be a different challenge of upgrading just a house.
Engadget in Musk Monday quoted the report saying that the company is doing quite well in mainland China The report also says Musk aims to lock plans to manufacture vehicles in China to find a local partner and location for its plant mid-year.
The South China Morning Post, based in Hong Kong, reported that Tesla expects Hong Kong to be the world leader in the adoption of electric vehicles, after 207 enrollment growth in the city last year, with the accounting model S for more than 70 all-electric vehicles on the road in Hong Kong According to the report, citing data from the environmental protection department of the city, at the end of 2015 Hong Kong 4198 electric vehicles on the road, against only 100 at the end of 2010.
Tesla Monday secured its fourth quarter 2015 earnings report on February 10 after market close The company delivered 17,192 of its flagship model S sedan in its fourth quarter, up from about 75 a year ago, and 208 SUV model X, it reported Jan. 3 in a filing with the Securities and Exchange Commission.
Analysts polled by Thomson Reuters expect earnings of 10 cents against a loss of 13 cents in Q4 2014, with turnover about 1 8 billion to 64.
Tesla stock fell Monday of 3 1 Place a down day for stocks affected by lower oil prices on the stock market closed today Tesla 1 4-193 56, while the major indexes rose more from 1.
Tesla is not very popular with IBD at the time, with a rating of 35 on a 99 Composite possible.
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