8 years ago
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Electric car industry to 'suffer' from cheap oil, Elon Musk says
Plunging oil prices are set to hit the electric car industry hard, but Tesla vehicles won't be the worst affected, says CEO Elon Musk. "[The] industry as a whole, I think, will definitely suffer from lower oil prices," Musk told CNN's Kristie Lu Stout on Monday. "It just makes economic sense." The drop in the cost of fuel has already filtered through into the U.S. auto market, where sales of gas-guzzling pickups and SUVs rose last year. Oil has continued its steep...
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It is too late to stop the EV revolution but this may slow it a bit.
It is kind of a one two punch here, not only is gas now cheaper, but the EV industry has seen their state tax incentives go from most generous around to non-existant and on top of that a yearly fee of 200-300 USD to make up for the fact EVs don't pay gas taxes.