Tesla's CEO: Half of cars will be electric in 15 years

Tesla's CEO: Half of cars will be electric in 15 years

In the midst of the Tesla Model S rollout at the company's California manufacturing plant recently, Tesla CEO Elon Musk made a startling prediction: "In 20 years more than half of new cars manufactured will be fully electric," he said, according to a Reuters article. "I actually feel quite safe in that bet. That's a bet I will put money on."

That's a strong statement, but Musk apparently didn't think it was strong enough, so he quickly amended it. "It's probably going to be in the 12- to 15-year time frame," he added.

For those who closely follow the electric car business, that's a stunning prognostication, to put it kindly. Today, fully electric cars are few and their sales are poor. By 2020, Lux Research Inc. projects that "less than a percent" of new vehicles will be fully electric. Pike Research is slightly more charitable, saying they believe it could hit 1 percent. "If you look 10 years past 2020, is it going to gain another 49 percent?" asks Dave Hurst, senior analyst for Pike Research. "It's unlikely."

Tesla CEO Elon Musk expects half of cars to be electric in 15 years, despite the long odds against it.
(Source: http://www.revengeoftheelectriccar.com/)

TAG:Tesla CEO Cars Electric