Tesla is the number one brand when it comes to electric cars. They’re sleek, sexy and the brand has that special thing that, for example, Apple had; an eccentric, loved and admired CEO. Elon Musk today’s entrepreneur. The guy who promises to invent intercontinental air travel from Europe to the United States in approximately 30 minutes and is even aiming to take us to Mars and back.
And (some of) the numbers are backing Tesla’s momentum. Earlier this year, Fortune Magazine reported that “record deliveries helped Tesla boost its revenue to $2.7 billion in the first quarter of 2017, but a net loss net widened to $330.3 million from $282.3 million a year earlier, largely driven by its SolarCity acquisition.” But there are also other less positive numbers; “customer deposits fell 7% in the first quarter, which could suggest interest in Tesla’s current product line, the Model S and Model X, is decreasing.”
But there will also be other (potential) threats to the company. Known brands like Mercedes, BMW, and Volkswagen are all investing heavily in electric vehicles, and those guys aren’t messing around. Mercedes, for example, will pour $1 billion in a US factory to start building electric sport-utility vehicles in 2020, and with that, they will be the first official Tesla rival. And Musk can be a genius all the way, but 100 years of Mercedes quality is unbeatable for the young Teslas.
And then there is this other sexy brand, that is beloved all over the world for its high quality, high performance, and high legacy cars. Porsche has also set its mind on electricity and will produce an electric vehicle even sooner than the 2020 Mercedes. They call it the Porsche Mission E, and it will hit the streets somewhere in 2019. At $90.000, it will cost approximately the same as a Tesla Model S, and yes, that’s a big problem for Musk. On the other hand, Musk did once say he just hoped his Tesla project would kickstart the broad spectrum production of electronic vehicles, and he just might have that off.
The Porsche Mission E is a beautiful machine, has 600 break-horsepower, a top speed of 240 km/h, and will do 0-100 km/h in 3.5 seconds. But, although amazing, those numbers aren’t even the reason why this Porsche can eat up the Tesla Model S. The Porsche really shines when it comes to charging. The concept can charge itself on a plate in the garage, like a smartphone really, and here comes the truly exciting part; Porsche is working on a charging mechanism that will charge the battery up to 80% in just 15 minutes! Fully charged the car will last approximately 500 kilometres, which is about 100 kilometres more than the Tesla Model S (75 kWh). And of course it’s Porsche we’re talking about, so the quality of the Mission E will be unparalleled.
So, exciting times ahead for fans of sexy electric vehicles, maybe less so for Tesla investors. Let’s see what happens.