NYT journalist Bret Stephens has written a column attacking Elon Musk as “the Donald Trump of Silicon Valley”. Musk, whose 27% share of Tesla stock is currently worth $13.2bn, can look after himself. Perhaps Stephens has friends in the dispirited coterie of Tesla bears who need a helping hand?
What interests me is Stephens’ undocumented attack on Tesla’s main product, electric cars.
Tesla, by contrast, today is a terrible idea with a brilliant leader. The terrible idea is that electric cars are the wave of the future, at least for the mass market. Gasoline has advantages in energy density, cost, infrastructure and transportability that electricity doesn’t and won’t for decades. […] Electric vehicles were supposed to be the car of the future because we were running out of oil — until we weren’t.
Set aside the easily checked fact that governments do not subsidise electric cars because they worry the world is running out of oil, but because of climate change and urban air pollution – plus a good dose of energy independence, as in China and India. Let’s see how electric cars have actually been selling. A chart from the IEA:
Source: IEA, Global EV Outlook 2017, data in Tables 4-6