German Car Makers Go Big in Electric, Crowding Tesla and Elon Musk

Tesla, the self-appointed visionary for the future of electric vehicles (EVs), has not been having a great year. Recent PR blunders and financial setbacks have taken the shine off the futuristic brand.

CEO Elon Musk’s business leadership skills were put in the spotlight in a series of ill-advised and eccentric publicity stunts. Tesla stock fell by double digits in late 2018 after Musk made startling and misleading statements about Tesla becoming a private company.

Then came some really bad first quarter results and suddenly Musk’s vision of self-driving cars and cheap home solar seemed hopeless pie-in-the-sky.

Now Tesla is finding its status as the EV forerunner being challenged by two European car manufacturers, Mercedes-Benz and Volkswagen.

Both Mercedes-Benz and Volkswagen began taking orders for their own respective EV vehicles capable of long-range travel.

Tesla had made its name and reputation on promising to build an EV future and by outperforming the first industry waves of EVs from its competitors.

The first-generation Tesla Model S operated for about 200 miles between charges while the Ford Focus Electric and Nissan Leaf both offered 100 miles between charges.

Tesla’s latest version of the Model S operates for 370 miles between charges. Yet innovation has not dissuaded competitors from encroaching upon the currently wide-open EV market.

Billions invested

Mercedes-Benz has invested more than $13 billion in its EV models and will introduce the EQC, an EV version the GLC crossover, in the United States in 2020.

The vehicle will feature a battery that can reach 80% capacity in 40 minutes and can operate for 270 miles between charges.

Volkswagen is spending about $10 billion on its EV programs. Its long-range launch model, the ID.3, sold more than 10,000 units online within 24 hours, overwhelming the VW website.

The ID.3 is expected to operate for 260 to 340 miles per charge.

It remains to be seen if Volkswagens and Mercedes-Benz’s EV industry gambits will make them true Tesla killers.

What is certain is that unless Tesla refocuses it operational motivations and PR messages, they may be self-inflicting their own worst damage.

Tesla recently announced that their senior director of communications, Dave Arnold, was leaving the company.

Some financial analysts have also questioned whether Tesla’s current stock share price. After hitting $350 a few months back, it trades at this writing well under $200.

Recommended Articles

Science Says the Perfect Female Body Should Look Like This

Everyone has their own opinion of what the female body should look like. Society and the media often exhibit women that are thin as the ideal womanly figure. This causes

Americans Are More Afraid of Doctor Bills Than They Are of Being Sick

The skyrocketing cost of healthcare has become prohibitive for many Americans. More people seem to be skipping physician visits, and U.S. healthcare costs rose to $10,000 a year per person in

Your Meat Is Treated with Carbon Monoxide to Make It Look Fresh

When you are looking for a nice steak, pork chops or chicken at your grocery store one of the main things you look for is the color of the meat.

Anxiety? 10 Foods You Should Be Eating (and What To Avoid!)

Occasional anxiety is a part of life. You may feel anxious when faced with a problem at work, before making a big change, or deciding on an important decision. But anxiety disorders

5 Gig Economy Tips That Will Help You Succeed

The gig economy has been expanding at a scorching pace, with some surveys indicating that nearly one in three American workers now participate in it, whether part-time or full-time. A

7 Genius Food Tricks You Can Do at Home

Everyone likes to have fun and cook, right? There are many cool hacks and tricks out there nowadays that make kitchen time more fun. Making time in the kitchen more

3 Powerful Ways to Invest in Mexico

Mexico has a rich and deep history that can be traced back thousands of years. The country has tourism hubs in the Caribbean and the Pacific, beautiful colonial towns and

Unclaimed Money: How to Find and Recover Your Lost 401(k) Money

A crisis is looming on the horizon — and it's not the same old story about workers who haven't saved enough. This calamity is affecting would-be retirees who can’t find

7 Profound Personal Finance Practices to Follow

Nearly 57% of American adults have savings of less than $1,000, while 39% have zero savings. Following a few quintessential personal finance practices, however, can help you achieve a healthier

FIRE Your Old Financial Life and Retire Early. Here’s How…

A Chicago flight attendant has hit the news for turning her financial life around. At 39, Bianca DiValerio was nearly broke after a divorce and the sale of several failing

Interview: Rates Will Stay Low, Uber ‘to the Moon’

Don't expect the Federal Reserve to even tap on the brakes anytime soon, says Bob Iaccino, editor of the Stock Think Tank. On Thursday, Fed Chairman Jerome threw cold water

3 Crucial Ways to Keep Your Brain Strong Well into Retirement

For people whose whole life has revolved around using their mind, retirement can be a bind. All of those degrees and awards, the presentation notes, the papers, the grand vision