Electric Cars: Will Any Auto Company Make Money?

Iowa Climate Science Education's avatarIowa Climate Science Education

By Steve Goreham

Republished with the permission of The Washington Times

Tesla reported second quarter results earlier this month. Despite losing $718 million during the quarter, Tesla shares rose 16 percent on renewed promises of profitability. Driven by government incentives and mandates, world automakers have announced big electric car introduction plans. But will any electric car firm be able to make money?

Start-up automobile companies face long odds. Over the last ten years, Tesla posted cumulative losses of over $3 billion. In the second quarter, Tesla began to ramp production of its new Model 3 sedan, producing more than 50,000 cars. Tesla also promises to attain profitability in the near future, but the firm is about to face rapidly growing electric car competition.

World auto makers have not only embraced electric cars, but now appear to be competing to introduce the most electric models. More than 400 fully electric or…

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