Now, the question is whether Toyota will have the same magic touch with its fuel-cell initiative that it did with Lexus and Prius.
Musk is far from alone in his skepticism about fuel cells. And he and Tesla—and other automakers that have begun big pushes behind EVs, including BMW and Nissan—have plenty of support in the investment community and elsewhere for the clarity of their future vision of an industry built around electric power. It’ll depend on significant cuts in the price of lithium-ion batteries that power Teslas, a big part of the reason for his “gigafactory” under construction in Nevada.
Meanwhile, other analysts are reckoning with the oil-price decline that continues to disrupt global energy markets as more supplies from the United States and elsewhere wreck the oligopoly that the OPEC countries enjoyed for decades. The auto industry’s biggest vehicles, pickup trucks and large SUVs, are selling like hotcakes again even though some wrote off hulking SUVs several years ago.
Yet some observers believe that oil prices again will rise and that the current softness in gasoline prices will reverse, placing a premium once again on alternative energy sources—whichever ones win out.[/vc_column_text][/vc_column][/vc_row]