Tesla Motors Inc (TSLA), General Motors Company (GM): Electric Vehicles Are Speeding Forward

Speaking of Tesla, its founder Elon Musk tweeted on Thursday that the company would be announcing a new strategy on Friday. His exact words were, “Announcement of new @TeslaMotors strategy tomorrow. Tesla Motors Inc (NASDAQ:TSLA) owners will like this.” Wall Street got all twitterpated, and Tesla shares were up more than 3% at Thursday’s closing.

Ali Izadi-Najafabadi, senior advanced transport analyst at BNEF, said Tesla Motors Inc (NASDAQ:TSLA) had built its brand value and customer base by making “cool” cars, irrespective of their EV qualities. Be that as it may, he was enthusiastic about the EV space, in general. He noted that, as we change vehicles’ drivetrain, we get more optionality on the fuel side, paving the way for new approaches like Tesla’s.

Tesla Motors Inc (NASDAQ:TSLA) has a partnership with SolarCity Corp (NASDAQ:SCTY) — another Elon Musk vehicle — to provide Tesla drivers with solar-fueled battery-recharging stations. As I said above, EVs are complementary to renewable-energy deployment, particularly solar. In the new energy ecosystem, such partnerships will be critical to ongoing resilience.

Watch the EV space, folks, and consider getting some skin in the game. A lot of smart people think this is just the beginning for a very promising space.

The article Electric Vehicles Speed Ahead originally appeared on Fool.com.

Sara Murphy has no position in any stocks mentioned. Follow her on Twitter at @SMurphSmiles. The Motley Fool recommends Cisco Systems, General Motors, and Tesla Motors . The Motley Fool owns shares of Tesla Motors.

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