RecentTeslanews has focused on the electric vehicle manufacturer’s change inmodel naming conventionsand the upcomingModel Y. January is also an earnings statement month for Palo Alto, California-based Tesla, however, and the company released itsfourth-quarter 2018 statementthis week. As it did in the previous quarter, the EV company reported a profit for the final 2018 period.
The fact that Tesla strung together two consecutive profitable quarters bodes well not only for the car company but also for the full field of electric vehicle manufacturers now and in the near future.
Tesla’s success as a domestic and, with an upcoming factory in China, soon-to-be global automobile manufacturer makes it the flag bearer for all-electric vehicles. Virtually all other major manufacturers have committed to E -production, but that hasn’t stopped them from hedging their bets.
Just yesterday, for example, Volkswagen stated that its diesel cars are recovering sales stalled by the Dieselgate scandal.CNN quotedVolkswagen board member Jürgen Stackmann saying that diesel engines will “remain an important technology for years to come.” This statement comes from a company that last Octoberstatedits intention to use the new MEB EV architecture in up to 50 new electric models.
If Tesla were to fail, the effect on the overall electric vehicle industry would be to slow it down as the boards of directors and investors in other companies would likely refocus on short-term profits. As Tesla thrives, however, the pressure remains and even increases for global automotive manufacturers to continue long-tail EV development programs.
Focusing not on dollars and cents, but on factors that directly affect how soon more of us will be driving electric vehicles with or without the Tesla nameplate, here are highlights from Tesla’s 2018 fourth quarter report:
