Both automakers have the potential to become the car company of the future.
By Matthew DeBord of The Big Money
The automobile is down—in fact, it probably hasn’t been this far down since the invention of the internal combustion engine. But it’s far from out. True, the industry is getting hammered. There’s real talk of bankruptcy at home, and it’s coming from the Oval Office. But even dire estimates of the coming year in motoring still have carmakers building hundreds of thousands of vehicles each month.
And new players are entering the arena. The big automakers are supposed to be in the business of telling us what we’ll all be driving for the next 50 years, but they’ve had their (greatly diminished) thunder stolen over the past few weeks by radically new visions of how we’ll be getting from A to B. A few weeks ago, Silicon Valley-based startup Tesla Motors finally yanked the cover off its much-anticipated Model S, an all-electric sedan that will, after tax credits, sell for just under $50,000. Earlier, India’s Tata Motors, part of one of the largest manufacturing entities in the world, officially launched its Nano “Peoples’ Car,” which will go for $2,000, making it the planet’s cheapest ride.
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