Confidence should not be confused with arrogance.
Although he does possess some of that genius nerd contempt for us “regular folks,” I don’t think Elon Musk is particularly arrogant. He’s just confident.
Arrogance is the Wall Street nimrod I met in 2007 who once tried to impress me by taking me out for lunch and barking orders at the waitresses as if they were his personal slaves.
Confidence is having the balls to start an electric car company at the height of the Great Recession while every major car exec is mocking you instead of encouraging innovation.
Of course, Elon Musk’s confidence continues to be one of his greatest attributes, even in the face of continued pessimism and vitriol.
Last week we got a taste of that after Musk announced that Tesla (NASDAQ: TSLA) had made an offer to acquire SolarCity (NASDAQ: SCTY) for $2.8 billion. Within 30 minutes of that announcement, all kinds of analysts were crawling out of their roach motels denouncing the deal and telling the world that this could be the end for Tesla.
How they could figure that out in less than an hour is beyond me.
In any event, and as I said last week, none of these guys are smarter than Elon Musk, so perhaps we should just wait and see how this pans out. Chances are, just like everything else this guy touches, the deal will be another brilliant decision.
Of course, Musk’s confident vision never seems to remain stagnant. In fact, not long after the proposed Tesla/SolarCity deal was announced, reports started coming out about a major expansion of Tesla’s Superchargers.
Tesla Proliferates
First there was the rumor that Tesla was looking to install Superchargers at Sheetz gas stations. Check out this piece from Forbes:
It’s only a matter of time until electric chargers are as ubiquitous as gas stations, and Tesla Motors is laying early groundwork to merge its technology into the mainstream service station economy. But in addition to prime locations on well-traveled roads, it has a few other factors it needs to consider. Namely, it needs to consider how to entertain drivers as they wait to recharge their vehicle’s 70-90kWh battery pack. That could be why Sheetz, a mid-Atlantic chain of gas stations, is one of the first brands Tesla is courting to join its Supercharger network.
Sheetz executives confirmed to the Washington Post that the company has been talking to Tesla about a partnership that would enable the electric car manufacturer to place its proprietary fast charging station at some of its locations. A Tesla spokesperson wrote in an email to me that it is too early to say which brands or stations would receive the Superchargers and when, but indicated that prospective stations would be “conveniently located for long-distance, emission-free travel, and could provide the necessary amenities for our customers.”
Not long after the Sheetz story broke, we got word that Ruby Tuesday was forming a partnership with Tesla to open Supercharger stations at its locations.
There are currently about 700 Ruby Tuesday locations and about 500 Sheetz locations in the U.S.
If Tesla pops in a charging station at every location, we’re looking at roughly 1,200 Supercharger stations. Add the other 655 Supercharger stations currently in operation, and you’re looking at 1,855 Supercharger stations across the nation.
This Tesla charging map is about to get very crowded…
And that’s just North America.
Here’s Asia…
And here’s Europe…
Elon Musk is so confident about the proliferation of electric vehicles that he’s popping in charging stations all over the world. Thousands of them, with thousands more to come!
No matter what you say about Elon Musk, there’s no denying that this guy is very serious about the integration of vehicle electrification. But he’s not the only one.
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A Wider Awakening
Interestingly, it looks like gas stations are starting to get the message about electric vehicle penetration. As the Washington Post reported, the potential partnership between Sheetz and Tesla reflects the beginning of a wider awakening in the gas station and convenience store industry.
While EVs currently account for less than half a percent of new car sales, that figure is expected to grow; Bloomberg New Energy Finance estimates that within six years electric cars will be as affordable as traditional gasoline-powered vehicles. By 2040, roughly 1 in 3 new vehicle sales could be an EV, according to the same Bloomberg report. It’s difficult to predict precisely how quickly EVs may catch on; estimates vary widely depending on the source, and the figures are dependent on fluctuating figures such as the price of gasoline.
The change, in other words, will surely take time. But experts have already begun advising some gas stations to consider laying the groundwork now for EV charging. It’s expensive to dig up concrete to install new fuel tanks or other equipment; so as long as that work is occurring, gas stations should consider installing a power conduit so that they can support electric chargers later, said Jeff Lenard, vice president of strategic industry initiatives at the National Association of Convenience Stores (NACS).
Rumor has it that some gas stations are so worried about the future, they’re practically begging Tesla to install charging stations on their properties.
The Future is Here
To be honest, I don’t expect to have to use these Superchargers much, as I’ll just be charging my Model 3 at home. But I admit that with access to Superchargers along the major highways, I’m very enthusiastic about being able to take longer road trips in my electric car.
The future is here, my friends.
It’s right in front of our faces, ready for us to embrace it and profit from it.
To a new way of life and a new generation of wealth…
Jeff Siegel
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Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.
