When Tesla Motors (TSLA) investors look at the future, most like what they see. Not only is the company in the capable hands of CEO Elon Musk, but there is no denying the fact that the popularity of electric vehicles has continued to rise with each passing year.
With an exclusive focus on the electric vehicle market, Tesla is able to clearly define its goals while showing consumers its vision for the future. This is more challenging for companies, such as Nissan, that want to become more involved in the EV space, but worry about losing steam in the gasoline-powered market as a trade-off.
California Leading the Charge
Leaders in all 50 states are well aware of the importance of electric vehicle use as a means of fighting against climate change.
California, however, is taking the initiative by rushing its statewide plans. Governor Jerry Brown has set the goal of having 1.5 million zero-emission vehicles in the state over the next 10 years.
While this may seem like a lofty goal, it’s not so unreasonable when you look at the current numbers.
According to Automotive News, there were more than 700,00 hybrid cars in the state in 2013. That number is a big jump from the 337,00 in 2009. Furthermore, the state’s Department of Motor Vehicles noted that almost 61,000 EVs were registered as of the last day of August 2013.
Where does Tesla Fit In?
At this time, Tesla is known as the leader in the electric vehicle market. And that dominant position is not lost on the Governor. In a recent interview with Bloomberg News, Brown said, “California is the No. 1 buyer of Tesla and every other electric car.”
Its strong position in California is beneficial for the company, and not just because it is one of the “greenest” states in the country. TSLA has had some issues breaking into other big-market states, so its success in a state as large as California helps counterbalance some of those losses.
Governor Jerry Brown has a big vision for the future, and with the help of Tesla and its growing lineup of vehicles, the state may be able to reach its goals soon enough.
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As of this writing, Chris Bibey did not hold a position in any of the aforementioned securities.
