This Is Why Elon Musk’s Electric Car Company Is Tanking

17 Dec 2014 by Jasmine Stone in Business, Cars, Economics, Tech/Sci

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Tesla has been on everyone’s lips for months now – the electric powered car from Elon Musk seemed the answer to everything.

But now, thanks to the oil price dropping, so has interest in Tesla dropped.

Cheap oil is a clear argument against electric cars, at least in the short term. Cheap oil is also an argument against hybrids and fuel-cell cars and anything that doesn’t run on gas.

The share price dropped to $195 on Tuesday, the lowest in months, but managed to close on $202 a share.

Check out Business Insider

 

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