The Tesla stock has been – until September – a Wall Street darling, never mind that S&P had taken a decidedly contrarian view by slapping Tesla’s debt with a junk rating. When S&P did that, the rating agency figured “that the company is less likely to successfully adapt to competitive and technological displacement risks over the medium to long term.”
Translation: Should EVs ever become the huge business Tesla stockholders hope it will be one day, it will take established carmakers all but five minutes to put upstart Tesla in its place, and out of business. The jury is still out on the huge business, but established automakers are already working on the putting out of business part.
The usually well informed German Manager Magazin writes today that Mercedes, Porsche, and Audi are working on cars with decidedly Tesla-fighting specs, namely high-end, and with a beefy battery that provides a range of over 400 km (250 miles). Says the report:
- The battery-operated Porsche will be a smaller version of the Panamera. To be sold in 2018.
- The E-Mercedes needs a new platform strong enough for the heavy battery. That slows it market launch down to a release after 2021.
- Audi is working on an electrified crossover positioned against Tesla’s Model X. Will go on sale in 2017