Apparently the German Minister of Economic Affairs reads our blog. In a recent meeting with the leading German automakers, he said (here is the link: https://electrek.co/2018/11/19/electric-car-half-sexy-tesla-german-automakers/)
“I really wonder when you, Mr. Zetsche (Mercedes), or you, Mr. Diess (Volkswagen), or Mr. Krüger of BMW will be able to get an electric car build, which is only half as sexy as one by Tesla. As far as the attractiveness of your e-cars is concerned, you could actually come up with some fresh ideas.”
At Cornell-Capital, we have been saying this for years. The Model S came out in 2012 and we anticipated the arrival, not too far thereafter, of sexy well designed competitors. We are still waiting.
Warren Buffett once told me, never fly on an airline that has coffee stains on the seats. While coffee stains themselves are not a big deal, there existence says somehting about the quality of the airline’s management that could be critical. The failure of German automakers to have introduced sexy competition to Tesla by now also may say something about management – that they lack the chutzhap to compete with the likes of Elon Musk. At least that is what the market price of Tesla’s stock suggests.