Tesla CEO Elon Musk believes that electrifying personal transportation will require electricity generating capacity to double.
And while ramping up output might feel daunting for anyone worried about the transition to electric vehicles, investors—and U.S. consumers turning on the lights—shouldn’t worry.
“If we shift all transport to electric than electricity demand approximately doubles… this is going to create a lot of challenges with the grid,” said Musk on Wednesday at CodeCon, a conference held at the Waldorf Astoria in Beverly Hills.
Now, Musk is no fool: He has built several entities worth tens or even hundreds of billions of dollars. And Tesla (ticker: TSLA) is essentially the first successful American car manufacturing startup of the past 90 years.
READ THE REST RIGHT HERE
PLEASE TELL YOUR FRIENDS ABOUT CITIZENS JOURNAL Keep us publishing – Please DONATE
