A Battery That Never Dies
Electric vehicles face a huge problem.
Right now if you buy a Tesla, the battery is only guaranteed to last for eight–10 years or 100,000 miles.
But if you’re like me, or like the rest of America, you’ll hit that 100,000-mile mark in much less time.
On average, Americans drive over 13,000 miles a year, the most ever in history.
And males aged 35–54 drive an average of 18,000 miles a year.
If you ever had thoughts about getting away from the gas guzzlers, this presents a major problem for you.
Every five years, you’re replacing the “engine” that runs your car. And it can cost you anywhere from $1,000–7,000 depending on the make and model.
And those are the required costs.
If you ever plan to pay off your car, you’ll need to do some mental gymnastics about how much a replacement costs, how much you’ll drive it and how long you plan on keeping it.
It’s all very exhausting to think about.
But today, I have some good news for you…
Because on Sept. 22, everything surrounding the EV industry could be flipped on its head.
The Million-Mile Miracle
Every day tech innovates.
And battery technology is no exception.
The biggest innovation to date is expected to be announced by Tesla Inc. (NASDAQ: TSLA).
On September 22, Elon Musk and co. plan to reveal what’s been deemed the “million-mile battery.”
This could seriously pave the way forward for more and more people to consider buying an EV on their next purchase.
The new battery is expected to increase the life span of current models by nearly 10 times what rates are now.
That means no five-, 10- or even 15-year replacements down the line.
People nowadays are commended if they hit 200,000 on a car – let alone pushing 1 million.
But that’s what’s been rumored. And an innovation like this could be huge for the industry.
Now, the question remains: Is it a good idea to invest in EV stocks?
I would say be VERY careful about this industry.
Recently Tesla got an upgrade to be possibly promoted to the S&P 500 Index.
That, combined with good recent sales and expansion into the Indian market, made its price jump to insane levels.
Yesterday, for instance, saw a nearly $300 swing as it tested new highs past $1,700 and ended the day below $1,500.
The whole EV industry right now is feeling the pain of reality setting in. There’s hope for the future, but many EV stocks now were overbought on hype in the past week.
On the flip side, Elon Musk’s dreams and accomplishments aren’t going anywhere.
He’s had his hand in amazing successes in the past. He’s one of the geniuses behind PayPal Holdings Inc.
(NASDAQ: PYPL) and Tesla.
And his next goal is to take on the space industry.
If you act now, you can set yourself up to benefit off this next big step for technology.
To a bright future,