Elon Musk loses $41billion in two weeks

Electric cars could become the 'next big flop' as Tesla's Elon Musk loses $41billion in two weeks

By Felix Reeves One expert called on the car industry to look at hybrid vehicles instead of EVs. An industry expert has warned that the electric car bubble could soon burst over claims that drivers do not want to make the switch to an EV. A number of measures have already been introduced to get motorists to make the transition including Government incentives, free charging credit and massive price cuts. However, economist Stephen Moore has warned that electric vehicles may be the car industry’s “next big flop”. Moore, claimed that zero-emission vehicles may fail to meet expectations. He pointed to historical instances of car manufacturers making vehicles that were not sought after by the general public. He said: “Henry Ford's son was named Edsel, and this was going to be the great car that everybody's going to want to buy. Ford made 500,000 of these new sedan cars, but nobody bothered to ask consumers whether they wanted the car. The Edsel was one of the great flops of all time.

"If these trends continue, we're going to see the EV market become the next big flop because car buyers don't want them,”.

The founder and CEO of Tesla, Elon Musk, suffered another hit on October 30 when his net worth dropped by around $7billion (£5.77billion). Tesla shares fell by five per cent, thus lowering the value of Musk’s 715 million shares in his own company.

Comment: So far Malaysia has bought 40 Starlinks from Elon Musk. What has Elon Mask invested in Malaysia so far? My sources tell me that he is having second thoughts about investing in Malaysia. Meanwhile, we wait.