This Electric Car Could Be the Final Nail in Tesla's Coffin

According to Volvo CEO Jim Rowan, by 2025, electric vehicles will reach price parity with internal combustion vehicles. Here's what that means for us... According to Volvo CEO Jim Rowan, by 2025, electric vehicles will reach price parity with internal combustion vehicles. Here's what that means for us... [Wealth Daily] Jeff Siegel / Nov 24, 2022 This Electric Car Could Be the Final Nail in Tesla's Coffin Three years. That’s all it’ll take. Even less than that, actually. According to Volvo CEO Jim Rowan, by 2025, electric vehicles will reach price parity with internal combustion vehicles. This isn’t surprising, as electric vehicle prices have fallen over the past 10 years or so as battery production prices have plummeted nearly 90%, according to Bloomberg. That being said, for the first time in more than a decade, battery prices have inched up in 2022. Researchers at Bloomberg expect to see the average battery pack rise to $135/kWh this year. In order to get to that price parity point with internal combustion vehicles, that price must fall to $100/kWh. It was estimated that battery pack prices would fall to $92/kWh by 2024. Now, that is unlikely to happen until 2025 or 2026, depending upon supply chain strains. Still, the EV segment does continue to enjoy consumer demand increases, and, despite a short-term increase in battery prices, the long-term outlook remains the same: Electric vehicles will see price parity with internal combustion vehicles before 2030. And this doesn’t even include savings for consumers directly related to operational costs. Here Lies Silicon Valley, RIP If you thought the tech crash was bad... you haven’t seen anything yet. Due to a massive shortage of one rare resource that’s critical to their existence... Silicon Valley and the $5.2 trillion tech industry are facing a death sentence. And only one tiny company can save them from disappearing. [Read more about the $1 company ready to revive Big Tech.]( Electric Vehicles Already Win on Price The obvious cost savings right off the bat are fuel costs. Generally speaking, “fueling” an electric vehicle costs about 3.5 times less than fueling an internal combustion vehicle, although much of this depends on where you live and how much you pay for electricity. Either way, electric vehicle drivers do save a fair amount of cash on fuel costs. According to the Federal Highway Administration, U.S. commuters drive an average of 14,263 miles per year. Today, we’re paying an average of roughly $3.77 per gallon, with the average fuel economy of passenger cars coming in at around 24 miles per gallon. That means the average U.S. commuter spends about $2,240 per year on gasoline, or $18,000 over the course of eight years (the average amount of time most U.S. car owners keep their cars before getting a new one.) Using the same number of miles driven, the average U.S. commuter using an electric car will spend about $640 per year for electricity, or $5,120 over the course of eight years The total fuel cost savings over eight years is $12,880. Then figure in repair and maintenance costs, which are much lower with electric vehicles because there are just fewer moving parts. No oil changes or spark plug replacements, longer-lasting brakes, etc. According to Consumer Reports, electric vehicle drivers save an average of $4,600 on repair and maintenance costs alone. Add that to the $12,880 savings on fuel costs, and total savings come to $17,480. That’s not trivial, and now there’s a new electric car about to come on the market that could completely eliminate fuel costs altogether. They Call It “TriFuel-238,” and It’s Oil’s Worst Nightmare [Tri Fuel]Renewable energy recently clashed with fossil fuels, and neither side won. Wind and solar just aren't ready yet. Oil and gas are dirty relics of the past. But “TriFuel-238” is here today. It’s not technically renewable, and it’s nothing like fossil fuels. The Biden administration has already spent billions of dollars to develop this tech before it falls into the hands of a hostile country. It’s the most powerful fuel the world has ever seen, hands down. Just a pound of it could power an entire neighborhood for a year. This material is practically extraterrestrial — and no other company has access to it. There’s still time to invest. [Don’t wait a single second longer.]( This Electric Car Doesn’t Even Need to Be Plugged In If you’re a regular reader of these pages, you may have heard me mention this before: a new electric car that has solar cells integrated into the body of the vehicle. With those solar cells, the vehicle can charge directly from the sun. And while you’ll only get up to around 22 miles of range from those solar cells, by 2030, that number could more than double, which would more than cover the daily commuting needs of more than 70% of all U.S. drivers. With a fully solar-powered electric vehicle (used for daily commuting), “fuel” costs could be eliminated entirely, thereby bringing the total savings of electric car ownership to $22,600. Oh, and by the way, that solar-powered electric vehicle is expected to retail for about $31,000. Deduct that $22,600 in fuel, maintenance, and repair costs, and you’re now looking at $8,400 to buy, operate, and maintain this vehicle for eight years. To put that in perspective, such a vehicle could end up costing you less than $90 per month to own and operate. Compare that with the average car loan payment, which is around $600 per month, according to Bankrate — and that $600 does NOT cover fuel and maintenance. To say this new solar-powered vehicle is a game-changer would be an understatement. While Tesla (NASDAQ: TSLA) was certainly a game-changer when it came to electric vehicles, producing an affordable electric vehicle that will ultimately cost you nothing to charge is the next game-changer in the evolution of electric cars. And make no mistake: The company behind it, which owns the technology, is going to dramatically disrupt the entire passenger vehicle market. Without a doubt, this is a Model-T moment, and you better believe we’re looking to make a boatload of cash from this thing. That's why I put together [this short presentation]( on this new solar-powered electric car and the company that makes it. You can actually buy shares of it right now. I should point out that production is set to begin next year. Once that happens, it’s off to the races. In other words, to get the most bang for your buck, you’ll have to get in now. Incidentally, this company already has over 22,000 pre-orders (more than $600 million worth of pre-orders), and they continue to roll in. I said it before, and I’ll say it again: This is a Model-T moment, and, unless you hate money, you should absolutely have [this stock]([ on your radar.]( To a new way of life and a new generation of wealth... [Jeff Siegel Signature] Jeff Siegel [[follow basic]Check us out on YouTube!]( [[follow basic]@JeffSiegel on Twitter]( Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor's [page](. [Feedback? get in touch](mailto:/newsletter@wealthdaily.com?subject=Wealth%20Daily%20feedback) [Read this email online]( [Manage Newsletters]( [Share on Twitter]( You signed up for our newsletter with the email {EMAIL}. You can manage your subscription and get our privacy policy [here](. This email is from Angel Publishing, 3 East Read Street, Baltimore, MD 21202 © Wealth Daily.