Tesla Motors Inc (NASDAQ:TSLA) Fine With Ferrari CEO Thoughts on ‘Obscene’ EVs

Tesla Motors, Inc (NASDAQ:TSLA)

Tesla Motors Inc has emerged as a forward-thinking and revolutionary car firm in and industry where things typically change at a slow speed. The speed of Tesla’s success and its car have been acknowledged by all, including Ferrari CEO – Sergio Marchionne.

Tesla Motors Inc (NASDAQ:TSLA)

Ferrari won’t make EV

With each passing year, the EV revolution is picking up steam, but Ferrari is not at all interested in it. Last month, Ferrari CEO’s statement underscored Ferrari’s aversion to all things electric. He said the idea of having a Ferrari that doesn’t have an internal combustion engine would be an almost “obscene” concept, and Ferrari will never do something of that sort.

Ferrari CEO, who took a Tesla for a spin, except for the acceleration, found the car as wanting. He called it ‘obscene,’ and as per a report in CNN, he referred the experience as obscene because there was no engine noise while Ferraris are known for creating a lot of noise.

Explaining further, he said the aggressive sound that Ferrari engines make is a crucial part of the Ferrari driving experience. While riding a Tesla Motors Inc , he tried filling the silence with the radio, and while turning it on, he said, ‘This is not Ferrari.” The CEO said he doesn’t have any interest in building a Ferrari that drives on its own since Ferrari brand is about driving, fundamentally. Speaking to a room of reporters he said, “You’ll have to shoot me first.”

Ferrari’s allegiance to loud cars that run on gasoline is understandable, but given Tesla’s ability to defy traditional auto conventions with great success, one could assume the auto makers to look at the EV technology with a more objective eye.  Apart from Ferrari, Porsche also remains seemingly beholden to traditional modes of thinking. Though Porsche recognizes the value of an EV, and its work on the Mission E exemplifies that, the firm remains philosophically opposed to self-driving car technology.

A few months ago, Porsche CEO Oliver Blume said no one would go for a Porsche that a computer drove for them.  “An iPhone belongs in your pocket, not on the road,” Blume said.

Tesla – a revolutionary automaker

Tesla has faced criticism from several traditional automakers who doubt its prospects for long-term success. But, the success of the Model S, and the recent explosion in Model 3 reservations indicate a bright future for the EV firm. Tesla is an innovative firm, and is completely turning the auto industry on its head.

As proof, BGR recently highlighted a video that features a drag race between a Tesla Model X and a Ferrari F430. It was really impressive to see the Model X managing to hold against the F430 for far longer than anyone would have expected. This draws attention towards an interesting fact that the time has come when an SUV (and that too EV) can go head to head with a Ferrari.

The auto executives, who had been dismissing Tesla Motors Inc out of hand, should stop doing that now since the EV firm has produced an SUV that has the capability of accelerating from 0-60 in just 2.8 seconds. Keeping this in view, it wouldn’t be wrong to say that Ferrari needs to stop being so stubborn, and should consider developing an electric car, says BGR.

Though the notion of making an electric car is contradictory to Ferrari’s DNA, it has not been a barrier for other blue chip automakers such as BMW, who is making efforts to come up with an EV.

At 10.35 am EDT, Tesla shares were down 0.95% at $251.32. Year to date, the stock is up almost 6% while in the last one-year, it is up almost 9%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.


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