Barry Ritholz at Bloomberg seems to think that Tesla just put the nail in the long-term coffin of the internal combustion engine:
What Tesla has done with its “Ludicrous mode” upgrade for the Model S is figure out how to put almost all of the power in its system to all four wheels at once without melting its engine-management components.
The Tesla P85D with the complete 90kWh “ludicrous” upgrade costs about $100,000. The upgrade gives it a 0 to 60 mph time of 2.8 seconds. To put that into context, to get that sort of acceleration from a car previously required a Porsche 918 Spyder (0 to 60 in 2.3 seconds) or a Bugatti Veyron (2.6 seconds) or a Koenigsegg One (2.5 seconds). They each cost $1.1 million, $2.9 million and $3.8 million, respectively.
You can save some money by buying a Lamborghini Huracan ($237,250) or the Ferrari 458 Italia ($239,340), but both are slower than the Tesla. That makes the McLaren 570s a relative bargain at $184,900, but it, too, is slower than the Tesla.
The bottom line for Ritholz, who proclaims himself one not to make bold predictions, is that the top-end market will soon fall to Tesla, followed by the rest of the car market:
My guess is that by 2035, if not sooner, the majority of automobiles sold in the U.S. and Europe will no longer be gasoline-powered.
Let’s hope he’s right, because the future of climate stabilization depends on it.