PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
When did Elon Musk think about electric cars?
Elon Musk is a genius. He owns SpaceX and runs Tesla and it seems he entered the EV market just at the right time for it to “take off” (pun intended). When did Elon Musk start thinking about electric cars?
Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You’re right, he is on the genius level (and so are you for that pun!). Personally, I think Elon Musk started creating a plan to market EVs while he was in the womb, but he has said otherwise. Elon Musk has said that he began thinking about manufacturing EVs when he realized no other main manufacturer was doing it.
The best business advice I’ve ever received was “find a need and fill it, then you’ll never be out of a job.” It seems as though Musk got that same piece of advice, and is now a multibillionaire.
While there was a promising demand for EVs at the end of the 1990s, the main manufacturers weren’t heading in that direction, so Musk decided to do so. Fortunately for him, he entered the market at a time when everything was shifting but many ridiculed him for calling his company EVs for rich people.
A
CNBC article
reflects on Elon Musk’s predictions from 2008. Tesla’s first car, the Tesla Roadster cost about $109,000 and while he knew it was high, Musk argued that much like laptops and phones, the profits all went towards “the development of lower cost mass-market vehicles in the future.” Just because you may be interested in rocket science, doesn’t mean your
car insurance
premiums have to be sky high. Jerry
is the number one car insurance comparison app that will help you get the best deals on your insurance. Just download the app, fill out the 45-second questionnaire and Jerry will match you with the best quotes for your lifestyle. MORE: What’s new on the 2023 Tesla Model Y?
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
