Tesla Investor Ross Gerber Touts One More Incentive To Buy EVs: 'Saudis Are Gouging ICE Drivers'
Portfolio Pulse from Shanthi Rexaline
Tesla investor Ross Gerber has highlighted rising gas prices as an additional incentive to buy electric vehicles (EVs). Gerber's comments come amid a sharp rise in energy prices, triggered by Saudi Arabia and Russia's decision to extend production cuts. The nationwide average price of regular-grade gasoline is currently at $3.876 a gallon, up from $3.682 a year ago. Gerber suggests that the price hikes give 'even more incentive to buy an EV'. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) ended Friday’s session down 0.54% at $29.36.
September 18, 2023 | 8:22 am
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POSITIVE IMPACT
Tesla investor Ross Gerber's comments on rising gas prices could potentially increase interest in Tesla's electric vehicles.
As gas prices rise, consumers may be more inclined to consider electric vehicles as a cost-effective alternative. This could potentially increase demand for Tesla's products.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) ended Friday’s session down 0.54% at $29.36.
The ETF, which includes electric vehicle companies, saw a slight decrease in its value. However, rising gas prices and increased interest in EVs could potentially have a positive impact on the ETF in the future.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60