Investor Ross Gerber thinks the Iran war-induced fuel price shocks are reason enough to switch to electric vehicles as gas prices climb higher.
No Excuse To Not Own an EV
Taking to the social media platform X on Tuesday, the Gerber Kawasaki Wealth Management co-founder said that with recent trends, there was “no excuse for not owning an EV.” He added that the market had “plenty of affordable EVs to buy including a Tesla.”
Gerber then said that it was “silly” to pay “half your money in gas,” encouraging drivers to switch to EVs as it was a “better way” for vehicle ownership.
The investor, back in July, had reaffirmed his support for electric vehicles, saying that consumers moving away from traditional gasoline-powered vehicles would be shielded from gas price shocks, and also saying that the move would benefit the environment.
Tesla’s EV Market Share
Investor Gary Black of The Future Fund LLC said that Tesla Inc.‘s (NASDAQ:TSLA) hold over the EV market in the U.S. could be attributed to the Model Y refresh in early 2025, as well as the larger scaling down of EV efforts from legacy automakers like General Motors Co. (NYSE:GM) and Ford Motor Co. (NYSE:F) and others.
Meanwhile, investor and co-founder of Ripple Labs, Chris Larsen, argued that California should allow the sale of low-cost Chinese EVs in the state, like BYD Co. Ltd.‘s (OTC:BYDDY) (OTC:BYDDF) $10,000 Seagull EV. Larsen said that the high gas prices amid the Iran war were negatively affecting drivers.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Photo courtesy: Shutterstock
Login to comment