The Future of Electric Cars

Tesla Motors Inc Chief Executive Elon Musk, an entrepreneur known for his outsized ambition, on Friday made a stunning forecast: battery-powered cars will likely match the internal combustion engine in popularity by the middle of the next decade.

“In 20 years more than half of new cars manufactured will be fully electric,” Musk said. “I feel actually quite safe in that bet. That’s a bet I will put money on.”

Musk, who divides his time between Tesla and his space exploration startup SpaceX, said it might even happen sooner than that.

“It’s probably going to be in the 12- to 15-year time frame,” he said, speaking at an event at Tesla’s manufacturing plant in Fremont, where he handed over the keys to the first buyers of the new Model S sedan.
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