>> Global automakers are investing 90 billion in electrifying their vehicles. I'm Reuters correspondent Alexandria Sage in Detroit. That's a huge amount of cash but we still don't have a lot to show for it. Seeing as electric vehicles are only about 1% of the total market. Ford, for example, has just announced they'll be spending $11 billion in electrifying their vehicles.
And here in Detroit, where I am here at the Ford booth, we still don't see a lot of electric cars. They have one electric vehicle on display, the Ford Fusion. What does that mean? Since these electric vehicles won't come on to the market for another few years, that gives a great opportunity to Tesla to corner the market even more than it already has.
At the same time it faces a huge risk because there will be much, much more choice in electric vehicles down the road. The CEO of Daimler said here in Detroit that everybody and his brother will be making electric vehicles soon. Now, Tesla has have a problem ramping up its mass market model tree vehicle.
If Tesla can't fix its production problems and deliver the nearly half a million cars that reservation holders have already ordered. It can have a better chance at cornering the market here. One outstanding question is who will buy these vehicles? Will the demand be there? Obviously Global Automakers plans on making them but it's not assured that the public will go along with electric vehicles.