Why Tesla Is Succeeding While Everyone Else Is Failing: Not Exactly An Endorsement For EVs; Tesla: Target The Rich Who Want A 3rd Or 4th Car To Sit In Their Driveway As Show

Yahoo!Finance is reporting:

Miles Electric Vehicles, , a U.S. manufacturer of low-speed, all-electric cars that were used by the U.S. Navy, the National Park Service and various universities including Yale, Stanford and UCLA, filed for Chapter 11 bankruptcy protection on Tuesday.

Entrepreneur and philanthropist Miles Rubin founded the company in 2004 with the mission to “rapidly develop advanced all-electric vehicles to meet the needs of organizations and everyday drivers, while using no gas and producing zero tailpipe emissions.” According to Reuters, Miles Electric has “estimated assets in the range of $10 million to $50 million, and estimated liabilities of between $50 million and $100 million.”

Miles Electric Vehicles website here. 

And then the article goes on to explain why Tesla is succeeding: it catered to the rich who will buy, but probably not drive, the Tesla as a 3rd or 4th car.