Volvo Cars on Wednesday became the first mainstream automaker to sound the death knell of the internal combustion engine, saying that all the models it introduces starting in 2019 will be either hybrids or powered solely by batteries.
Tesla, which makes only limited numbers of electric cars, surpassed Ford and General Motors this year in terms of stock market value, despite making significantly fewer cars than those automotive giants — a clear indication of where investors think the industry is headed.
Yet Volvo’s move may be the latest sign that the era of the gas guzzler is slowly coming to an end.
As Tesla shares surged past $300 this week and the company’s market value surpassed Ford’s, even its founder, Elon Musk, acknowledged on Twitter that the company was “absurdly overvalued if based on the past.”
By “the past,” he presumably means old-fashioned valuation measures like price-to-earnings or price-to-sales ratios, the traditional benchmarks for evaluating stock prices. By those measures, Tesla — a company that lost $773 million last year — is indeed off the charts.
Tesla’s market value of nearly $49 billion is not only higher than that of Ford, which earned nearly $11 billion in profit last year, but is within easy striking distance of General Motors, which earned $9.4 billion.
In contrast to Tesla, Ford and G.M. shares have dropped recently on fears that auto sales have hit a cyclical peak. Ford and G.M. executives wouldn’t comment on Tesla’s stock surge, but it’s easy to imagine they’d be tearing their hair out in frustration.
The practical emergence of particle/wave reality from newtonian objective bulk to relational subjectivity has settled in and he who does not realize it – and act on it- will be consigned to the dustbin. Ultimately, it is the emergence of Christ Passing By, calling all not just to follow Him, but to live His Life, becoming Him. It affects all communication via electronic wizardry be it visible or invisible. It is not invisible religiosity but the Person of Christ in the here and now. It is not a case of updating, but of starting anew from Christ. “Feel Me and See” (Lk. 24, 29). God really did become man, lived a human life and continues to live it. The divinity, or “supernaturalness” of that Life is His relentless Self-Giftedness. And He wants us to live It. The present power source is the Holy Sacrifice of the Mass in the Eucharist where He leaves us His Self-Gift sacramentalized. It is the flesh of His heart’s left ventrical (cf. The miracle of Buenos Aires 1996) which we eat and consume powering us on our way. Our luck is to live in the Chronos of the present moment.