GM declares “war” to Tesla image

Dan Akerson, CEO and Chairman of General Motors is serious when it comes to Tesla, as the executive told reporters this week during an event in Washington that the automaker prepares its Cadillac brand to seriously compete with the Palo Alto, Calif.-based Tesla.

“If you want to compete head-to-head with Tesla, and we ultimately will, you want to do it with a Cadillac,” Akerson said.

Interesting is that Akerson is still not sure that Americans in large numbers want to buy all-electric vehicles – or at least not at this moment. However looks like the executive understands that at this moment Tesla was able ( and is the only electric start-up) to establish a brand in the auto industry.

“Does anybody even remember Fisker? I mean, there were a number of them; they are all gone,” Akerson said.

Tesla’s shares rose yesterday almost 7 percent approaching fast to the $180 mark, after some industry analysts from Deutsche Bank have raised their price target for the stock to $200. The startup electric-car maker, at this moment worth more than Fiat – even if the company is 100 times smaller – and sells less than 1 percent compared to Fiat.

It worth even more than Mazda, Suzuki, Mitsubishi!

This year, Tesla’s shares rose more than 400 percent after a series of positive news – the automaker posted its first-ever quarterly profit in May and the Model S scored max in Consumer Reports tests.

Also, the same vehicle received five stars from the National Highway Traffic Safety Administration.