“There's no question about it: The future of mobility is electric,” Farkas told Kristina Partsinevelos.
Electric vehicles have been in the spotlight recently, mostly due to Tesla's botched unveiling of its new Cybertruck.
“If you look at companies for the last 100 years, the most valuable ones have typically been those that fuel the transportation system of their areas, whether it's in the U.S., Europe, anywhere in the world,” he said.
“What we're doing is we're taking over for the fuel companies," Farkas said.
Major questions some consumers ask of electric cars are: What if I need to travel a long distance? Can an electric car go as far as I need it to without running out of charge?
These queries don't concern Farkas.
“The cars' ranges are increasing,” he said. “I have a Tesla that drives over 300 miles."
"You really don't need as much range as you think you do. The human body needs to rest during those times.”
Farkas acknowledged older model electric vehicles haven’t met consumer needs, but he said the newer models do.
“Now, when you have beautiful cars that drive long distances, that have autonomy and all these unbelievable functionality and features, I think the cars will sell themselves," he said.