Electric car market; Will anyone be able to beat Tesla anymore?

Automobile 2021-10-28

newsteamz_Electric car market; Will anyone be able to beat Tesla anymore?
  • Elon Musk's Tesla can be described as an institution that leaps to profit every moment.

  • Tesla is fast gaining ground in the electric vehicle market.

  • Musk and Tesla were founded in 2003 by Martin Eberhard and Mark Terpening.

Elon Musk's Tesla can be described as an institution that leaps to profit every moment.

Tesla is fast gaining ground in the electric vehicle market. Musk and Tesla were founded in 2003 by Martin Eberhard and Mark Terpening.

The company has introduced the first car since Musk became CEO of Tesla in 2008. In the 10 years to 2018, Tesla sold just over 5 million cars. But the next three years witnessed Tesla's astonishing growth. The company sold 1.5 million vehicles during the period. Of that, Tesla has sold over 8 lakh vehicles in the last 12 months.

Tesla is set to become the most trusted brand in the electric vehicle market through Womban orders. What sets Tesla apart from other automakers is the fact that many entered the industry at a time when electric vehicles were not even considered.

Elon Musk's assets rose by a whopping Rs 2.71 lakh crore on Monday after Hetes Global Holdings placed an order for one lakh Tesla cars. Tesla additionally has become the sector's maximum precious automaker. Tesla is the first carmaker to join the trillion-dollar company of Apple, Amazon, Microsoft, and Alphabet Inc.

Tesla currently sells only four models. They are Model Three, Model S, Model X, and Model Y. The best-selling compact sedan is the Model Three. Tesla's upcoming vehicles are cyber trucks and semi-trucks.

Tesla is gearing up to enter India, one of the largest auto markets in the world. Prior to that, Tesla India Motors and Pvt Ltd had opened an office in Bangalore in January. It remains to be seen whether Tesla, which has sought concessions on vehicle imports, will now set up a manufacturing unit in India.

Musk estimates that India will account for about 10 percent of the company's total market share over the next 10 years. Tesla aims to reach 20 million vehicles by 2030 It's almost certain that the future belongs to electric vehicles as well. Therefore, Tesla's progress in the coming days will probably be unpredictable. Other automakers are waiting to see how long it will take for Tesla to catch up.

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