The world famous electric vehicles company Tesla Inc. was previously known as Tesla Motors. It was incorporated in 2003 by Martin Eberhand and Marc Terpenning, and named as a tribute to the electrical engineer and inventor, Nicola Tesla.
Following the road to success, Tesla Inc. is now an American multinational clean energy and automotive company with headquarters in Austin, Texas.
Tesla specializes in designing and manufacturing electric vehicles, batteries, solar panels, solar roof tiles, and related products.
Tesla the Biggest Electric Car Company
During the fiscal year 2021, Tesla brought in revenues of $53.92bn. More than 85% of the revenue share was solely generated by the sale of electric vehicles.
Tesla has manufactured four models during this period – Model 3, Y, S and X, and delivered 936,222 vehicles worldwide.
The company has set up manufacturing facilities in California, Nevada, New York, Germany and also in China, to fulfill the demand across various of the world.
Competitor Companies of Tesla
Some of the main competitors of Tesla in the segment of EVs include Mercedes, Ford Motor Company, General Motors, NIO, and Volkswagen.
There are some emerging players in the market as well like Rivian. The company is making buzz with its signature R1T and R1S models.
These companies have ramped up their manufacturing and sales effort in the past years. As a result the EV industry recorded an annual growth of 24.3%. Its net worth is estimated to surpass the $1.3 trillion mark by 2028.
Still Tesla has the biggest share in the global EV market. It is mainly due to reputation Tesla has built over the past decade. They word EV has become synonymous with Tesla. We see no one reaching the top-spot in the foreseeable future.
Let’s find out the major reasons behind the unparalleled success of Tesla worldwide.
Why is Tesla the Best in Business?
Tesla is leading the electric car race due to the efforts of its innovative designers and engineers. Other factors which give Tesla cars edge over their competitors are mentioned as follows:
- Superior Battery Technology
Range anxiety is the biggest issue in electric cars till date. Tesla has managed to address this issue to some extent. The battery technology used by Tesla gives the car owners a range of up to 375 miles or more.
Electric cars in general have swift acceleration. But you will find that Tesla cars are extra quick. For instance Model 3 can reach 60 mph in just 3.5 seconds. And this is not even the top-of-the-line car produced by Tesla.
- Premium Build Quality
You can trust Tesla cars for their reliability. The quality of parts and elements used in Tesla is superior to its competitors. Thus ensuring a longer lifespan and less trouble for the owner.
- Average Base Price
The entry level Tesla Model 3 starts for less than $40,000. Considering that it is an average-sized sedan with a fully electric drivetrain, the price is very competitive.
- Exquisite Styling
Tesla models are nicely proportioned and instantly recognizable. They have sharp and modern-looking character lines. The front is sleek and without any grill, because a car without a radiator does not need one.
The interior designed by Tesla is very clean and simple. It still looks very futuristic and gives a very premium and elegant feel. The interior of Tesla excludes clunky plastics to much extent.
Tesla is the clear winner when it comes to manufacturing electric vehicle. Obviously, there are other big fish in the market as well. But the words EV have become synonymous with Tesla.
It is mainly because Teslas have eliminated the fear of range anxiety in electric cars. Moreover they have exquisite exterior, futuristic interior, and cutting edge modern tech. All these things combined make Tesla cars second to none.
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