Tesla – the car making giant – is a bigger automaker by market capitalization than Ford, Fiat Chrysler Automobiles and General Motors now. The electric car making giant is giving competition to some big names like Volkswagen and Toyota as well. However, the automaker is still pretending to be a small company in front of other big and mean automakers.
Tesla CEO cannot hide the growth of Tesla
The almost $60-billion valuation of Tesla has come while constantly building a small number of expensive electric cars and losing money over its 13 years of existence. Elon Musk, the Chief Executive Officer of Tesla Motors, does not want anyone at the car making company to get over-confident which is why lately he has taken the initiative to make the automaker look like a small automaker in front of other large car makers.
The U.S.-based car maker is actually giving tough competition to its rival automakers in the car industry. It is very easy for the electric car making giant to call every electric-car concept that comes out from a major automaker or a startup a ‘Tesla Killer’ however the auto industry is not particularly interested in killing Tesla Motors. The U.S.-based electric car making giant has served as a risk-laboratory for the auto industry for almost five years since the automaker released its Model S sedan.
The CEO of the company has made several daring, expensive and risky moves in the past and he is still making them while the rivals of Tesla like Toyota and General Motors are just sitting back and enjoying the show.
GM following Tesla in its electric car concepts
General Motors is more or less following Tesla when it comes to electric vehicles. After Tesla launched its electric car, the General Motors developed and marketed its own long-range electric vehicle as well. GM’s first long range EV was the Chevy Bolt that is also one of the most affordable electric vehicles currently.
Now, the electric car making giant is looking to reveal its first electric Semi-Truck soon and is also planning to release another affordable vehicle – the Model Y. We just have to wait and watch whether its rivals, especially General Motors follows the former company or not.
After going through hell with production issues of Model X SUV (Musk said Model X was an example of Hubris), Musk has decided to keep it simple with the Model 3. The Model X SUV, which arrived in late 2015, had an over-the-top design which made quality control and initial production a disaster. Musk does not want to make the same mistakes, which is why he is keeping everything pretty simple with the Model 3.