Elon Musk, Co-founder & CEO
Not many dreams of launching a car into space, unless that person is Elon Musk, the Co-founder, CEO, and Product Architect of Tesla. His eccentric visions include introducing a Tesla Roadster into space, zipping around in driverless cars by 2020, the Hyperloop high-speed tube train, and establishing a human colony on Mars. Quite astonishing, indeed! Electric automaker Tesla has a bag full of products envisioning future implications. In 2018, Tesla became the world’s best-selling electric car brand. “We will not stop until every car on the road is electric” Musk asserts confidently. The company’s mission is to accelerate and support the transition toward sustainable energy. The California-based Tesla undoubtedly have the best-in-class safety, reliability and top performance in all of its cars and there are about 275,000 Model S, Model X and Model 3 vehicles on the road globally.
EVs have been around since the earliest days of the automotive industry. However, in recent years, rising concerns toward environmental issues have driven the growth of the EV industry significantly. Policymakers, automotive executives, and electric utility industry executives are constantly looking new ways to understand when, how and where customers are most likely to adopt EVs and accordingly looking forward to meeting up the expectation rate. The main reason behind it is technological advancement and continuous shift in the buyers’ needs and expectations.
The most important question today is, how feasible these electric vehicles (EVs) are going to be in terms of their efficiency and performance as compared to fossil fuel-powered automobiles. However, there are ample reasons to support the growth of EVs worldwide, mainly due to its immense potential to reduce greenhouse gas emissions that emanate from gas or oil-based vehicles. To make way for the development of EVs, Tesla on the other hand recently announced a surprise update dedicated to increasing charging speeds for all its cars running in the market, including the reveal of its V3 Supercharger.
Tesla believes that it will drastically reduce the amount of time customers spend charging by an average of 50 percent. “You have to match the convenience of the gasoline car for people to buy an electric car,” says Musk.
Need For Speed: The Race to the Top
Many customers around the world wanted to know what a Tesla car represents or what a Porsche represents. People have often regarded Porsche as overpriced until, during the famous launch of Porsche’s Taycan, many Tesla critics from all over the world started praising Porsche for finally making an electric vehicle and hailed it as the ultimate Tesla competitor. In August 2019 at Nürburgring, Porsche claimed a lap record of 7:43 seconds, for a four-door EV—send a warning message to its closest rival Tesla—later, Musk announced that Tesla would soon launch a Model S to attempt a faster track record.
"The point of all this was, and remains, accelerating the advent of sustainable energy, so that we can imagine far into the future and life is still good"
Over the years, Tesla had displayed a strong point regarding their cars’ overall performance, that ultimately proved its mission to go at the top of the chart and moving toward the goal of embracing sustainable energy. Soon after, the company made remarkable strides toward immense success and kept pumping out a record number of cars. In fact, the Model S was awarded the Motor Trend Car of the Year back in 2013.
However, various other notable companies are making all-electric vehicles, but Tesla is way ahead when it comes to raising awareness for EVs. According to a recent report, 81 percent of car owners acquiring an electric car listed Tesla as a vehicle to be the most convenient for driving. Recently, Musk’s recent visit to China proved to be quite beneficial as he was able to persuade Beijing to grant Tesla an exemption of 10 percent purchase tax on all vehicles it sells in the country. This helped to increase Tesla’s competitive advantage over its rivals in the passenger EV market. The company was able to sell around 20,000 units in July, followed by BYD Co.
Failure is Not an Option
“My mentality is that of a samurai. I would rather commit seppuku than fail,”- Elon Musk
Tesla followed a unique approach to get its first vehicle in the market by not trying to build a relatively affordable car that it could mass-produce and market—instead, they took the opposite approach— focusing instead of creating a compelling car.
The company came up with its first high-performance electric luxury sports car, the Tesla Roadster which was sold approximately around 2,500 units before ending production in January 2012.
Tesla cars have completely revolutionized the way electric vehicle industry looked before. The company’s futuristic EVs’ are environmentally friendly and have the potential to deliver superior performance. Additionally, Tesla cars come with a powerful battery, which is rechargeable and gives juice for the car to run for a certain period of time. They are backed by lithium-ion cells which makes the battery extremely powerful. The entire battery kit also comes along with a dedicated heating system as well which help their customers to start their cars even under severe cold weather conditions. The process of recharging a Tesla battery is quite similar to the process of recharging any portable gadgets used in day-to-day life. The company claims that it is one of the important differentiating factors between their cars and any hybrid cars present in the market.
Tesla cars are equipped with a small motor, which is considered as one of the latest innovations in electronic engineering. It converts electrical energy drawn from the batteries to mechanical power to move the vehicle, which is more efficient as compared to the combustion engines found on traditional cars. This helps owners to go an extra mile which ultimately helps them to save money in the long run.
The Bottom Line: For a Better Tomorrow
The 21st century has witnessed a complete turnaround in the e-vehicles set up and market presence. Scientists and companies like Google, Uber, and Ford have already started experimenting with self-driving car technology. Though these advancements are marked in their early stages, Musk believes that the automobile industry will become completely autonomous in the next two years. “I consider autonomous driving to be a solved problem,” Musk asserts. He adds, “We’re less than two years away from complete autonomy. Regulators, however, will take at least another year; they’ll want to see billions of miles of data.”
Furthermore, Tesla has mainstreamed its innovations as dealer-less sales channels, screen-based dashboards, and over-the-air software updates so that it helps cars on the road to get a better response and service at any time rather than annually. Tesla vehicles are more powerful, and the software that manages their batteries provides a linger range than their peers. Musk concludes on an ambitious note by saying that, “The point of all this was, and remains, accelerating the advent of sustainable energy, so that we can imagine far into the future and life is still good.”