Automobiles

Published on November 29th, 2017 | by Guest

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Tesla Total Wipeout [Infographic]

Tesla’s Impact On The Market

Although barely a decade old, American automaker Tesla has managed to truly shake the car industry; specializing in electric car and lithium ion battery energy storage, their technological level is currently unchallenged by competitors.

CEO Elon Musk envisions Tesla as a technology company and independent automaker aimed at eventually offering electric cars at affordable prices to the average consumer. Already having experienced great success with the Model S and Model X, now, the highly anticipated Tesla Model 3 is ready to join the pack.

Simply by showing off a close-to-production prototype, the Californian company received nearly 400,000 pre-orders, worth upwards of $10 billion. No other automaker has ever pulled off such a feat.

But how are Tesla different? Not only are Tesla constructing a ‘Gigafactory’ in Nevada to create lithium-ion batteries for use in Tesla cars, they are actually planning to recycle entire trains, amongst other items, into batteries there. This will be the second largest building in the world by volume once its complete, and it will be powered by 100% renewable energy. Pretty impressive.

But not only are their manufacturing resources impressive, CEO Elon Musk is a huge asset for the company. Musk, who has managed to take technology companies such as Paypal, SpaceX and Solar City, to valuations of over $1 billion, has also invested $70 million of his own money in Tesla, but only takes $1 annual salary from the company.

Nevertheless, despite dominating the electric vehicles market, overtaking competitor’s sales year on year, continuously growing market share and Tesla’s yearly revenue accelerating, you might be surprised to hear that Tesla has never actually turned an annual profit and it is predicted to stay this way until 2020.

Car leasing company Select have taken the opportunity to have a look and delve into the electronic motoring giant’s journey so far, to see how far they’ve come and how they’ve fared against the competition.

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