Anytime someone talk about a buying Self driving car Tesla an American electric car name comes to top of the list and power train designer, developer, manufacturer, and distributor headed by serial entrepreneur Elon Musk. This highly
In 2021, Tesla said that it would start production of its Cybertruck, an EV pickup with a 250-mile per charge range, in 2022.
It also plans to start producing its electric semi-tractor truck.2
Tesla is also involved in providing services to other automotive companies by, for example, selling its battery technology. However, Tesla has two primary revenue segments—automotive sales and development services. Automotive sales account for the lion's share of the revenue.3
Tesla has seen marked growth after years of breakeven performance. Tesla beat Wall Street’s earnings expectations in the second quarter of 2021, generating $1.1 billion (on a GAAP basis). This more than doubled the $438 million it generated in the first quarter. For Q2 of 2020, Tesla generated just $100 million in income.
Using adjusted figures (non-GAAP), Tesla reported $1.6 billion in income for Q2 2021, up from $1.1 billion in the first quarter. It reported $451 million in the second quarter of 2020.45
KEY TAKEAWAYS
- Tesla has several competitors among traditional carmakers, such as Ford and Honda.
- Tesla has managed to see success by focusing on premium electric vehicles (EVs).
- There is more competition, however, now entering the higher-end electric and self-driving car market.
- Ford, General Motors, Nissan, Nio, and Honda are some of Tesla's main competitors.
- Still, when it comes to luxury EVs, Tesla owns the top spot.
- Tesla tried to invade market, but heavy import duty and conditions to setup manufacturing unit or assembly line in India pushes hard time dream to enter Indian markets.
- Tata in India manufacturing similar product line which not only suits demand and supply but also know how Indian customer thinks and drive any passenger vehicles.
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