Tesla is an world popular electrical company founded by Elon Musk back in 2003, Tesla offers the best options and provides the most effective electrical cars to their customers, Which helps them to dominate the market and the most effective feature of Tesla is the autopilot mode. Here we brought Top 7 Tesla Competitors, with their best models available in the market and brief why Tesla is winning and ahead of all of them?
History of Tesla
Tesla is an electric car company founded by Elon Musk, Martin Eberhard, in 2003 as he was uplifting the company Elon Musk becomes the shareholder in the company in 2004 he gives the direction to Tesla and becomes the CEO of Tesla.
Three words that define Elon Musk are futuristic barrier free-thinking and future-oriented person Elon Musk works 80 hours a week which is next to impossible for many people out there.
Tesla gives the best features and provides the best electric cars to their customers which helps them to dominate the market. The best feature of Tesla is the autopilot mode.
Why Tesla is ahead of it’s competitors?
Now, Tesla solely trails Toyota globally, which contains a market cap of US$233 billion. The company is that the highest-valued USA manufacturer of all time and its market capitalization has excelled each Ford and gram combined.
The company’s business model significantly spins around selling, servicing, and charging its electrical vehicles. As several auto-makers use franchised dealerships to sell their vehicles, Tesla leverage the opposite model, direct sales.
Tesla’s specialization in electric vehicle manufacturing, battery energy storage from home to grid-scale, and through its acquisition of Solar City, solar battery and star roof tile producing are creating it to drive to future level.
Like Apple develops the iPhone and Microsoft uses Intel chips and Dell PCs uniquely, Tesla builds its cars by developing computer code on unique hardware.
Top 7 Tesla competitors:
As we talk about the competitor of Tesla many cars have a special place in the market. As with matching features with Tesla many companies have launched their electric cars in the market the following are the competitors of tesla.
1. RIVIAN, America
The electric car manufacturer Rivian is one of the best Tesla competitor from the list of Top 7 Tesla competitors, that can give tough competition in future. The Amazon and ford with their biggest investors making up the market. Recently, Rivian boosted an additional $2.5, billion in their funding.
Previously to that, it had raised $700 million in first round and $500 million in another round. The plans of Rivian begin its producing of the off-road-capable pickup, the R1T, and SUV, the R1S, as per the news they are going to launch it in 2021.
The Rivian is now busy producing electric delivery vans for people. As per the news Amazon has so placed an order 100,000 Rivian electric delivery vans to help this car startup.
2. Li Auto (LI), China
The Chinese electric vehicle (EV) maker Li Auto is planning to launch an electric model that will uplift the company’s latest platform. As per the news it will launch in 2022 with its best features. Li Auto, China is another Tesla competitor from the list of Top 7 Tesla competitors.
The founder of this company, Xiang Li, created a great revenue this year. Li Auto has an approval rating of 90%. In this year Li Auto has reported a revenue of $1.1 billion. Li Xiang PHEV with a strong finishing will be the latest model of the Li Auto which will be competing with its peer’s Tesla and Nio.
3. Nio (NIO), China
As the NIO Motors came up with the rolling flames of disaster with an updated ES8 electric SUV and also with new electric sedan ET7. With no doubt Nio is growing quickly with the revenue on the track as per the news the revenue will double, the stock price is overvalued in our view for many reasons Nio is a richly valued car which had been working on 26x projected revenue to the Tesla trades at about 12x. Here we keep Nio to 3rd Tesla competitor from the list of Top 7 Tesla competitors.
4. Nikola corp. (NKLA), America
Nikola plans to design and plan its trucks to manufacture on a high stage to amplify the market. The Nikola corporation wants to disrupt the market and enhance the competition by their multitasking hydrogen-electric trucks. Nikola corp is 4th Tesla competitor from the list of Top 7 Tesla competitors.
Nikola created a heavy revenue in 2020 and can lead Tesla in 2021.T the Nikola company has stated on several occasions that they intend to take some of their concept vehicles into production in the future.
5. Workhorse Group (WKHS), America
(WKHS) Workhorse Group placed up with their last-mile delivery which is built specifically. As they are coming with their step vans C650 and C1000. The workhorse company is obsessively focusing on solving the commercial transport department. The GM owns the workhorse company and going to rival Tesla as it is the 5th competitor to from the list of Top 7 Tesla competitors.
Also developing the best cloud-based, real-time telematics performance monitoring systems. These features can be the competitive advantage against tesla.
6. Canoo Holdings (CANOO), America
Canoo holdings manufactures multi-purpose delivery vehicles with amazing features that are driven by technology and put you in charge. The Canoo Holdings formerly known as evelozcity and this company is quite popular with their unique vehicle design. Canoo is the 6th Tesla competitor from the list of Top 7 Tesla competitors.
The vision of the Canoo holding company is to produce affordable commercial electric vehicles. Recently, the news was published that Canoo will merge with Hennessy.
7. Jaguar, United Kingdom
As per the news of 2020 jaguar, I pace is said to be the closest competitor of Tesla They’re launching their first electric car with awesome features and a Torque of 696 nm with the best car agility and it is said to be the best car for modern business.
The Jaguar pace can be the biggest rival to Tesla, as JLR have a very big brand value in the market. JLR is the 7th contender to Tesla from the list of Top 7 Tesla competitors.
As per the revenue of the jaguar are quite high. We can say this Jaguar can beat up or create a problem for Tesla in the upcoming season.
Tesla is said to be better because of its battery-powered vehicles and it is significantly simpler than the internal combustion competitors. Tesla adversely tries to give the best shot to its consumers.
- Read Also:
- Electric car maker Tesla’s market cap crosses $800 billion
- How good is Tata Nexon EV an electric SUV?
What about Indian EV companies?
Tesla has many competitors in global market, but is Tesla has any rivals or competition from any Indian manufacturer like Tata Motors, Maruti Suzuki or Mahindra & Mahindra?
If not now, then can we ever give tough competition to any companies like Tesla in near future? As we know future is of electric and autonomous vehicles. Which will also feature with fast charging, self driving, self navigating and various modern technologies.
Once in a while Mahindra & Mahindra chairman Anand Mahindra was criticizing Tesla by saying we welcome you, as Mahindra was announced it’s electric coupe car Hallo.
So today in this post we get information about Tesla’s competitors and how good or bad their electric vehicles are? We gathered information about competitors of Tesla and differentiated between them I hope you like this post and if you receive any valuable information from this post don’t forget to share and if you have any questions related to this post make sure you let us know in the comment section. Also tell us who do you think is the biggest competitor of Tesla can in the future from this list of Top 7 Tesla competitors specifically curated by Stunning Autos by the company popularity and brand value and existence.