The American electric car company Tesla Motor Inc. is a company that is headed by Elon Musk. Elon has spearheaded this company and increased its sales to reach top heights. Tesla was founded in 2003 and has its headquarters in Palo Alto, California. The company is also into development apart from its automotive segment. This is a new-age and brilliant sector of Tesla that is into very innovative manufacturing. However, there are some companies that are nearing Tesla in terms of revenue and can beat it, probably in the near future.
Here we show you five of them and also give you five reasons why Tesla will stay number one.
10 Company That Can Beat It: Volkswagen
One of the top competitors of Tesla would be Volkswagen. This company has its headquarters in Wolfsburg, Germany, and is a really old company, having been founded in 1937. It is now headed by Herbert Diess who is the chairman and CEO. With more than 650,000 employees Volkswagen has revenue of over $270 billion.
It has operations in the manufacturing field as well. With great automobiles under various categories, Volkswagen has upgraded and revamped itself to be one of the best in the world. It has diversified its operations to various countries and the name is synonymous with quality and style.
9 Reason It Will Stay Number One: Elon Musk
Though Tesla was founded by Martin Eberhard and Marc Tarpenning, it is Elon Musk who has made all the difference to the company. Elon has been able to take the company and two others to over $1 billion valuations. He is one of the shareholders in Tesla and now owns about 23% of Tesla stock. He invested £54.5 million in Tesla and this has helped him steer Tesla to what it is today. With his space missions and transportation advancements, like the Hyperloop, Elon is able to bring all the latest technology together to create a simplified tomorrow. Elon Musk is the reason why Tesla will stay number one for a longer time.
8 Company That Can Beat It: BMW
Another of Tesla’s competitors is BMW which is a great automobile company that’s been there for ages. The company was founded in 1969 in Munich. The chairman and CEO of BMW (Bayerische Motoren Werke AG) is Oliver Zipse who has managed to get the BMW brand to every corner of the world. The brand name is something that is associated with luxury and power. It has its operations in the manufacturing section and produces cars that are top quality. It has above 134,000 employees and revenue of over $100 billion. BMW is a group that Tesla needs to keep a lookout for indeed.
7 Reason It Will Stay Number One: Superb Cars
Tesla will stay number one for the simple reason that they produce fantastic cars that are electric. With the Model S, they hit the jackpot. It received Motortrend’s ‘Car of the Year’ award as well. With a 5-star safety rating, the Model S is a powerful yet safe car to drive. Another great car that has come from the Tesla factory is the Model X. This is a sport utility vehicle with a speed of 3.2 seconds from 0 to 60 mph. Tesla has been manufacturing quality cars for 11 years and the sales have been so good that they were able to repay loans nine years early.
6 Company That Can Beat It: AES
AES is a great competitor to Tesla. It was founded in Arlington, Virginia in 1981 and is now a Fortune 500 company. It generates electric power and is the world’s leading company that distributes electric power. It actually generates about 42% of the revenue that Tesla does. It has also now announced a 10-year alliance with Google in order to see the future of energy. It is no wonder that AES is now considered the number three competitor to Tesla. With president and CEO Andres Gluski, AES has reached revenue of $10 billion. It currently has about 10,500 employees.
5 Reason It Will Stay Number One: Elon’s Future Plans
As we mentioned, Elon Musk is the reason why Tesla is so popular today. His plans for the future are genuinely fantastic and it can be seen in the cars he is building and his almost child-like enthusiasm about the future. Model 3 is a car that will be an electric four-door sedan and will have autopilot technology. He also wants to increase the car range to 1000 miles for every charge. This will surely boost car sales dramatically. Elon and his ideas are always something to look forward to. Tesla benefits from the innovative mind of the company employees and their drive and passion to build.
4 Company That Can Beat It: Siemens
Siemens is another German multinational company that can give Tesla a run for its money. It stands at number four in the list of competitors. It has its headquarters in Munich, Germany, and offices all over the world. It is the largest manufacturing company in all of Europe and has branched out into various domains like manufacturing, automation, and energy. President and CEO Joe Kaeser has helped to build the image of the company and bring it up to $100 billion in revenue. Siemens has a total of at least 379,000 employees all over the world. With their diversified portfolio, they may easily overtake Tesla.
3 Reason It Will Stay Number One: Gigafactory
The Gigafactory is a new venture from Tesla and is a huge building that will create lithium-ion batteries. These are the batteries that will be used in the Tesla cars. The 3000-acre area has space to employ 850 employees, as well as 1,700 construction workers. The Gigafactory can also continue even during earthquakes. The factory plans to produce a capacity of 35 gigawatt-hours of battery. Tesla is surely looking into the future and this is what makes it one of the best in the world. This is the reason why Tesla seems to be number one for some time now.
2 Company That Can Beat It: LG Chem
LG Chem or LG Chemical is headquartered in Seoul, South Korea. It is the largest chemical company in Korea and the 10th largest chemical company in the world. With CEO Hak Cheol Shin, LG has drastically upgraded itself and stayed on top of the latest technological advancements.
LG is now a name known all over the world with quality appliances and other products. The 24,900+ employees working for LG strive to bring quality products to every doorstep. Revenue of $25 billion is what LG has managed to achieve with its hard work. Tesla needs to check the success of LG over the years.
1 Reason It Will Stay Number One: Helpful to Competitors
Tesla has a market capitalization of about $620,000 per car and has sold about 125,000 cars of the different models since 2008. With its sales model being legal in 48 states in the US, Tesla has really reached out to everyone. Tesla stays in the number one spot because it helps competition by giving away patents for free. This is great as others can create more developed products and increase the target points in technology. Tesla creates such a wonderful atmosphere for innovators that it is special to work for the company. This is another great reason why Tesla will stay at the number one spot for a long time to come.