Tesla Motors Elon Musk successfully established Tesla Motors as one of the leaders in the electric vehicle industry since his induction as CEO in 2008. Tesla Motors designs, manufactures, and sells electric cars and powertrain components. The company also provides services for the development of powertrain systems and components, and sells electric powertrain components to other automotive manufacturers. It markets and sells its vehicles through Tesla stores as well as over the internet (Mora 2014, 1). Consumers and companies are looking to save at the pump, and what better way to do so than with electric vehicles (Mora 2014, 1)? Through government support and raised capital, Musk has put Tesla in an advantageous position to
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Many established and upcoming automobile manufacturers have entered, or plan on entering this market. For example, BMW, Cadillac, Porsche, and Audi are promoting new plug-in models aimed at affluent consumers (White 2013, 1). Established luxury brands are muscling on to Tesla's turf in part because government policies are forcing them to, and in part because they see Mr. Musk peeling away influential trendsetters they don't want to lose (White 2013, 2). The impact of these new luxury plug-ins on Tesla will depend on whether they are trying to expand the segment, or merely go after the same consumers. With Elon Musk’s plan to increase production of the Model S, while introducing two new vehicles by 2015 and 2017, the Model X and Gen III, we should expect to see continued success from Tesla Motors. If Musk successfully reduces operational costs and offers consumers an affordable Tesla model, he may trigger an amazing turning point in the auto industry and leave a lasting impression on the world.
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Ingra, Antony. "Tesla Gains In Brand Awareness." Green Car Reports. High Gear Media, 4 Feb. 2013. Web. 13 Mar. 2014.
Mora, Victor. "Is Tesla Motors an Attractive Investment?" Wall St. Cheat Sheet. Wall St