It achieved 245 miles (394 km) on a single charge, a range unprecedented for a production electric car, according to Britannica encyclopedia. This success followed with the production of a fully electric luxury sedan, the Model S, which was followed by Model X, a crossover between the two. As of March 31st, 2016, a new model, the Model 3 has been revealed. The Model 3 is a more affordable and less luxurious prototype, for average people looking to help the environment. The mission statement of Tesla Motors Inc. as pointed out by CEO Elon Musk himself, “To accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible.” Says Musk.
It shows how as Tesla continues to innovate, it’s leading the auto industry, and it’s far ahead of competitors when it comes to developing electric car battery technology,” (Fehrenbacher). Tesla has improved on its battery chemistry to further the range of their cars, and even increase acceleration. The new battery will be introduced into the Model X, their SUV, and the Model S, their sedan and will keep the electric range of those vehicles much higher than the competition. The other benefit of electric vehicles is the immediate availability of power and torque. Tesla has taken advantage of this physics phenomenon and stored 792 pound feet of torque in their sportiest model, the Tesla Model S P100D.
Company Background Tesla Motors was founded in 2003 by a group of intrepid Silicon Valley engineers led by successful business owner, Elon Musk as another one of his top successful ventures over recent years past. They utilized Nikola Tesla into their brand name because their engine model was created using his personal models and technology. Musk’s goal revolves around accelerating the world’s transition towards electric mobility through providing a range of increasingly affordable electric vehicles, while simultaneously catalyzing innovation within the industry. The company designs, manufactures and sells electric vehicles and electric vehicle powertrain components. They are also the only automaker providing highway capable electric vehicles in North America and Europe.
Tesla Motors Case Study Tesla motors is a company that produces and sells automobiles. Tesla is not any old automobile company. Tesla specializes in all electric cars that run 100 percent on battery and focuses on the future. Tesla is looking into the future and realizes that fossil fuels will eventually run out. Tesla is moving toward a zero-emission future for the better.
The innovation has had the backing of the investors with a lofty market cap of $30 billion thereby translating into a significant innovation premium. This premium has helped the Company contest to the topmost of “Forbes Most Innovative Companies” ranking in 2005 and stays in that positon further maintaining position one for the year 2016 classification (Gregersen, 2016). Discussion Subthemes The subthemes are desirable electric vehicles and transforming Auto industry from ICE vehicles to electric vehicles. These two themes are relevant to the global connections. To begin with, the Tesla has produced desirable electric vehicles which go faster and further than any other electric vehicles (Gregersen, 2016).
“Quality is up. Consumer Reports say that Ford vehicles now rival the best from Japan.” (Newman, pg. 1). A.C. (American Cars) is now rivaling some of the best cars in the full size luxury division. The Cadillac CTS has been named Motor Trends 2014 Car of The year because of its twin turbo engines, eight speed transmission, and comfortable ride.
Other auto companies are catching up in the meantime. Many of its competitors have incumbent advantage of manufacturing and production. Furthermore, they have well established service networks and have developed strong customer loyalty over the years. In my opinion, Tesla Motors are headed in the right direction with building their brand but with time, diversification of their product line, creating and maintaining competitive advantage, establishing electric car culture in society will decide their fate as a successful brand.
Tesla's CEO, Elon Musk, has said he envisions Tesla as an independent automaker, with the goal of eventually offering electric cars at a price affordable to the average consumer. Lithium- ion cell commoditization and high-end product strategy shield the company from significant interdependence and integration risk. Tesla Motors is a public company that trades on the NASDAQ stock exchange under the symbol TSLA. In the first quarter of 2013, Tesla posted profits for the first time in its ten year history. Tesla raised $60 million and spent about $25 million developing its two-seat Roadster vehicle that sells for $109,000.
Tesla has big plans for the future. However, the plans will not be necessary unless Tesla is allowed to sell their vehicles directly to the consumer and not through dealerships. There are several great traits about Tesla vehicles. The model S, which is Tesla’s first sedan, is Consumer Report’s “top pick” in the survey. Not only were they top pick in the sedan class vehicles, but they were also the overall top pick among consumers.
up until 2010, every hybrid vehicle operates using a Nickel-Cadmium battery pack to store power for its electric motor. While it is a great, durable and proven technology, NiCad has some rather serious drawbacks. It ... ... middle of paper ... ...t means their yearly fuel costs are lower. But for shoppers interested in saving the most money, a hybrid may not be the way to go. Electric cars can start at 20,000 dollars and increase as you move up to nicer companies.