Tesla, has achieved extraordinary results in its short existence. It has drastically disrupted the automobile industry and introduced some of the most revolutionary products, yet its viability and place in history as a sustainable company are constantly being questioned and challenged by skeptics.
The company has had several minor issues in the past with bringing enough cars to market to meet demand due to a shortage in lithium ion batteries. Tesla has alleviated this problem by producing its own batteries at its new giant facility designated to create an enormous amount of lithium ion batteries. This huge production facility will produce enough batteries to meet the demand for up to 1 million Tesla vehicles in 2020.
Tesla’s aim is to produce about 500,000 cars in 2018, and it plans to ramp up production to 1 million vehicles in 2020. The company’s Gigafactory facility will provide it with all the necessary batteries to achieve this goal.
Tesla’s technology is years ahead of the competition. Furthermore, the company’s technology keeps advancing and evolving at a rapid pace, with 2020 models likely to be able to drive for over 700 miles on a single charge.
Another, key element is the infrastructure network Tesla is in the process of building for itself. The Gigafactory, which is essentially Tesla’s very own supply of limitless batteries – the competitive advantages Tesla has in the EV market are enormous.
Tesla’s steady 30% production growth in recent years is taking market share from other companies in the luxury car segment, and the Model 3 will do the same, only in the mass market. This is precisely why Tesla’s growth potential is staggering in the auto industry. There is a Whole Lot of Available Market Share for Tesla to Capture