Should Tesla Be Worried About the Competition?

Tesla has had the electric vehicle market cornered for quite a while now. Is it time for the upcoming competition to take over or will Tesla keep going as the most well known when it comes to EV’s? The problem Tesla had, to begin with, was that it wasn’t a car that suited anyone’s budgets. Although now, some of the company’s newer models are coming down in price and becoming much more affordable and family friendly.

With the help of Elon Musk, Tesla is a company that is growing substantially. Every year deliveries are doubling, with an expected number of half a million by 2018. Currently, almost 400,000 people have pre-ordered the Model 3 at $1,000 each, with shipments hoping to go out to customers late next year.

Tesla is responsible for creating a market that previously did not exist, but more competitors are now joining in the race. The new Chevy Bolt went into production last month and at $30,000 a pop (after tax incentives) is expected to have a range of around 240 miles from one charge. This could certainly give Tesla a run for its money.

Cars aren’t the only mode of transport getting an electric overhaul. Ideas of electric freight trucks are also being discussed. Uber has also just taken on a revolutionary change with their ride-hailing service by implementing self-driving models into the mix. But still, Tesla prevails as the leader in autonomous transport and being the most successful all-electric car company so far, and the monopoly ultimately lies with them.

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