Only those who have been taking up residence underneath a rock will not have heard of Tesla. This is because it seems that the company is mentioned in headlines every day given the explosive growth the company is seeing. As many will know, Tesla is a manufacturer of EV vehicles, which are vehicles that are powered by electric power only. However, there may be many wondering just how Tesla managed to soar so high within a relatively short amount of time. This is because the share price of Tesla was only $17 at the time of going public, which was 2010. Today, it is worth over $1150.
This kind of growth is incredible, and one that many have sought to understand why it has happened. The answers may be clear to see though if one considers the current attitudes towards cars around the world. Especially after the recent scandal involving diesel cars, there have been more people that are looking for more sustainable means of getting around. Of course, there is always the option for bikes or even walking, but this is not feasible for most people, especially for commuters. This is why electric cars appear so attractive. They give fast acceleration, great running costs and zero emissions which are three clear advantages that they have over traditional cars. This worldwide desire for electric cars has been labelled as ‘EV frenzy’, and since Tesla is currently the one EV manufacturer ahead of everyone else in terms of technology, it is clear to see why Tesla has grown so much.
The growth of the EV market has been enormous, and the kind of rise it is seeing is mirrored in other industries such as gambling. This is because many places are starting to legalise the activity, especially in America. Considering this, things like betting in New York is completely legal to engage in and may be a primary reason why the industry has grown so much. Another reason why Tesla has seen an astronomical growth can be put down to how the scale of their production.
It is no secret that Tesla is the best in the business when it comes to making EVs, though it is likely that others will eventually catch up. One of their strengths is their ability to make cars on a massive scale, due to their production factories. The company is always looking to open more factories though to grow the business even more and has recently targeted Germany as the next location for a ‘Gigafactory’. This kind of production is another reason why Tesla has been able to grow so much.
Another factor that can be attributed to the growth of Tesla is the CEO himself, Elon Musk. CEOs are generally secretive people, but Musk has enjoyed coming into the limelight and is very active on social media. This allows Tesla to have a trusted face of the company and might sway some people in favour of the company over rivals.
It is clear that Tesla has seen a wild growth in recent years, and it is likely that the company will grow even more as the years go by and the technology involved in EVs develop.