Elon Musk’s electric vehicle company Tesla has been riding the waves of success as smoothly as it can get. Smashing experts’ expectations of it with its latest quarter performance, it is slowly expanding its reach to the global market to cement its dominance in the field.
With its innovative technologies that it develops and sells to its loyal consumer base, there is another thing that the company is doing right now. As Simon Alvarez argues in his opinion piece for the website Teslarati, the company has been changing the landscape for legacy Japanese automakers as they fail to catch up and ride the waves of change Musk has started with Tesla.
Tesla is actually small compared to other legacy car manufacturers but the way he sells and markets Tesla pushes the boundary for modern-day transportation. In the same article, Alvarez suggests that Musk is not selling cars.
One may be puzzled by this proclamation because of course, he is selling cars. But what is meant by this is that the company is exploring the software aspect of the cars while other Japanese legacy car companies such as Toyota focus on the hardware improvements of their car models. Essentially, Tesla is trying to sell an iPhone on wheels, Alvarez proclaims, which also according to him is helping the company make itself adaptable to the future changes in the automobile industry.
Tesla is undeniably is going head-on with innovating its products as it crowns itself the undeniable king in sustainable auto transport manufacturing. Alvarez suggests that legacy carmakers can catchup with Musk in the EV game with its large pool of talents and resources but it has become evident that these companies are resistant to change. Tesla may be small compared to other industry giants but its unique structure and how they do things let it adapt to change faster and more efficiently than the rest of the bunch.
“Tesla moves fast, fails fast, and innovates fast,” Alvarez says.
Innovation is key to survival in the industry and the company is proving it as it moves forward to its next business plans. They have already proven this point and have their efforts paid off. Tesla is on its way to complete its Giga Factory in Germany, it has captured the majority of EV market shares in China, and they are now the most valuable car manufacturer in the world – where it snatched the crown from, guess who, industry giant Toyota.