Model 3 is a great example of how a Tesla's vehicle, created just a few years ago, is still an elusive leader for other electric vehicles--eve ones introduced this year. Sam Korus from ARK Invest points out that Tesla continues to achieve an incredible degree of innovation, which gives the company's vehicles top-notch performance characteristics while still being very competitively priced.
In an attempt to catch up with Tesla, competitors make compromises to reach a certain price range, and on the way to find and implement them, they get stuck. According to Sam, competitors spend 3-4 years at this stage, after which they release a new car, but during this time it becomes significantly outdated and irrelevant compared to Tesla. Legacy automakers have been stuck in a bottleneck for years.
Here is a dynamic version of the chart: https://t.co/xaJhoirfaV— Sam Korus (@skorusARK) November 6, 2020
This one is for all the 3D chart haters. But I appreciate all the feedback.— Sam Korus (@skorusARK) November 6, 2020
Feel free to comment with an EV, its EPA range, battery size (kWh), and a link to a credible source. pic.twitter.com/KU4PUudc0l
And even as automakers make strides of progress, Tesla remains moving target, and has further advanced its technology. Tesla CEO Elon Musk has always been concerned about getting the best specialists in the areas in which the company is working or is going to work in the future. By acquiring and creating various breakthrough startups, Tesla unites them all with a common goal. Tesla then manufactures and offers the most innovative products, which are aligned with its sustainable energy values, and are ones its customers truly love. So far it seems that there is just no replicating what Tesla is doing.
Tesla's policy is that, once they develop something that can improve their product, the company updates their cars during the production process--real-time--rather than waiting a few years for new models to be released. Tesla achieves these constant improvements at such a rapid cadence that competitors simply cannot catch up.
© 2020, Eva Fox. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.