Featured image: ARK Invest
Tesla Model 3 is far ahead of any existing EV, being twice as efficient. Tesla's battery, control system, and electronics system allow it to work quickly and efficiently, yielding both high performance and long range.
Electric transport is one of the most important components in the world's transition to sustainable energy. That is why Tesla strives to make the very best EVs that are attractive and increasingly more affordable to the mass market. The main competitor of the company are gas-powered cars, however, EV manufacturers have also started to compete with each other in the hope of taking the lead in the segment.
When Tesla entered the market, the company and its CEO, Elon Musk, were the subject of mockery, and it took several years for the situation to change. Due to the fact that automakers did not take Tesla seriously, they were in no hurry to create quality electric vehicles. While they delayed the process and invested in the creation and deployment of systems that hide the real emissions readings for their ICE cars, Tesla invested in the creation and production of advanced developments that ultimately made its electric vehicles the most productive and efficient in the world.
Sam Korus from ARK Invest takes a look at the competitive environment of EV, from the point of view of Efficiency vs Acceleration vs Range.
Imagine having to wait ~4 years to release a better car. Tesla's most recent Model 3 update separates it from the pack even more. pic.twitter.com/4pnT7m9VG8— Sam Korus (@skorusARK) October 16, 2020
Efficiency vs Acceleration vs Range is a good framework for looking at the EV competitive landscape, recognizing the tradeoffs automakers face and understanding how Tesla's verticalization makes it hard to compete with, explains Sam.
Manufacturers can make a fast car, for instance, but it can be less efficient, like the Porsche Taycan. At the same time, EV can be created as an efficient car, but it will be slow. The truth is that only painstaking work and an impeccable understanding of how to achieve a goal will allow a manufacturer to create a quick and efficient vehicle.
The Tesla battery, its control system, and in-house power electronics allow Tesla cars to operate both quickly and efficiently.
When competitors try to compete with Tesla in acceleration, they end up with a less efficient car. The less efficient the vehicle, the more expensive it is to increase range, as fewer miles per kWh are added.
In fact, the problem for automakers is that they lack the relevant experience, matching Tesla's EV drivetrain expertise (battery cells + pack, power electronics, management software, motors). With all this in mind, it becomes clear why Tesla stands out from the crowd.
Tesla has gone even further, and improves its cars right in the middle of the production process, without waiting for the release of new models or a new year. Thus, the company is constantly improving what it already has, which makes even its old cars more productive than new vehicles created by competitors.
The latest update to Model 3 has made it even more exceptional, making it twice as efficient as the competition's electric vehicles. This is why it is highly unlikely that competitors will be able to catch up with Tesla, even after 10 years.
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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.