Tesla is the manufacturer of electric
cars and energy generation and storage products that was founded in 2003 in the
United States by Martin Eberhard and Marc
Tarpenning and was named after the Croatian inventor Nikola Tesla, who was
responsible for great discoveries in the field of electricity.
The company was born
to produce high-quality electric cars that could go faster than
gasoline-powered vehicles, and seeking to create an entire sustainable energy
ecosystem for its users.
Today, Tesla employs
48,000 people and generates revenues of $ 24.6 billion (2018). It is
headquartered in Palo Alto, California and it has factories in North America,
Europe and Asia, where vehicles are produced, assembled, stored and distributed.
It also has loading sites and administrative and sales offices.
Palo Alto, CA, USA
Common Stock of NASDAQ
Tesla similar companies:
Toyota, Volkswagen, Hyundai/Kia, General Motors, Ford, Nissan, Honda, Fiat Chrysler, Li Auto Inc, Renault, Nio Inc, Nikola Corp, Canoo Inc and Group PSA.
Who is Tesla’s biggest competitor
competitor of Tesla is General Motors, the American car manufacturer that was
founded in 1908, employs 180,000 people, and has operations worldwide. The
electric vehicle market outside China is led by Tesla, which generates revenues
of $21 billion in this segment and has 48,000 employees. GM is positioned in
the second place of EV sales in the US. Together with Tesla and Nissan, they
account for 62% of the market share.
How the company makes money
main source of income is the manufacture and sale of electric vehicles and it
is the leader in the e-vehicles
sales outside China. In 2018, this segment generated revenues for $ 20.8
billion. Currently it produces in Shanghai the Model 3 for the mass market, the
Model Y, a sports vehicle armed on the platform of the M3 with capacity for
seven adults that has been produced since January 2020, the Model S, a
four-door sedan with touchscreen driver interface and autopilot hardware, and
the Model X, a mid-size SUV that has been sold since 2015.
ENERGY GENERATION AND STORAGE
the power generation and storage segment represented revenues of $ 1,531
million for Tesla. It includes Powerwall, the brand of rechargeable lithium-ion
batteries designed to store energy in the home and small commercial premises;
the Powerpack and Megapack brands, which make it possible to form large
facilities capable of reaching gigawatt hours or greater. Both combine with
renewable energy sources to provide clean, resilient and accessible energy for
Toyota is one of the
pioneering companies in the global automotive industry, which was created in
Japan in 1935 by Kiichiro Toyoda. With 380,870 employees, it generates annual
revenues of $ 271.87 billion and produces 8.9
million cars a year through its 53 factories in 28 countries, which are sold in
Toyota began dabbling in alternative
fuel vehicle manufacturing in 1997 with the Prius hybrid model, which managed
to become massive around the world. Hybrid cars have engines that combine
conventional gasoline with electric motors to gain more power with higher
performance. Although they have a gasoline tank, they require a lower frequency
of charge. The company commercializes hybrid models such as the Prius, RAV4,
Highlander, Avalon and the successful Corolla.
In 2019, it introduced the 2019
Mirai, first fuel cell electric car with advanced technology and plans to
introduce more versions by 2025 to compete in a market led by Tesla.
Volkswagen is the German company created by
the Adolf Hitler government in 1937, born to make a fast and cheap
mass-produced car. The company was known as “The People’s Car
Company” and operated under Nazism until the end of World War II when it
fell into ruins. Later, the Allies took control and resurrected the German
automotive industry. Today, it is a global company that sells 11 million cars a
year and in 2019 generated revenues of $ 271.9 billion, employing 667,748
people in all its facilities.
Volkswagen introduced its first
electric vehicle in 1970, the T2 Camper, which had a range of
70 kilometers and was easyly chargeable. In the 1980s, it introduced the Golf I
City STROMer. Currently, it markets the e-up lines! and e-Golf, and in 2020
presented the I.D. family, based on the new Modular electric drive matrix. The
company plans to manufacture 330,000 electric cars of its ID.3 model in 2021 to
compete with Tesla Model 3.
Hyundai is the Korean car manufacturer, which was founded in
1947 by Chung Ju-Yung who, in the post-war period of World War II with the aim
of rebuilding and re-industrializing the country. In 1968, it launched the
first vehicle, “the Cortina” model in alliance with Ford. Ten years
later, the Pony was introduced, which became the first mass-produced car in South
Korea, created with British engineering and Italian design by Giorgio Giugiaro.
Hyundai started exporting to
South America, Europe, and North America and by the beginning of the 21st
century, it was one of the leading automakers in the world. Currently, it sells
396,569 units worldwide and obtains sales revenues of $ 84 billion. Its largest
production plant is in Uslan, with a production capacity of 1.6 million units a
In 2017, it launched its first
Hyundai Kona electric car, an SUV that was sold worldwide each year. In
addition, since 1998 it works in alliance with Kia Motors, where it owns the
third part, in the production of new models. Together they reach a market capitalization of $ 30
General Motors is the American
vehicle manufacturer, which was founded in 1908 by William Durant, who had
started out producing horse-drawn carriages. Originally, it belonged to the
Buick Motor Company and over time acquired more than 20 companies, including
Cadillac, Oakland, and Chevrolet. Currently, it has 180,000 employees and
operates on six continents.
The company generates automotive
net sales and revenue for $ 133 billion a year and in 2019,
sold 7.7 million vehicles worldwide. For more than 100 years, GM has innovated
in vehicle production. In 1996, it introduced its first mass-produced electric
vehicle, the General Motors EV1, and grew to currently manufacture 14 models.
The company works with an integrated solution that enables the self-driving
vehicles at scale.
Ford Motor Company is the United States auto factory founded by Henry
Ford and 11 investment partners in 1903. The brand produces passenger cars,
trucks, tractors, auto parts, and accessories. Headquartered in Dearborn,
Michigan it generates annual revenues of $ 160.3 billion (2018) and employs
199,000 people. In 2018, it sold 5.9 million vehicles worldwide.
Ford entered the electric car
industry in 1998 with the Ford Ranger EV, a compact, battery-powered pickup
that was commercialized until 2002. In 2011, it launched the second model, the
Ford Focus Electric hatchback electric card. In 2018, it acquired the Michigan
Central Station that it plans to transform into a railroad station where it
will work on the development of autonomous electric cars and will design the
transportation operating system to facilitate sustainable mobility.
Nissan is the Japanese automaker that was founded in 1933 by
Yoshisuke Aikawa. A pioneer in his country, he helped develop the national
automotive industry. Currently, it employs 138,893 people and generates annual
revenues of $ 104.2 billion through the sale of
5.5 million vehicles globally. It has production and office facilities in
Japan, the US, Mexico, Europe, the Middle East, South Africa, China, and
Nissan has six design centers in
four countries and production plants in 16 countries. It also has more than
10,000 distributors worldwide. Its first electric vehicle was the Tama Electric
model released in 1947, and by the 1960s it was launching new models and
selling numerous electric-led units. In 2009, it introduced the five-passenger
Nisan Leaf full-electric hatchback car, which was sold worldwide.
Honda Motor is the Japanese brand that was created by Soichiro
Honda and Takeo Fujisawa in 1948, which started with the production of
motorcycles and continued with cars. In 1949, it introduced its first original
design and engineering motorcycle, the Dream D-type. In 1982, it started the
car production from its American Honda Motor Company subsidiary in the United
States. Today it is a group with 435 affiliates inside and outside of Japan, 42
facilities worldwide and 219,722 employees. Every year, it sells 31.7 million
vehicles, where 5.27 are automobiles, generating annual revenues of $ 143.14 billion.
In 1988, a group of Honda
engineers began to outline what the future would be in the car industry and
defined guidelines for the development of the firm’s first electric vehicles
(EV). As early as 1990, they had the first electric car prototypes based on a
Honda CR-X and a three-door Civic. It continued with the development of this
type of technology and in 2016 it presented Clarity Electric in the USA. By
2030, it expects to sell two-thirds of its annual sales in electric vehicles.
Fiat is the Italian
automobile brand launched in 1899 by Giovanni Agnelli that acquired 100%
control of the American Chrysler Group in 2014. With the merger, they began
trading on the NYSE and the Milan Stock Exchange. Currently, the group has
191,752 employees and its headquarters are located in London, UK. In 2019, it
produced 4.6 million cars per year and generates revenues of $ 116.2 billion.
It has hundreds of factories
worldwide, where it designs, engineers, produces, distributes and sells, cars,
components and production systems. Its first electric-powered vehicle was
unveiled at the Turin’s Auto Show in 1972. Today, the Fiat 500 plays an
important role in the electrification plans for the group’s vehicles, aiming to
reduce its total CO2 emissions across Europe.
Renault is the French car brand that was
founded in 1898 by the brothers Marcel and Fernand Renault. In 1902, it
developed the first 2-cylinder engine, which laid the foundation for the
development of the 4-cylinder engine. Today, the company has 179,565 employees
in 39 countries and 2019, it generated total revenues $59.7 million. The sales volume is
3.75 million vehicles per year, where the Clio model is the best-selling.
Renault has seven design centers, 46 engineering centers and 40 production
plants in 16 countries.
In 2012, it unveiled his first fully
electric vehicle, the Zoe model. It was followed by the Twizy and Kangoo Z.E.
models, and more recently, the Master ZE. Renault announced that more and more
resources are being allocated to the transition to electric vehicles with the creation of
hybrid models such as the Clio E-TECH and the Captur E-TECH Plug-in. Globally,
it sells 62,447 electric cars per year, representing 23.5% of its total sales.
Grupe PSA is the French car company that
is made up of the Peugeot, Citroën, DS, Ope and Vauxhal brands. It is the
second largest manufacturer in Europe with 15.4% of the market. The group was
born in 1976 with the merger between Citroën and Peugeot. Today, it has 209,000
employees worldwide and generates annual revenues of $ 80.4 billion. In 2019, its production volume reached 3.5 million
The Corsa-e model is the first PSA’s electric vehicle that was presented on
the market in 2019. It has a range of 450 kilometers and is sold in four
versions. The group announced that its brands will offer mobility solutions
that include all-electric, zero emission vehicles, or low-CO2 hybrids. The
launch of 15 new electric cars is expected in the coming years.
The top 10 Tesla competitors are: Toyota, Volkswagen, Hyundai, General Motors, Ford, Nissan, Honda, Fiat Chrysler, Renault, and Groupe PSA. Together they have raised over $ 1,500 billion between their estimated 2.4 million employees. Tesla has 48,016 employees and is ranked 1st among it’s top 10 competitors. The top 10 competitors average 246,800.
Toyota City, Aichi, Japan
Seocho-Gu, Seoul, Korea
Detroit, MI, USA
Dearborn, MI, USA
Yokohama, Kanagawa, Japan
Minato-ku, Tokyo, Japan
Tesla Competitor Crossword
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Darrell Burges - Business Analyst & Technical Writer
Darrell Burges is a skilled business analyst and a technical writer for WCS. Based on his 5+ years of experience, he writes in-depth articles about competing companies and encourages individuals to explore alternatives in the business world. He is the one who knows how to engage you in the world of competitors and explain complex concepts in simple terms.