Tesla Electric Inc.

Summary

Tesla electric is an American brand known for the production of electric vehicles and clean energy. The company produces electric cars, energy batteries, solar panels, and other types of products and services in the form of energy. Currently, it is the leading producer of plug-in-vehicles generated by electricity. Tesla Company aims to accelerate transitions of the world’s sustainable energy by introducing a high-performance sports car that is an electrical Tesla Roadster.

The Roadster sports car will be capable of traveling up to 244mi using a single charge that contains a battery pack of lithium-ions amounting to 109,000 thousand dollars. They aim to target high-tech within the automobile market that’s making the company different from traditional automobile makers that have sustainable auto-mobile friendly cars. With the introduction of Roadster, the company aims to enter the high end in the market and have a competitive strategy for both segments. They also consider low-price buyer’s interests.

Furthermore, they have introduced their supercharger stations in different countries across the globe and opened showrooms. This will increase the speed rate of people adapting to electric cars. The strategy used by tesla has created new markets in other countries leading to the company been ranked as the best-selling electric vehicle. The company has been able to produce many cars within the second quarter of the year and experience a 4.8% decline compared to other quarters that led to a historical record for the company. The company is said to be experiencing more profits than losses when it comes to spending since they do not spend any amount on advertising than other companies that spend a large amount on marketing.