When it comes to electric vehicles, Tesla Motors is a household name. The company is currently the largest producer of electric vehicles and the second-largest automotive manufacturer in the United States.
General Motors (GM), Tesla’s largest competitor by far, launched its own line of electric cars with the Chevrolet Bolt EV in 2016. This all-electric vehicle competes directly with some of Tesla’s most popular offering. GM generates more than $163 billion in annual revenue and operates a wide variety of automobile brands ranging from luxury models to SUVs and sedans.
Volkswagen Group (VW) is another major competitor to Tesla, with the German automaker having recently launched its own electric sub-brand, VW ID., and offering up a variety of battery-powered models like the VW ID.3 hatchback. While Teslas are available globally, VW is found in virtually every country across six continents, something even many other leading automakers haven’t achieved yet.
Ford Motor Company is another major competitor to Tesla when it comes to developing affordable EVs for mainstream drivers. Ford introduced their Mach E all-electric SUV in 2019 at a price point roughly half that of some models from Tesla’s portfolio, demonstrating that there are more affordable alternatives available in addition to premium options.
Despite the fact that many companies from all over the world are currently investing in electric vehicles, none of them, not even General Motors (GM), Volkswagen Group (VW), Ford Motor Company, nor any of the others, come close to matching Tesla when it comes to making clean energy transportation truly stylish and aspirational for buyers everywhere.