Tesla Motors is revolutionizing the ways that people have imagined vehicles. The company was founded by an engineering group in 2003 and is speeding up the evolution of humanity towards renewable energy. Tesla proved that consumers do not have to sacrifice other aspects to enjoy electric vehicles. Electric vehicles will provide an improved experience for the driver and are faster and more enjoyable than gasoline vehicles. The top-selling battery electric car manufacturer, through the sale of vehicles in 2019, is now proving to be the world’s leader in battery capacity.
Elon Musk, who is the chief executive chief executive officer of Tesla, is one of the most famous figures of the present. He has revolutionized transportation both on Earth as well as in space. Elon Musk, through his groundbreaking previous ventures, such as PayPal, SpaceX, and The Boring Company, across three distinct industries, is a remarkable visionary and entrepreneur. From the beginning, Musk had a solid strategy for achieving his ambitious goals for business set by Tesla. Musk’s goal was not to try an electric sports car that was only available for one time when the first roadster sports automobile, the Roadster, was released in 2008. He intended to create mass-market vehicles using Electric batteries. Musk had a clearly defined idea and a long-term plan prior to when the first Tesla came off the production line. Everything at Tesla occurs by chance, and the concept was driven by the company’s relentless commitment to technology. It’s always been about technology as well as technology and engineering to Elon Musk. While many sneered over his ideas, Musk determined to build vehicles that utilized lithium-ion battery technology from the beginning. At the time, with a mighty team of consummate engineers with similar interests, Musk delivered to the world a range of cars that were quicker, more elegant, more durable, and more fashionable than their predecessors.
At Tesla Motors, cutting-edge technology is all that matters. Musk was an engineer who has been focused from the beginning on developing the most reliable technology-based product. Technology was his passion. The technology of Tesla is superior to that of many other car manufacturers. Some of Tesla’s critics admit that Tesla is so ahead of its competitors in terms of the development of research and technology and technological advancement that it’s difficult to imagine their competitors in the same category.
Peter Thiel, an early investor, was mentioned in his autobiography Zero to One on Tesla Technology: “Tesla’s technology is so good that other car companies rely on it: Daimler uses Tesla’s battery packs; Mercedes-Benz uses a Tesla powertrain; Toyota uses a Tesla motor. General Motors has even created a task force to track Tesla’s next moves. “
Tesla realized right from the beginning that the most important aspect of getting an EV right is the battery. It could mean the most crucial factor in determining success or failure. Tesla constructed its battery plant in Nevada, named the Giga factory, which can produce 500,000 vehicles in 2020. It is cooperating with the top companies in the business. Additionally, Tesla took its distribution as well as maintenance and service on its own and did not select an agent. In the year 2012, Tesla constructed charging points that are known as Superchargers to speed up the charging of vehicles. They are known as Tesla Stations.
Tesla has been incredibly successful in the USA market, with its market cap reaching $140 billion. That’s higher than GM, Ford, and Chrysler altogether. This is a remarkable feat for a business that is still not yet at the point of breaking even. Tesla is a great achievement in a marketplace where established giants like GM, Ford, and Nissan were unable to compete in the electric vehicle market.
India’s Suggested Business Model For Building EVs
The Indian automotive market is at a crossroads. The stringent environmental standards have made OEMs spend a lot of money on IC engines. In a highly price-sensitive market, this is taking a bite out of their profits. It is important to note that the Indian government is extremely keen on strict control of emissions and has announced a time-bound strategy to transition towards electric cars. The government is aiming to have 100 % electric vehicles in 2025. In an industry that places as no. 4 worldwide on annual vehicle production and has very little electronic vehicle use today, this is a huge undertaking.
In the present Indian market, many new players are entering the electric vehicle segment. The majority of them are three-wheelers, and some are in the two-wheeler manufacturing. A lot of the new entrants are taking the opportunity to create a quick and profitable breakthrough by simply importing kits from China and then selling them in India. They compete in the lower portion of the three-wheeler market and are the dominant e-rickshaw segment. These segments of vehicles are filled with early-movers who rely on imports at a low cost from China. There is an excellent chance that is ripe for Indian players to start manufacturing EVs that are designed and developed in India.Development. A properly-planned R&D car based on the latest technology could be a formidable competitor for long-term success.
Indian businesses should consider adopting the Tesla model in their companies with attention to the following objectives:
- Put your money into the highest level of technology, backed by an engineering team led by a seasoned industry professional.
- Decide to adopt “Make In India” right from the start and ensure the supply chain is working. With localization targets from the start. 100% local content and no imports. Utilize local powertrain and battery supplier partners.
- Don’t just sell the car. Offer an end-to-final solution for the client, which includes the vehicle as an option. Provide a complete mobility solution that is more than just a vehicle. Adopt hardware-as-a-service model
Three-wheeler makers must create reliable vehicles that will alter the way that the market considers the three-wheelers in the present. The image of the market as a shabby, poorly designed, low-end, ragtag three-wheeler has to change thanks to the growing 1 million annually produced vehicle segment. Modern OEMs have to collaborate with design houses and invest in modern and stylish designs for the body made of metal. In terms of performance, e-manufacturers must make sure that the battery is performing well with the most efficient thermal management system as well as a highly efficient drive train. Safety is also an essential aspect of EVs. This is what makes the difference between a standard and an elite product.
In the post-COVID-19 world, environmental protection is the only one to gain as nature has been regenerating itself. It will transform the way we live in our society, giving safety and health precedence over other aspects. Therefore, it is crucial to ensure that the battery vehicle is the right product. This is where the emphasis on reliability, quality, and innovation comes in. A supply chain that has reliable suppliers for crucial components such as Li-Ion batteries has to be created. India needs to identify supply with critical materials and start its massive battery manufacturing up and running. The selection of the battery technology must be made with care, and a security protocol must be established. India is required to join with other countries for the supply of lithium,m copper, cobalt, and other materials and minerals for mass-scale security of energy. In the case of demand,d businesses that succeed will build a pan-India network to provide mobility as a solution. Automobile manufacturers must begin looking at export markets now. Collaborations need to be formed in countries such as ASEAN, Africa, and Latin America, in which there is likely to be a massive demand for these cars.
Every manufacturer of electric vehicles in India that has the above vision of manufacturing must strive to become an elite producer of EVs.
To be our own Tesla of two and three-wheelers is the ideal vision for the future of electric vehicles.