Tesla was founded by Martin Eberhard and Marc Tarpenning on July 1, 2003. In February 2004, the company raised millions, including Elon Musk as one of its investors. However, by settlement of the lawsuit, it became possible for Elon Musk to be called its co-founder. After a few tussles, including Eberhard stepping down as CEO, becoming President of Technology and finally leaving the company in 2008, Elon Musk became its CEO. From then to now, he has been the eccentric CEO who has propelled the company to very high peaks.
Recently, Tesla moved its incorporation state to Texas because a Delaware judge ruled against the board resolution that could have awarded more than 50 billion to Elon Musk. Today, Tesla's shareholders have passed the exact resolution from Texas.
So, who really are Tesla's competitors?
When it was started, Tesla was a unique company. There were few competitors who wanted to succeed in electric vehicles. But now, there are many companies competing for the same market share.
Ford
Ford has quite a lineup of electric vehicles. F-150 Lightning is a truck that runs on electric power. Ford's pickup trucks are always popular, and the company believes this model will help cement this in the electric category.
It also has a Mustang Mach E -an SUV, and another model called E-Transit - a van.
Ford is also boasting about its BlueCruise technology, which allows the driver to be hands-free on highways. This is nowhere close to Tesla's FSD, but analysts say it is a start.
General Motors
General Motors is another auto company that has caught up on its EV lineup. GM has an impressive lineup of more than 9 EV models, including its iconic Cadillac and Chevrolet brands. As for its autonomous driving capabilities, it says that Cruise's proprietary technology could rival Tesla's in the coming years.
Rivian
Rivian is a unique manufacturer with three models—R1, R2, and R3—aimed at Adventure Electric vehicles. It has a driver assistance system but cannot rival Tesla's. But Rivian's target is off-road, and an off-roader would want to drive the car anyway.
BYD
BYD is a Chinese automotive company that produces electric vehicles marketed to Europe and the Americas. The company has more than 10 different models and also sells trucks and buses. BYD is soon becoming Tesla's major competitor.
It is safe to say that Tesla has more competition than in the last decade. Still, it must be noted that Tesla is currently the market leader in autonomous driving. We hope that Elon Musk's antics do not get in the way of innovation at Tesla.
