Tesla faces another looming threat, not from common rivals, but from a new entity. One Chinese firm aims at surpassing Tesla on the race for sales and dominance in the market of self-driving cars.
The Financial Review disclosed that the goal of outwitting Tesla is one of plans that Jia Yueting, a billionaire entrepreneur wants to achieve. He is starting up his electric company that aims to dominate and outrun Tesla in the car market. To prove the latter, "Tesla's a great company and has taken the global car industry to the EV era," Jia stated in Beijing.
In addition, "But we're not just building a car. We consider the car a smart mobile device on four wheels, essentially no different to a cellphone or tablet. We hope to surpass Tesla and lead the industry leapfrogging to a new age," Jia added.
It is incontestable that the EV market is gaining more demand in the global sense and some start-ups have seen the potential of the segment in the market. China in a way set the pace and the tide and in that region, a wave of EV companies has led to more rising competition for Tesla. To showcase his aims, Jia unveiled his company's prime runner to contest Tesla Motors. The LeSEE electric concept supercar is forecast to overrun the Tesla Model S in the run for supremacy and revenues.
It remains uncertain on whether Tesla is seriously being threatened by the rising competition from the Asian markets. However, it stands to reason that Tesla is not giving up all of its cards just yet. Independent reports that by the year 2020, Tesla intends to produce an ambitious 500,000 units.
According to the same post, the Model S, which is a full-sized, five-door saloon is Tesla's primary flagship product and it features the strength and willpower of Tesla to depict its firm reliance in winning the market sector.
It remains unclear on whether Jia Yueting's plan would impede Tesla's growth nor be considered as one of the threats in terms of the market for sef-driving cars, but given the volatility of the market and business industry, nothing is ever decisive in the world of business and trade.
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