Tesla Inc. (NASDAQ: TSLA) is Changing Electric Vehicles Industry, But Is China a Threat to TSLA?
By Ali Hassan on ALTCOIN MAGAZINE
The Electric Vehicle Industry is growing rapidly and it will be a trend in the future. The fast-growing technology of the world has enhanced everything. Like, we can see the block-chain industry growing so fast. Just like any other industry EV is also flourishing very fast and this will bring a new revolution to the automobiles industry. Tesla Inc. (NASDAQ: TSLA) is developing some great cars and one of its recently launched cars like model 3 is being delivered across the US.
Recently, Tesla vehicles completed one billion miles on the autopilot mode. Autopilot was introduced back in 2015 and today Tesla have acquired a milestone. This system is also known as the semi-self-driving system. This feature will be available on all new cars depending on the buyers if they want this hardware to be activated on their vehicles.
This technology comprises some new multiple features which will change the course of the electric vehicles industry and will be a joy for the users. A user posted a short video on Twitter in which he was using mobile to control to a car, Elon Musk the owner of Tesla Inc. retweeted it while stating:
“You can summon your Tesla from your phone. Only short distances today, but in a few years summon will work from across the continent.”
We use to see such things on mobile phones, with new technology on it. Everything in the world is being evolved from time to time. Now we can see the Automobiles turn into the Electric Vehicles, courtesy firms like Tesla Inc. In the coming years, we will see other car manufacturers coming up with electric cars.
At the moment, the biggest competitor of Tesla Inc. is BYD Auto Co., Ltd. It is a Chinese electromotive firm which is producing electric cars. Tesla Inc. (NASDAQ: TSLA) is an American firm whereas BYD is a Chinese firm and we can already see the economic war between the US and China. China is becoming a stronger economic power every single day, which is a threat to the US economy. Ultimately is a massive threat to US stock firms and US stock market.
But many factors on the paper are going in favor of BYD because it’s a Chinese firm and China is heading to be the next economic power. One other factor is BYD’s Partnership with Vechain (VET). VET is a blockchain firm and with this partnership, BYD will be producing cars which are carbon-free, which means they will be more environment-friendly.
BYD has also launched the world’s biggest battery factory, whereas Tesla is waiting for permission from the Chinese authority for its launch of car factor in Shanghai. Tesla Inc. Already announced that they plan to build a factory in China so they could produce up to 500,000 cars per year for the Chinese market. As we can see Tesla announcing its car manufacturing factor in Shanghai, China already has the edge to keep a hold on the Electric Vehicles. But we need to see what Tesla Inc. (NASDAQ: TSLA) plans for the future and how does the market go? But, at the moment Chinese market is a threat to Tesla Inc. but can also hope that TSLA has the capability and the resources to cope up with that.
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