We could argue for weeks about aesthetics or design philosophy. Teslaboth outside and inside. But there is one thing that is absolutely real. Company under management Elon Musk shocked the entire automotive industry and accelerated the introduction of electric vehicles.
FROM Tesla Model S At the beginning of the last decade, they demonstrated that it was possible to produce luxury cars that would compete head-to-head with other brands, even if they were 100% electric. It was in 2012, when no one could have imagined that this could be achieved. FROM Tesla Model 3 It showed that an attractive electric car can be produced on a large scale, with good value for money, with great autonomy, good space, and interesting for different regions.
That’s why comparing Tesla to other big players in the automotive industry is a common occurrence. Tesla vs Volkswagen, Tesla vs Ford, Tesla vs Lucid, or Tesla vs General Motors. While this is normal, Elon Musk said that the company is fighting a competitor that is much larger and harder to beat.
Let’s remember again: Tesla doesn’t make cars.. It’s hardware and software. They are not limited to the production of vehicles and dedicate a huge amount of resources to other areas. In addition, the company’s mission is to accelerate the transition to renewable energy sources. This task is not limited to the electrification of the car park.
Therefore, it is not surprising that Tesla’s main competitor for Elon Musk is not another car company, but aramco, one of the largest oil companies of Saudi origin in the world. It is also one of the largest in the world in terms of market capitalization. They are also owners 69% SABICone of the world’s leading producers of chemicals, fertilizers, plastics and metals.
For Elon Musk, when Tesla manages to overtake Aramco in market value, it will be the day “we know the future is good for the Earth.” He, as usual, commented on this on Twitter, replying to another person.
For Elon Musk, Tesla should outperform the oil companies as proof that renewable energy production has far greater value.
The day when Tesla outperforms by market capitalization aramco and other oil companies, we will understand that the market considers the production and use of products based on renewable energy sources more valuable. This will be the result of a change in the general philosophy of the world.
Also, given that much of the auto industry is ramping up efforts to electrify their vehicles, they are not necessarily Tesla’s competitors. This may change in the future when all cars are electric. But at the moment, all companies are on the same path of transformation.
At the time of this posting aramco Its market capitalization is $2.4 trillion. Bye Tesla it is 786 billion dollars, although it has reached one billion. There is still a long way to go.
Much of the automotive and electric power industry is turning to renewable energy sources. Largely under pressure from regulators who had to set deadlines for its transformation. So a future where Tesla has a larger market cap than Aramco may not be all that far-fetched.
Source: Hiper Textual