Tesla-Company Research Project Industrial Overview

TESLA-COMPANY RESEARCH PROJECT
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Industrial overview
Tesla has caused a ripple in the car manufacturing industry by proving the concept of practical electric cars. As a pioneer of the technology, the company has enjoyed dominance in the market but lately, more companies have caught up and they are producing electric cars CITATION Pat18 \l 1033 (Patrick, 2018). Most other automotive companies have invested in producing electric cars with notable corporations like BMW, Jaguar, Renault, Honda, Lucid, Rivian etc. Having released at least one electric car model. The industry is however not saturated and each company sales are impressive at the moment. Tesla has few advantages over its competitors due to the strategic diversification of her products. Tesla is largely an electric energy firm with strategic mergers i.e. With the solar city and being contracted to provide energy solutions to countries, companies etc. This has helped the company to develop many technologies which are patented to itself on battery technology which is the main drawback in the industry. Through its r& d, Tesla has come to dominate battery technology and is aggressively developing higher energy density in batteries to enhance the utility of its products. Tesla has also unveiled semi-trucks which are lined for production in the near future and Tesla pickups. The diversification the company is aggressively pursuing is likely to make it a dominant player in the industry.  
Market Overview
The market targeted by Tesla is global by nature. The specific demographic of the people targeted by Tesla is ecofriendly customers who are tech savvy and want entry level luxury vehicles. Thus, Tesla products are designed to specifically meet the tastes and preferences of their target clients CITATION Yur15 \l 1033 (Chen & Perez, 2015). With the increasing sensitivity on the sustainability of our planet, Tesla offers solution by producing electric cars which are far more environmentally friendly that ice cars. Tesla is currently in the lead on electric cars and at the moment there are no stiff competition in the industry partly because the market is very unsaturated. The global trend towards adopting environmentally sustainable trends especially in the transport sector gives Tesla and other electric car makers very good market. The market is so unsaturated such that Tesla cars have not yet met their demand.
One of the major the disadvantages Tesla has over its competitors is her largely edged financial position. The company has struggled with financial woes and at some point, it nearly went bust. It is still burning through cash to support its aggressive expansion and it has not become profitable yet. The management has noted it is likely to be very profitable soon which is still debatable considering the many challenges they are having including logistics to deliver cars to the consumer and legislation which bar the company from selling its cars in some states. The company is in the growth industrial stage considering her diversif...