June 2nd, 2022.
Searching the internet for Tesla and E.V-related content likely brings you to many comparisons between Tesla's vehicles and other electric cars and S.U.Vs. We cover this type of content all the time. However, in the grand scheme of things, Tesla is really competing with gas-powered cars, and a recent tweet by CEO Elon Musk paints a clearer picture of the much larger overall rival.

Teslarati points out that Tesla is also seemingly competing with legacy automakers. Over the years, most early automotive startups have failed to succeed, and most of today's automotive startups are E.V makers. Tesla and Ford are the only two U.S automakers that haven't ever filed for bankruptcy, though Musk says Tesla was very close to dying for a time.

It may seem to some folks that there are plenty of people, companies, corporations, organizations, and even political movements working against Tesla. However, Musk pins it all down to just one, which he aims to beat: Saudi Aramco.

As you can see, Musk would like to one day see Tesla's market cap surpass that of Saudi Aramco. Saudi Aramco is a fossil fuel company with a massive market cap. It makes sense that Musk wouldn't be concerned with rival E.V.s, and even that he'd encourage their success. In fact, the more automakers push for electric cars and bring compelling options to market, the more it threatens Aramco's market cap.

According to Teslarati, Saudi Aramco's market cap is currently at around 2.431 trillion. Meanwhile, Tesla has the largest market cap among global automakers. It wasn't long ago that the company's worth climbed past $1 trillion. Currently, it sits around $800 billion.

Source: Re-posted and Summarized from Steven Loveday at insideevs.

My Take: Tesla has a long way to go to get there. Saying that, Oil companies are on the decline while Tesla is going to rule the world in the near future.

Re Posted From: Elon Musk Reveals Teslas Main Rival

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June 2nd, 2022.
Searching the internet for Tesla and E.V-related content likely brings you to many comparisons between Tesla's vehicles and other electric cars and S.U.Vs. We cover this type of content all the time. However, in the grand scheme of things, Tesla is really competing with gas-powered cars, and a recent tweet by CEO Elon Musk paints a clearer picture of the much larger overall rival.

Teslarati points out that Tesla is also seemingly competing with legacy automakers. Over the years, most early automotive startups have failed to succeed, and most of today's automotive startups are E.V makers. Tesla and Ford are the only two U.S automakers that haven't ever filed for bankruptcy, though Musk says Tesla was very close to dying for a time.

It may seem to some folks that there are plenty of people, companies, corporations, organizations, and even political movements working against Tesla. However, Musk pins it all down to just one, which he aims to beat: Saudi Aramco.

As you can see, Musk would like to one day see Tesla's market cap surpass that of Saudi Aramco. Saudi Aramco is a fossil fuel company with a massive market cap. It makes sense that Musk wouldn't be concerned with rival E.V.s, and even that he'd encourage their success. In fact, the more automakers push for electric cars and bring compelling options to market, the more it threatens Aramco's market cap.

According to Teslarati, Saudi Aramco's market cap is currently at around 2.431 trillion. Meanwhile, Tesla has the largest market cap among global automakers. It wasn't long ago that the company's worth climbed past $1 trillion. Currently, it sits around $800 billion.

Source: Re-posted and Summarized from Steven Loveday at insideevs.

My Take: Tesla has a long way to go to get there. Saying that, Oil companies are on the decline while Tesla is going to rule the world in the near future.

Re Posted From: Elon Musk Reveals Teslas Main Rival

Auto Helpers