Largest Electric Vehicle Maker “Tesla” Making a Comeback in Stock Markets
By now, the entire world is aware of Tesla, the world’s largest electric vehicle market. Today, people around the world see it as a symbol of futuristic and groundbreaking advancement in the world of auto-motives. The company has redefined the utility and level of innovation in electric energy.
In the early 21st century, it was almost taken as a joke when a company claimed it would build a commercial car running on batteries. For a long period of time, the concept and the technology going behind the manufacturing of electric vehicles were mocked by traditional car manufacturers.
Companies that were earning billions and millions manufacturing fuel engine cars were all involved in denying the ability and potential EV technology.
It is to be admitted that Tesla and its CEO, Elon Musk, weren’t the pioneers of electric vehicle technology. There were many who came up with the same idea before even the name Tesla even existed in history.
However, the difference between such companies and Tesla was that Tesla stood by its claim and goal. The electric car manufacturing company stuck around and proved to the entire world that it was indeed possible to make cars that ran solely on batteries.
This was indeed a huge milestone that Tesla achieved over the course of time. However, Tesla didn’t just stop at manufacturing mere electric vehicles. Tesla went up a notch introducing one of the fastest running cars in the entire world.
Starting from around 2010, Tesla continued pushing through the critics from the fuel-engine manufacturing companies. Tesla continued recording an increase in sales for its electric vehicles. Then at the beginning of 2021, Tesla reported that the year 2020 was its all-time best in terms of sales and earnings.
Based on the figures from 2020, Tesla had hoped that the year 2021 would prove to be even better. However, Tesla didn’t know that things were going to turn bad. Right from the beginning of 2021, Tesla faced software issues with its vehicles in the Chinese EV market.
Another major hiccup the company faced was the real-time testing of the autonomous technology on customers’ Tesla cars in America. This also brought in a lot of negative reviews about the company, followed by the burning of a Tesla car, and cruise control issues.
The company had to face a huge downfall because of these issues and then, the company had to increase the prices of its vehicles. This resulted in Tesla’s stock prices taking a huge loss.
However, Tesla dealt with all the problems where it performed mass-updates on Chinese customers’ vehicles without them having to bring their vehicles to Tesla’s service centers.
Tesla completed the testing of its autonomous software and made it subscription-based so the users could acquire the technology as they will. Since September of 2021, Tesla’s stock prices are constantly making a comeback and as of now, their price is $1,208.5 per share. Tesla’s stock prices have experienced a 54.64% rise in share prices since October 1st, 2021.