The electric vehicle is the future of the auto industry. Tesla is the pioneer company that has successfully started the business of EV in the world. Under the guidance of Mr. Elon Musk, the company has created thousands of electric vehicles.
All these are on roads and operating successfully. However, a recent development has seen a few days back when Chinese electric car companies announced that they are way ahead of Tesla in making electric cars.
Tesla Manufacture 100,000 EV in 12 years
According to the reports of the U.S. state department, Tesla took 12 years to manufacture 100,000 electric cars whereas the Chinese two giants took only half the time than this. This intimation tells us that China is going ahead in this phase also. This is a moment of concentration for the U.S. authorities.
In addition to this, China has raised the speed and updated the version of making the electric vehicle.
Xpeng is the leading electric vehicle manufacturing company in China and on Monday, they announced that they have successfully produced 100,000 cars and it does not take more than 6 years to finish the job.
On the other hand, there are several rivals to this company also in China. However, they are also not far behind in producing electric cars. As per the reports of Chinese authorities, Nio has also accomplished this milestone. They have also produced 100,000 electric cars.
Nio’s time is half of Tesla
It is pertinent to mention here that the company was established in 2014 whereas it completed the registration process in 2014. Apart from that, the company changed its name in 2017 and became Nio. Nevertheless, the milestone is amazing. This factor indicates that the pace of Nio is very fast compared to Tesla.
Besides that, Tesla started operations in 2003 and finished the job of 100,000 after 12 years. Nonetheless, Tesla faced several changes since the company was the first mover in the field of Electric vehicles. Additionally, there was a lot of criticism by the capitalists that this is going to ruin the industry.
Nio did not face these many challenges. The ground was already there for them to complete the job. In the case of Tesla, the production delays are due to the unavailability of different machines. In the early years of Tesla, they were the pioneers.
Nio has further increased the capacity of making electric vehicles. They have established new factories in Berlin and Shanghai.
It is imperative to know that Tesla is still a larger company than Nio. Their production capacity is much greater than other rivals. The experts are there with Tesla but the speed is slow due to the high standards of the U.S. market.
Mr. Musk tweeted in March 2020 that they have crossed the mark of one million electric cars. He further stated that they are enhancing the production speed and only in the third quarter the company has made 240,000 electric vehicles. Eventually, the share rose by 11%.
In conclusion, we can say that the competition is rising in the field of electric vehicle companies. Similarly, the demand is also high.