Since the release of the Roadster in 2008, Tesla has continued to be a leading developer of electric vehicles. Pioneering battery vehicle technology, they are largely to thank for the popularity of electric vehicles, taking them from fringe developments to be in the same realm as luxury vehicles. However, this rising popularity has meant that competitors of Tesla have also been growing, particularly out of the Chinese market, where electric vehicles are soon outpacing internal combustion models.
Tesla’s regime is increasingly threatened
For years, Tesla has been a leading developer in electric engine technology, with their models consistently outperforming any other hybrid or electric model from other automobile companies in terms of sales. However, their dominance has been increasingly under threat due to not only significant vehicle recalls for their infamous Cybertrucks but also due to CEO Elon Musk’s decreasing popularity due to his involvement in the US government.
The rollout of the company’s Cybertrucks has been met with controversy. Not only have the vehicles undergone several recalls in the past two years alone since they were released, after their release date already being pushed back, as well as facing rollout problems in Europe, but Musk’s role as the head of the Department of Government Efficiency (DOGE) has tainted the brand’s overall image. Employed by the Trump Administration to cut unnecessary federal spending by $150 billion, DOGE has largely implemented widespread federal job cuts and reduced budgets for welfare programs.
These EVs are beating Tesla
Due to the controversy over Tesla’s brand image, it has opened up an opportunity for other brands to have their own electric vehicles take the limelight. China’s BYD has been an example of this, where the company is not only offering equally technologically advanced electric vehicles as Tesla, but has also been selling them for a cheaper entry point and including autonomous driving technology in all their vehicles.
Now, a new competitor is on the horizon. Chinese electric vehicle developer Xpeng Motors, established in 2014, has been growing rapidly in recent years. The MONA MO3 debuted in July of last year, and Xpeng secured 30,000 orders for the vehicle within the first 48 hours it was publicly released for sale. By September of last year, the company was averaging 2,000 orders per day for the vehicle.
“We are actually in a new generation of technology advancement. And I believe that this is going to trigger a wider adoption of smart driving for the whole society,” said XPeng’s CEO, He Xiaopeng to Buinsess Insider
The future is electric for automobiles
While many automobile brands have continued to experiment with a variety of alternative engine solutions, it is becoming increasingly clear that electrical technology is where the automobile world has hedged its bets. With nearly all major automobile brands now offering some sort of electric model, the way forward for the passenger vehicle in order to achieve carbon neutrality looks to be a slow phasing out of the internal combustion engine in favor of the electric engine, and developments from China are increasingly leading the way:
“One can tell that great improvements in development have been witnessed in China for the past decade,” Fortune quoted Xiaopeng.
While Tesla still maintains significant popularity, especially in the US, the company’s increasing competition from other electric vehicle developers has prompted the brand to look at other underdeveloped markets to maintain its image as a leading developer. The company has been increasingly focusing on its Robotaxis and automated driving technology, showcasing advanced and futuristic technology, which is set to be the next step for the automobile world.
