The famous producer of electric cars, Tesla Inc this year could continue with incredible growth. Just if we look at the last year, they sell a huge number of cars. In this year they are expecting the same growth. The company confirmed in January that it had made a profit for the fifth consecutive quarter.
For sure, one of the most important positive factors is the huge expansion of the Chinese market. In 2021 they are expecting that they will increase the sale of electric cars in China by 40%.
The Chinese government has introduced new laws that will support the buyers of electric cars. All this should encourage growth. In January the company announced that they will increase the sales of cars in India. This is another huge market that would like to switch on clear energy.
On the other hand, many traditional car manufacturers such as Volkswagen, BMW, Ford, and Daimler are developing their own electric cars. Or they already have their model in the production.
Other rivals, such as China’s Nio, also produce electric vehicles but still haven’t proven themselves on the world stage. Even Apple recently announced its intention to make its own electric car, or they will become partners with some of the traditional car manufacturers. Tesla’s potential competition wants its own part of the pie, but all participants are several months behind this market leader.
The main problem for Tesla this year is the shortage of chips needed to produce electric cars. Tesla’s rival Nio was forced to suspend production. Also, many people are in fear that Tesla will have to slow down, which could be an obstacle in achieving the desired number of deliveries.