Since Tesla is a car manufacturer, one would expect its biggest competitor to also be a car design and manufacturing company. However, Elon Musk has shown that this is not the case.
The CEO’s opinion was given, as always, via Twitter.
Before becoming one of the most significant electric vehicle companies in the market, Tesla deals in hardware and software. In fact, it is the skills in this segment that guarantee the success achieved. As such, its arrival shocked the market - with bold models that proved that an electric car can coexist with attractive design - and accelerated the electromobility that is being widely adopted by other manufacturers.
As one of the giants in the electricity market, one would expect its main competitors to be other manufacturers trying to break into this, which is the stuff of Tesla. However, Elon Musk has already stated that his main rival is much more than a car manufacturer.
The oil company is Tesla's main competitor
The desire to accelerate the transition to use Renewable energy not limited to electrification supply. Thus, Tesla's biggest competitor for Elon Musk is Aramco, one of the largest oil companies in the world based in Saudi Arabia. In addition, it is also one of the largest in the world by market capitalization and owns 69% of SABIC, one of the world's leading producers of chemicals, fertilizers, plastics and metals.
The Major rolls his eyes when the stockholders hate the guy who made them rich just because the market crashed.
“It’s all Elon’s fault!”
bro. he told you that the share price is too high. he told you that a recession was coming. why are you ignoring and then mad at him lol
— Whole Mars Catalog (@WholeMarsBlog) May 25, 2022
In the words of Tesla's CEO, via Twitter, as always, once the electricity producer overtakes Aramco in the stock market, "we will know the future will be good for the Earth." In addition to Aramco, which recently became the most valuable company, Tesla is expected to overtake other oil companies by identifying a mature consumer market for renewable energy.
Currently, despite periodic and unexpected fluctuations in value, Aramco's capitalization is $2.4 billion. In return, Tesla is betting itself $786 billion. Given these data, the path to the "good future" of the Earth is predicted to be long.
