Everyone is a fan of Tesla Motors Inc (NASDAQ:TSLA) nowadays, people are impressed with everything that the company has done and is currently doing. But why is it that Tesla Motors Inc (NASDAQ:TSLA) has succeeded in enticing consumers to electric vehicles like no other company could in the past? Come to think of it, electric cars are not new, numerous companies have ventured into this territory, invested in R&D and even produced a few vehicles, no one got the success or the admiration that Tesla Motors Inc (NASDAQ:TSLA) currently enjoys.
Karan Girotra, professor at INSEAD, explained what makes Tesla Motors Inc (NASDAQ:TSLA) ticks and how it ended up becoming the poster child of electric vehicles on CNBC, recently.
“[…] It is a very hard business, but Tesla Motors Inc (NASDAQ:TSLA) has done really, really well. Tesla Motors Inc (NASDAQ:TSLA) has been riding this highway far faster than any other auto company ever has. In just about two years, they have nailed down the business model and they have done the single most important thing, which no other electric vehicle maker could ever do. Tesla Motors Inc (NASDAQ:TSLA) has grabbed the fascination of the consumer,” Girotra said.
Girotra emphasized on the Customers’ fascination that Tesla Motors Inc (NASDAQ:TSLA) has grabbed, which he feels is the most important reason why Tesla Motors Inc (NASDAQ:TSLA) became so successful. Girotra also believes that since Tesla Motors Inc (NASDAQ:TSLA) already has grabbed the consumers’ attention, now the only thing they need to do is focus on scaling up their operations and they are doing good on that front, too.
“[…] In the tech industry, folks have done this all the time, open sourcing their patents. Tesla Motors Inc (NASDAQ:TSLA) is also getting there, though to be fair at this point, they have offered their patent portfolio, there are not that many folks who are really willing to grab on. Also, let’s not forget Tesla Motors Inc (NASDAQ:TSLA) is a partner of Daimler Chrysler, Mercedes in terms of sharing battery technology […],” Girotra added.
Disclosure: None
Suggested Articles:
Countries That Consume The Most Meat
