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Tesla Might Be Going To Face Some Serious Competition From Startup Company Rivian

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Tesla Might Be Going To Face Some Serious Competition From Startup Company Rivian

There are very few companies which dominate a particular industry, and Tesla is one of those companies. Tesla Inc is undoubtedly one of the largest electric vehicle-producing company which controls more than eighty percent of total electric vehicle industry. However, according to Morgan Stanley Analyst, Adam Jonas Tesla will face some serious competition from a Detroit based startup Rivian. Adam Jonas is a renowned analyst on wall street, and he has been observing the EV industry from the last many years. According to Adam Tesla Inc. earns more than ninety percent revenue of current electric vehicles industry, Rivian is that tech startup which has the potential to give fierce competition to this giant company. Rivian is headed by one of the smart entrepreneurs also it has the right amount of capital to produce SUVs and trucks.

Recently in an auto show, Riviniana revealed the first preview of its R1T electric truck which so far has got everyone’s attention because of its significant features. According to Rivian, this R1T truck can deliver a range of 400 miles; it will also be able to hit 60 mph in just three seconds. Elon Musk while releasing the company’s fourth quarter’s reports said that the company would soon be going to launch an electric pickup truck. On Twitter Elon Musk already said that they are considering on to build a perfect pickup electric truck which will be able to handle tons of weight. On the other hand, Rivian has successfully made an electric SUV which can carry seven passengers at a time. Adam Jonas said that to beat Tesla, the company will have to focus more on making more of electric vehicles and also it will have to gain its investors’ confidence. It won’t be that much easy for Rivina to beat Tesla who currently has a monopoly on EV, but it seems like now Tesla has got a right opponent.

Sherry Schultz

Sherry writes about research techniques and has a lot of working experience with international companies. She has extensive experience developing marketing, corporate communications, and public relations materials in a variety of fields including finance, business, human resources, chemical, healthcare, and consumer technology.

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