- Daimler is investing $11 billion to electrify its fleet of vehicles by 2020.
- Tesla’s stock has rivaled General Motors and Ford as people continue to clamor for the high-tech, electric vehicles.
- The two automakers will compete in 2020 when they release their battery-powered SUVs.
Tesla has had a meteoric rise as an underdog company, but the next five years could be its biggest challenge yet.
Major automakers from across the globe are preparing massive electric-car rollouts, perhaps none as large as Daimler, Mercedes’ parent company. The German automaker plans to electrify its fleet of cars by 2020 and is investing $11 billion to make it happen.
In many ways, taking down Tesla is no easy feat. The company has secured brand loyalty on par with Apple, which can be attributed to the admiration surrounding Tesla CEO Elon Musk’s stated commitment to building a sustainable future. It has pushed the industry in ways that have never been seen before, from implementing over-the-air updates to challenging the traditional dealership model.
Yet Tesla has some weaknesses, mostly its struggle to execute on production. The Model S and Model X both suffered delays and the company has yet to overcome its manufacturing hurdles — Tesla produced 260 Model 3s in the third-quarter out of a targeted 1,500 sedans due to “production bottlenecks.”
Daimler has a shot of taking down Tesla, but it won’t be easy.
Daimler has to rebrand itself to compete with Tesla
Daimler hasn’t been shy about its intention to take on Tesla.
The Germany automaker announced in September that it would invest $1 billion in its Alabama plant to build an electric SUV, which is slated to hit the market in 2020. Many media outlets were quick to Read More Here