Porsche, Audi and Mercedes give Tesla Motors Inc. (NASDAQ:TSLA) a run for its money

888

By Stefan Larson on October 27, 2014 Automobile

Tesla Motors Inc. (NASDAQ:TSLA) is facing big competition from various car manufacturing companies, in order to remain a powerful contender in the electric car industry. Audi AG, Porsche and Mercedes; Germany’s top three auto-makers are developing new luxury cars that are expected to be in the market before the end of 2017.

Porsche is looking to make all-electric luxury car, based on a smaller version of its 4-door luxury car, Panamera that will come into the market in 2018. Meanwhile, Audi AG has decided to tackle Tesla Motors Inc. (NASDAQ: TSLA) SUV model X that is projected to be launched next year. Audi AG will be producing Q8 e-tron that will have a mileage of more than 400 kilometers, and will be released by the end of 2017. As of now, Mercedes does not have the required auto structural engineering to manufacture the large batteries which are required to give a remarkable range of 400 kilometers mileage. Hence, Mercedes will not be launching its E series or S series until the next decade. It is expected to be in the market by 2021.

Just a week ago, Daimler (OTC:DDAIF) sold its 4% stake in Tesla Motors Inc. (NASDAQ: TSLA). It claimed at that time, that it was redesigning its participation with the organization. In another blow for the Californian based company, Toyota Motor Corp. (NASDAQ:TM) sold 2.4% of its allotted shares in to the open market. The Japanese organization did not reveal the exact number of shares it sold, and claimed that the selling of Tesla Motors Inc. (NASDAQ: TSLA) shares was just part of its general speculation portfolio audit. . Toyota (NASDAQ:TM) has of late been touting energy component autos despite the fact that its Prius remains the top rated half and half on the planet.

As of now, Mercedes also offers an all-electric B-class model and the humble savvy auto. The B-class auto’s assessed extent is only 115 miles and the savvy auto’s is short of 70 miles. BMW has officially discharged two crossover electrics, the i3; a contender to the Mercedes-Benz’s keen auto and the new i8 that uses a fuel motor to power the back wheels and an electric engine to power the front. On battery-only power, the auto’s extent is only 14 miles. However, the i8 is a true magnificence and is being sold at a hefty $136,500 and is worth that much.

Tesla Motors Inc. (NASDAQ: TSLA) ought to have the capacity to retain its unique trademark for the coming years. Once the German automobile companies get their electrics launched, Tesla Motors Inc. (NASDAQ: TSLA) may have the minimum extravagant all-electric auto available, and the company might have trouble retaining its share in the competitive automobile market. Tesla Motors Inc. (NASDAQ: TSLA) stock price closed at $235.24 on Friday in a 52-week scope of $116.10 to $291.42 at the stock exchange. In light of the current stock market status, the company will need to develop active strategies that enable it to handle the current competitive market.