Why Tesla Motors became successful Essay Example | Topics and Well Written Essays - 500 words

Why Tesla Motors became successful - Essay Example This research will begin with the statement that having its origin in America, the Tesla Company specializes in designing, manufacturing as well as in selling electric motors and components. The company came into light after the production of Tesla roadster and the luxury sedan, which were distinct in that they were fully electric. The company has had great success in the motor industry and the success would be explained through a number of factors. Among the factors are being opportunity driven, high access to necessary resources, increased search of knowledge as well as great entrepreneurial mindset. However, it would be ascertained that success did not just come; challenges such as failure to register profits for the first ten years of operations, were part of the same. Literature shows that the company adopted the ‘first to market’ strategy in being the first to design and launch an electric automobile in US and Europe. The initial vehicle to be designed and produced was the roadster, which fetched a relatively higher price while compared to the subsequent model S that was relatively lower in price. Current plans are for the company to design and introduce into the market a cheaper vehicle, which will be instrumental in making the company hit the market successfully and targeting the middle-income population. This therefore explains the spirit that drives the company as being opportunity driven.