SolarCity and Grohmann Engineering are just two of the smaller EV businesses that Tesla has already acquired. Musk might keep buying other EV firms, big and small, to increase Tesla’s capabilities and market share.
creating fresh EV technology. New EV technologies are continually being developed by Tesla, including its battery technology and its self-driving software. To keep ahead of the competition, Musk might increase his research and development spending.
increasing the output capacity of Tesla. Currently, Tesla makes about 1 million cars annually. Musk might increase Tesla’s output to keep up with the rising demand for EVs.
creating a network for charging. The greatest network of fast-charging stations for electric vehicles is now run by Tesla. Musk may keep expanding Tesla’s charging infrastructure to make it simpler for EV drivers to undertake long trips.
granting other automakers a technical license for Tesla. Tesla might grant other manufacturers licenses to use its battery technology, self-driving software, and other technologies. This would enable Tesla to make money off its technology without having to make its own automobiles.
It is significant to highlight that Musk would encounter a variety of difficulties in his attempt to exert more control over the EV market. These difficulties include:
rivalry with other automakers. There are other automakers than Tesla that are working on EVs. Other automakers are also making significant investments in EVs, including General Motors, Ford, and Volkswagen. These automakers could really threaten Tesla’s hegemony in the EV market.
Regulatory difficulties. Governments all over the world are regulating the car industry more and more. The expansion of Tesla’s business may be more challenging as a result of these regulations.
financial difficulties. Despite being a relatively new business, Tesla is still not profitable. Musk would need to raise a substantial sum of money to finance his intentions to gain more influence over the EV market.
Despite these difficulties, Musk is a brilliant businessman with a successful track record. If he succeeds in overcoming these obstacles, he may well take the lead in the EV market.