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Lessons EV Makers Can Learn from Tesla Inc.’s (NASDAQ: TSLA) Success

In the late 2000s, Tesla released the Roadster, a limited-production sports car that paved the way for the electric vehicle (“EV”) industry. More than a decade later, the pioneering EV maker has undoubtedly shifted the automotive industry towards electric vehicles. Several EV start-ups are constantly offering innovative products and large automakers such as General Motors and Volkswagen have started producing electric vehicles. So how has Tesla (NASDAQ: TSLA), a firm that produces super-expensive EVs managed to become the most valuable car company in the world?

Despite several governments pushing for the phase out of internal-combustion-engine vehicles in favor of electric vehicles, EVs are still a long way from widespread adoption. This can be attributed to two factors: high upfront costs and range anxiety. Producing EVs remains expensive and, consequently, EVs remain expensive. Range anxiety…

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