In 2003, a new automotive startup was founded in California, but had only a 10% chance of success, according to its current CEO. By 2019, the same company had already made close to a million passenger cars and had become the leading EV maker in the world. This company is Tesla, and besides electric cars, it has expanded to other products, like the Tesla Powerwall/Powerpack/Megapack stationary batteries and Solar Roofs. Last year, the global electric car fleet exceeded 7.3 million, rising by over 2 million cars compared with 2018. So, it’s no wonder that other startups, like Rivian, Lucid, Sono, and Lightyear, just to name a few, have started popping up everywhere, and no other place has had more startups than in China. But one big advantage that Tesla had in the beginning, and that the current ones lack, is time. Whereas the Californian brand had 5 years to present its first model (2008 — Roadster), and an extra 4 to start its first mass-produced EV (2012 — Model S), still catching most of the legacy OEMs with their pants down, the new generation of EV startups has to more quickly catch the ball and start running. They have […]

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