Tesla’s Opportunities
The opportunity section of this SWOT Analysis emphasizes the emerging chances of growth for the company. It is an external factor which, when identified, can help Tesla to improve its business performance, management structure, and strategic growth and other aspects.
1. Sales expansion in untapped Market
The most significant opportunity for the company right now is the Asian market, which is still unsaturated in the field of automotive and renewable energy markets. Especially in the situation where Tesla needs to expand its global market to increase its financial stability and stronger market presences.
2. Less Expensive Car
Tesla is expensive due to its unconventional reliance on innovation, which requires maximum financial support to entertain new technology.
Recently, Tesla has launched Model 3, which is a more affordable version of Model S with less range, power, and fewer features. However, it is an excellent opportunity for Tesla to expand the size of their audience market.
3. Bringing battery production technology in-house
Tesla intends to make its own battery cells. The move can be a big game-changer as it will help the company to increase its manufacturing rate while reducing its production cost. Currently, Panasonic is their primary supplier of batteries.
4. Introduction of pick up truck
According to National Automobile Dealer Association market share data, Pick up truck accounts for 17.6 percent of the US automotive market, which has huge opportunity of growth in Electric Vehicle. Cyber Truck can bring a lot of growth opportunities for Tesla in this segment.
Image Source: Statista
5. Market Confidence in Tesla
The stock market has shown confidence in Tesla after beating the projected car deliveries. As a result, Tesla has reached a Trillion Dollar market cap.
Image source: Statista
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