Driving Sustainability and Electric Vehicles Evolution: Tesla Company's Success Strategies

Abstract

In the new era of industry 4.0 with increasing environmental pollution, it is necessary for companies to start thinking about implement businesses that can satisfy both. Tesla is a company that operates in technology area with the vision and goals to transfer the world to a clean and sustainable life. Moreover, Tesla decided to operate in a new and growing industry that might change the consuming behavior of the people all around the world, which is electric vehicles (EVs). What makes Tesla stand out from other car manufacturers when car industry is somehow coming to mature stage is that Tesla aims at making fully electric car instead of popular plug-in hybrid cars. In this report, we analyze Tesla company with multiple strategic analyses to study how Tesla is becoming one of the most successful companies with rapid growth these years – which includes SWOT Analysis, Three Levels of Strategy Analysis, Strategic Map Analysis, Porter's Five Forces Analysis, Value Chain Analysis, Resources and Capabilities Analysis and Porter’s National Diamond Analysis. The results show that Tesla is leading the EVs industry at the moment with differentiation strategies and it will be more and more developed in the near future. Moreover, the success of Tesla comes from the support of many different factors – including governments from different countries. The success of Tesla can be a leading case for other companies to follow and it will slowly enhance the customers’ consumption behavior into an emission free life and get the customers into using more environmentally friendly and sustainable products.