You could argue for weeks about the aesthetics or design philosophy of Tesla, Both inside and out. But one thing is absolutely real. The company led by Elon Musk it has revolutionized the entire automotive industry and accelerated the adoption of electric mobility.
With the Tesla Model Sat the beginning of the last decade, showed that it was possible to produce a luxury vehicle capable of competing with other brands, even if it was 100% electric. That was in 2012, when nobody imagined that this could be achieved.
With the Tesla Model 3showed that an attractive electric vehicle can be produced on a large scale, with good value for money, with a wide autonomy, good space and interesting for different regions.
This is why it is common to draw comparisons between Tesla and other major companies in the auto industry. “Tesla against Volkswagen”, “Tesla against Ford”, “Tesla against Mercedes” or “Tesla against General Motors”. Although it is correct to do so, Elon Musk revealed that the company’s battle is with a much bigger and tougher competitor.
Of course, all readers must be reminded of the following: Tesla is not a car company. It is hardware Y software. They are not limited to the field of vehicle production, and devote a large amount of resources to other areas. Also, the company’s mission is to accelerate the transition to renewable energy. This objective is not limited to the electrification of the fleet.
Therefore, it is not surprising that the Tesla’s main competitor for Elon Musk not be another car manufacturer, but the company itself aramcoone of the world’s largest oil companies with its headquarters in Saudi Arabia.
It is also one of the largest companies in the world by market capitalization. TThey also own 69% of SABIC, one of the world’s leading manufacturers of chemicals, fertilizers, plastics and metals.
For Elon Musk, when Tesla overtakes Aramco in market value, it will be the day we “know the future is good for the Earth”commented, as usual, on Twitterreplying to another user.
The oil industry, the great rival of Tesla
The day that Tesla surpasses Aramco and other oil companies in terms of market capitalization, it will be understood that the The market places more value on the creation and use of renewable energy products. It will be the consequence of a general philosophical change in the world.
Also, considering that much of the auto industry is accelerating its efforts to electrify cars, not exactly a Tesla rival.
This is a position that could change in the future, when all transport is electric. But right now, every company is on the same transformation journey.
At the time of this publication, Aramco has a market capitalization of $2.4 trillion. While Tesla stands at USD $ 786,000 million, although it has already reached one billion. There is still a long way to go.
Much of the automotive and power generation industry is transitioning to renewable energy. Widely pressured by regulators, who had to impose a deadline for its transformation.
So a future in which Tesla has a larger market capitalization than Aramco might not be too far-fetched.
