Tesla needs to start acting more like Toyota and GM if it really wants to win the electric car race
The gap at the low end of Tesla's lineup leaves it exposed to stiffening competition. China's BYD, the No.2 EV seller globally, is. That's not surprising in the least, Michael Dunne, founder of the EV consultancy ZoZoGo, told Insider, especially when considering that BYD has an extensive portfolio while Tesla is solidly a luxury player.
"It's like asking, 'will Toyota surpass Mercedes in overall sales?' Yeah, because Toyota has a full spectrum of vehicles that go from $20,000 to $80,000," Dunne said."And the lower the price point, the bigger the market of course.
"It will take a few more years before the buyers of EVs expand enough that they need a range of products, and Tesla needs to be there when the market is ready," he said, adding that Tesla can't be a top player or reach its lofty goals with just a few models. Elon Musk announced plans for a $25,000 car at a Tesla event in 2020, but the car hasn't materialized.
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