These companies are shaping the Future of Mobility

ELECTRIC FUTURE

Not just EV pioneer like Tesla, but other startups, traditional automakers & tech companies are joining the party as well

As Tesla’s quarterly production capacity approaches almost 200k, its competitors will have some catching up to do. The company also has the advantage of a robust supply chain that is already in place. With the company introducing better battery technology and varied models with a robust charging infrastructure in place, it has become a favorite for investors.

Its stock went up an incredible 695% in 2020 alone, making it one of the most valuable companies in the world with a $779 billion market cap currently. In fact, Wall Street investors think Tesla is worth more than General Motors, Toyota, Volkswagen, and Ford put together.

All these promises of an electric future is providing a boom to the automotive market. But immediate plans of these companies might be hitting a snag with the shortage of semiconductors that power all the electronics in their current models. The average vehicle uses anywhere from 50–150 microchips and the number is expected to rise in the future.

For now, Ford had to shut down a plant due to a lack of microchips, and GM warned of the impact on future production. All said and done, these probably would be temporary roadblocks as these automotive companies scale up their production in the future.

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