Tesla Motors is a modern company that deals with automotive engineering and storing of energy. It basically designs and manufactures a wide range of electricity powered automotive products and systems for energy storage for use in homes, commercial areas and other facilities. The company is greatly inclined to the use of energy management processes and technologies which has greatly contributed to the marketability of its products. This study seeks to evaluate how different factors particularly, political, economic, social and technological are likely to affect the performance of Tesla Motors.
The political dimension is made up of a broad set of elements. Of relevance to this study is how various government laws and regulations relate to the activities of Tesla Motors and how they affect such activities. A wide range of components have to work together for the best outcome to be achieved for both consumers and producers. For this reason, there is a profound need for standardization. Most regulations are directed towards issues touching on safety metrics, testing procedures and emissions.
Activities that the company is likely to engage in are expected to conform to standards set by ISO, SAE and IEC. Under the International Standardization Organization, ISO 43.120: Electric Road Vehicles, presents the most precise standards expected from an automotive company like Tesla Motors and all its products. The Society for Automotive Engineers (SAE) also has the SAE J1772 which is a North American Standard set for electrical connectors developed for electric vehicles.
The U.S National Electric Vehicle Safety Standards Summit held in Detroit, Michigan on the 21st of October 2010 also identified battery hazards and vehicle charging systems as key areas for consideration in the National Action Plan. The International Electro technical Commission (IEC) is also a potential stakeholder as far as the activities of Tesla Motors are concerned. It is a prominent international organization that plays the role of preparing and publishing standards applicable at international levels for companies dealing with electric and electronic related technologies.
The general conclusion is that the electric vehicle industry has become a key factor in relation to economic growth through a number of ways;
A trend of increasing sales has been witnessed according to an analysis of sales over the last two years. The demand aspect of economics implies a rise of taste for alternatively fuelled vehicles. For this reason an effective strategy should be considered in order to strike an effective balance between markets and product availability and the dynamics of production. This dimension is likely to cover any unexpected shifts of resource costs as well. Taxation has also been introduced or proposed for electric-driven car owners e.g. Gas tax. This is normally treated as a make up for revenue lost on fuel which owners of these cars don’t buy.
- It has created job opportunities and employment.
- It has improved quality of life and living standards.
- It has created an alternative to the prior heavy reliance on foreign oil.
In today’s life, the case of overreliance on oil for almost all development and production processes has at times resulted in crisis, shortages and unexpected price fluctuations. Some of the wars in the world today are motivated by the desire to control some of the world’s oil rich regions. Electric driven cars offer an excellent alternative to oil dependency. Hybrids are also considered to be environment friendly and efficient as far as pollution and greenhouse gases are concerned. However, in a contrasting turn of events, studies reveal that electric driven vehicles are relatively expensive when compared to the ability of average-earning populations’ ability to afford such cars. Of consideration also is the fact that electric motor industry is generally a growing industry that is yet to be embraced worldwide. Internal combustion engines still form a greater percentage of the world’s transportation systems.
The automobile market review has clearly indicated a trending situation. Technologies are on the as far as electric automobiles are concerned. Components are gradually changing for the adoption of more advanced and efficient ones. The wave of competition and client taste has also contributed to technological advancements. For this reason a company in the stature of Tesla Motors will no doubt have to put up strategies to keep up with changes in the automobile market.
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Stakeholder Analysis of Tesla Motors and the Global Automobile Industry Tesla Motors.docx