Model X | Tesla
If imitation is the sincerest form of flattery, then Elon Musk should be blushing.
In addition to the increased competition from big auto manufacturers, there are also now many venture-backed startups that are now kicking tires within the electric vehicle industry. According to Tracxn, a startup intelligence platform, some of Tesla’s rivals include Faraday Future, NextEV, and Atieva.
Tesla is far from the only company looking to profit off of rechargeable batteries for the home.
At-home batteries are a necessary purchase for anyone looking to convert their home to solar power. The batteries store the electricity generated by solar panels, which can then be used at night or during peak grid times to save money on your electricity bill.
When automobiles first debuted in the United States, they faced a classic “chicken and egg” problem. On one hand, autos were custom-made luxury items, affordable only to a niche market of affluent individuals. On the other hand, there was little incentive for most people to buy automobiles in the first place, as the system of roads in America was woefully underdeveloped.
There’s no question that self-driving cars are coming — the real debate at this point is who will get there first.
We rounded up a whopping 20 companies — from traditional automakers to Silicon Valley start-ups — who are working to build a self-driving car by 2021.