Tesla Company and its Competitors

17. Part One
First, use the provided MS Excel Spreadsheet to gather the requested information about the publicly-traded company TESLA.
Under the Week 2 tab, gather the revenue, operating income, and net income of your chosen company and its closest competitor.
Part Two
In a memo to the Chief Executive Officer, answer the following questions, which are pre-loaded in your Memo Template:
1. Which of the two companies you reviewed in Discussion 2 is growing faster? What data, reference, or ratios drew you to that conclusion?
2. Which of the two companies is generating the most profit?
3. Which of the two companies is the “better run company”? (Keep in mind that you will be posed this question for the next several weeks. Keep track of how you grow from this week to the next week with your response.)

Elon Musk an entrepreneur with a track record of success, is the CEO at the helm of Tesla Inc., an American company which designs, develops production, distributes and manufactures electric vehicles and powertrains (Hoze 2021, 2021). Tesla’s headquarters are located at Palo Alto, California, and was established in 2003. Tesla’s market value stood at $884.91 billion in August 2022. After months of stagnation Tesla is experiencing rapid growth. In the second quarter of the year 2021 Tesla made $1.1 billion in revenue, more than what was predicted by Wall Street analysts (Liu, 2021). The $1 billion that it earned at the end of the 2nd quarter is more than four times the $438 million it earned at the beginning of the. For the quarter that ended in Q2 of 2020 Tesla generated just $100 million. The profit for Tesla in the second quarter of 2021 stood at $1.6 billion, an increase of $1.1 billion in Q1 2021 after adjusting to inflation. For the second quarter of 2020, it racked up $451 million in revenues (Hoze 2021). There’s a reason for why competitors keep expanding their production and marketing. As per Fortune Business Insights the world market EVs will grow by $287.36 B in 2021, and will reach over $1.3 trillion by 2028. This is an annual growth rate of 24.3 percent (Liu 2021). Ford Motor Company is Tesla’s principal rival in the automotive industry. But, Tesla vehicles have a image that established automakers do not have. Cont…