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Is electric vehicle creating a crucial market in Canada?

The hybrid and electric car market in Canada has been able to reach a value of $802 million. The Canadian market has been forecasted to a value of $1,607.3 million in 2022. The hybrid car holds the biggest market share in Canada with a total volume of 73.2%.

The leading companies in Canada are Ford Motor Company, General Motors Company, Nissan Motor Co. Ltd., and Tesla Motors, Inc.

Let us see how Canada can be a crucial advantage point for Tesla Motors.

The Head office of Tesla is 3500 Deer Creek Road, Palo Alto, California, USA. Tesla Motors, Inc. is the sole developer, designer, and manufacturer of electric vehicles.

They sell fully developed electric vehicles and the components of an advanced electric powertrain to other automotive manufacturers. The operation of Tesla is in North America, Europe, and Asia.

The operation of the company can be separated into two major segments: Automotive, and Energy Generation and Storage. The segment of Automotive includes the design, development, manufacture, and sales of electric vehicles.

Tesla operates around 265 locations in the world; including its sales, service plus, and service facilities. To enable long-distance driving, the company operates in a network of superchargers.

Throughout North America and Asia, Tesla is building a network of up to 120KW fast charging equipment known as Tesla Supercharger for charging the Tesla vehicles faster. The characteristics of the Tesla Supercharger are industrial-grade with a high-speed charger that can replenish the battery pack for a range of 170 miles (ca. 274 km) in 30 minutes.

The company opened up 790 Supercharger stations across North America, Europe, and Asia. In addition, the company designs develop, and manufacturers engineering components of electric vehicles.

The company is also engaged in designing, developing, and manufacturing lithium-ion battery packs, electric motors, gearboxes, and components for vehicles. The original equipment is manufactured at the Tesla factory.

By the end of December 2017, the revenue recorded by Tesla is $11,759 million whereas Ford motor recorded a revenue of $156,776 million. General Motors recorded a revenue of $145,588 million and Nissan Motor recorded $104,563 million in the fiscal year of March 2017.

Source- MarketLine Industry Profile, May 2018.

 

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