uploads///Tesla Porsche

The Tesla-Porsche Battle Is Heating Up


Sep. 21 2019, Updated 12:39 a.m. ET

Tesla (TSLA) has been locking horns with Porsche since the launch of the Taycan this month. The Taycan is Porsche’s electric car, and it will likely compete with Tesla’s Model S.

Since the launch, Tesla has been trying to prove its supremacy in terms of various features. Tesla recently revealed its upcoming Plaid Mode to showcase the next level of speed and power in Tesla’s EV (electric vehicle) line-up. Now, Tesla is claiming the supremacy of its EVs by setting lap records on racetracks.

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Tesla sets racetrack record

Tesla’s prototype car has just set a speed record on Germany’s legendary Nürburgring track. According to a Road and Track report, two Tesla prototypes ran on the Nürburgring racetrack. While the blue prototype finished the lap in 7 minutes and 40 seconds, the red prototype finished it in 7 minutes and 23 seconds. Tesla’s red prototype beat the Porche Taycan’s lap time of 7 minutes and 42 seconds by about 19 seconds.

Earlier in the month, Tesla announced that its Model S had set the best lap time on the Laguna Seca track in California. CEO Elon Musk tweeted, “Model S just set record for fastest 4 door ever at Laguna Seca, video tmrw.”

Perhaps Tesla’s cars on both tracks were testing its much-awaited Plaid Mode feature.

Tesla’s Plaid Mode

Earlier this month, Porsche revealed that the Taycan could accelerate from 0 to 60 miles per hour in just 2.6 seconds. Soon thereafter, Tesla stated that it was currently working on Plaid Mode. The mode will use three motors and will be available in about a year. Plaid Mode will follow the company’s Ludicrous Mode, which takes the car from 0 to 60 miles per hour in 2.5 seconds.

On Plaid Mode, Musk tweeted, “Yes. To be clear, Plaid powertrain is about a year away from production & applies to S,X & Roadster, but not 3 or Y. Will cost more than our current offerings, but less than competitors.”

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Tesla’s impressive growth

Tesla has been investing heavily in the research and development of electric cars. It’s also restructuring its business to expand its global footprint. Tesla’s Model 3 is all set to begin production at the company’s Gigafactory 3 in China. Production at the factory should ramp up by mid-2020. Production of the Model Y at Fremont will also start in 2020.

Further, Tesla plans to launch a fleet of robotaxis by 2020. These autonomous EVs will carry passengers from one point to another. With Tesla Network, owners will also be able to place themselves on the app, letting them earn from their vehicles.

Moreover, these will be next-generation vehicles fitted with batteries that can last for about 1 million miles. These vehicles will also have very low operating costs, making them highly competitive.

EV market is heating up

With Tesla and Porsche competing head-to-head, the EV market is gearing up for competition. Peers Ford (F) and General Motors (GM) aren’t far behind in the race.

Ford is aiming to invest about $11 billion in EVs by 2022. The company has plans to launch about 40 hybrid and all-electric cars. It’s also fiercely pushing its EV models in Europe, where it plans to garner the most revenue from EVs by 2022. The company plans to launch eight EVs in Europe this year. To learn more, read Ford Boosts Its Europe Plan with New Electric Vehicles.

General Motors (GM) is planning to launch about 20 all-new EVs globally by 2023. In 2018, CEO Mary Barra said, “We’re moving fast. Last year in the U.S., our own ground-breaking Chevrolet Bolt EV, Chevrolet Volt plug-in hybrid, and Cadillac CT6 Plug-in accounted for nearly a quarter of industry EV and plug-in sales.” She added, “We are optimistic about EVs because last year, automakers sold 1.2 million plug-in electric and plug-in hybrids around the world.”

To learn more, read Tesla: Are Peers Losing the Electric Vehicle Race?


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