With a $145.9 billion fortune at press time Elon Musk, the founder of the electrical automobile producer Tesla Inc (NASDAQ: TSLA), has added greater than $100 billion to his procure worth since January 2020. Tesla’s shares were going up, beating every analyst’s expectations and feeble sense, whereas its market capitalization reached $600 billion on Dec. 7. The firm is aiming to promote 500,000 battery-powered automobiles by the pause of this year. Tesla’s car products consist of Model 3, Model Y, Model S, and Model X. Model 3 is a four-door sedan. Model Y is a sport utility automobile (SUV) built on the Model 3 platform. Model S is a four-door sedan. Model X is an SUV.Tesla has modified the auto industry. But it surely is rarely always in actual fact the sole electrical automobile producer in the realm market. A few of the big, established automakers are making fully electrical, and hybrid-electrical automobiles aiming to again Tesla at bay and are on the level of enter the car industry – to decide on a pie out of Tesla’s rising industry. Lucid MotorsEstablished in 2007, electrical automobile provider Lucid Motors is basically based exclusively in the command of California. The firm develops device for monitoring individual battery cells, mechanical packaging, and controls for battery packs in slide-in automobiles, automobiles, and plane. Expected to originate in early 2021, its first mannequin, the Lucid Air ticket, will commence at $69,000. Per Bloomberg, the customer deliveries of the Lucid Air Dream Edition will be produced at Lucid’s fresh manufacturing facility in Casa Grande, Arizona, and will commence in the spring of 2021. The producer has planned to open eight showrooms by the pause of this year, out of which 5 showrooms will be in California. Peter Rawlinson, CEO of Lucid Motors, says the firm has the technology, cash, and expertise to compete with Tesla, and guarantees to alternate the arena by bringing fresh electrical automobiles into the market, CNBC reviews. Nikola CorpBased out of Phoenix, Arizona, Nikola Corporation (NASDAQ: NKLA) designs and plans to electrify hydrogen-electrical automobiles, concentrated on the industrial trucking market. With the hydrogen gas cell technology, Nikola plans to extinguish automobiles with similar advantages to electrical automobiles. The advantage, which it is counting on, is that this is able to possibly per chance decide much less time to recharge the automobile and can like a longer vary. The firm is a producer of battery-electrical and electrical automobile drivetrains, automobile parts, strength storage programs, and hydrogen fueling space infrastructure.Nikola’s first mannequin Nikola Tre semi-truck, a pioneer battery-electrical semi-truck for the brief-haul trucking sector, will be available to customers by 2021, the firm claims.The automobile producer became as soon as founded by Trevor Milton in 2015. Curiously, he named the startup after Nikola Tesla, taking the eminent inventor’s first title, because the last title became as soon as already taken by Elon Musk.Not too long previously Nikola has been in the records in your total nasty causes, which might possibly per chance hinder its development in phrases of getting additional funding and roar. Per brief-promoting agency Hindenburg Examine, the firm became as soon as deceptive its investors about its electrical automobile technology. Per Bloomberg, The Schall regulation agency has announced a class-motion lawsuit in opposition to Nikola in connection with faux and deceptive recordsdata regarding the firm’s technology. Nikola has denied the accusations and mentioned the records became as soon as baseless. Milton resigned in September following the allegations.NIO IncNio Inc – ADR (NYSE: NIO) is a Chinese language automobile producer specializing in designing and developing electrical automobiles.The firm, which became as soon as launched in 2014, is headquartered in Shanghai. NIO is one amongst the tip Chinese language corporations in the EV section founded by a Chinese language entrepreneur William Li. NIO’s automobiles are gigantic battery-powered SUVs. What makes NIO’s automobiles plenty of from others is its subscription procuring mannequin to simplify the possession of the battery section. It provides to lease it, and if updated batteries are launched, it is probably going you’ll possibly per chance like them fitted in your automobile. It also provides a three-minute battery swap-out carrier, which it calls BaaS. Talking about NIO’s income, the Q3 numbers reached $666.60 million, a 146.4% impact, by the pause of September 2020. The spoiled income rose 87.1% sequentially to $86.30 million. The firm’s stock plight out there can even be noticeable as it announced the completion of the providing of 101,775,000 American depositary shares in September. The firm is planning to make use of the procure proceeds to repurchase equity interests, reviews Yahoo! Finance. NIO started the deliveries of its electrical SUV in 2018 and the 6-seater ES8 in 2019 in China. It officially launched the EC6 electrical coupe SUV in 2019. Rivian AutomotiveCalifornia-basically based exclusively Rivian Automotive, founded in 2009, provides mild-weight and aerodynamic platform automobiles, SUVs, and automobiles. With funding from Amazon.com, Inc. (NASDAQ: AMZN) and Ford Motor Firm (NYSE: F), Rivian is location to lift its two electrical automobiles, RT1 pickup truck and R1S SUV by mid-2021 with the worth vary of round $67,500, TechCrunch reported. The firm has committed to 100,000 electrical supply automobiles to Amazon by 2030 as a section of the e-commerce giant’s Climate Pledge. In a most modern hiss, Rivian has mentioned that this is able to possibly per chance impact its fingers-free driver help machine extraordinary in every automobile it builds. The driver help machine will automatically steer, alter escape, and alternate lanes on notify. The automobiles can like a driver-monitoring machine with a cabin-going by way of digicam helping the drivers for a more in-depth riding journey. Rivian raised $2.5 billion in early 2020 to enhance its electrical automobile market plight and beat Tesla and Nikola, CNBC has reported. The firm honest right this moment went by way of a bumpy lunge, as it bought criticism from Michigan auto sellers for promoting automobiles on to the customers, which Tesla has already been doing.FiskerFounded by Henrik Fisker in 2016, California-basically based exclusively Fisker Inc (NYSE: FSR) specializes in developing luxury slide-in hybrid electrical automobiles. Fisker’s first mannequin, The Ocean, is an all-electrical SUV anticipated to commence production in 2022. The Ocean will be available to customers by way of a leasing equipment, optimized for driver comfort and accessibility. Its initiating ticket is $37,499, and it has a long riding vary up to 300 miles.With a highlight on solid-command battery technology, Fisker targets for smaller battery packs and faster charging times.The automobile designer Henrik Fisker has been in the electrical automobiles industry for greater than a decade. Aid in 2012, Fisker designed an ultra-luxury electrical automobile called the Fisker Karma. He later stopped the production and supplied property to a Chinese language agency after its battery provider A123 Methods filed for monetary catastrophe. The firm plans to originate three fresh digital passenger automobiles by 2025, including a sports activities sedan basically based exclusively on the EMotion theory, a sports activities crossover, and a pickup truck.Fisker claims this is able to possibly per chance lift every automobile with platforms, battery packs, and ingredient programs.XpengHeadquartered in China, Xpeng Inc – ADR (NYSE: XPEV) is China’s main clear electrical automobile firm. It designs, develops, and manufactures clear automobiles that are integrated with developed Net, AI, and self sustaining riding applied sciences. In China, the Xpeng automobiles are belief about to be an substitute to Tesla gadgets. Founded in 2015, the most modern market valuation of the firm is round $35.3 billion. In August, the firm raised $1.5 billion in its IPO in the US. Xpeng has announced that it must implement LiDAR senses into its automobiles. It says this is able to possibly per chance strengthen its subsequent-generation self sustaining riding structure with the automobile’s excessive-precision object recognition efficiency. Contemporary automobiles will be produced with upgraded hardware, HD cameras, millimeter-wave radars, ultrasonic sensors, Lidar, excessive-precision positioning, and mapping programs powered by a excessive-efficiency computing platform. Tesla sued its worn engineer in 2019.for allegedly stealing the Autopilot program secrets and tactics and the use of them at Xpeng. The worn employee later admitted to importing its code to his iCloud.In September 2020, for the first time, Xpeng exported its automobile outside its dwelling country China. It entered the Norway market with G3 electrical SUVs, marking the initiating of the opponents with Tesla in Europe.Image: Courtesy of Lucid MotorsSee more from Benzinga Click on right here for choices trades from Benzinga UK Braces For Pfizer COVID-19 Vaccine Rollout, Calls It ‘Biggest Civilian Logistical’ Effort(C) 2020 Benzinga.com. Benzinga would now not present funding advice. All rights reserved.