With a $145.9 billion fortune at press time Elon Musk, the founding father of the electric automobile manufacturer Tesla Inc (NASDAQ: TSLA), has added more than $100 billion to his rep price since January 2020. Tesla’s shares had been going up, beating every analyst’s expectations and frequent sense, whereas its market capitalization reached $600 billion on Dec. 7. The corporate is aiming to promote 500,000 battery-powered automobiles by the pinnacle of this twelve months. Tesla’s car products embrace Model 3, Model Y, Model S, and Model X. Model 3 is a four-door sedan. Model Y is a sport utility automobile (SUV) constructed on the Model 3 platform. Model S is a four-door sedan. Model X is an SUV.Tesla has changed the auto industry. But it indubitably is now not the wonderful electric automobile manufacturer in the world market. Just a few of the successfully-organized, established automakers are making fully electric, and hybrid-electric automobiles aiming to withhold Tesla at bay and are getting ready to enter the automobile industry – to rating a pie out of Tesla’s rising enterprise. Lucid MotorsEstablished in 2007, electric automobile provider Lucid Motors relies in the divulge of California. The corporate develops intention for monitoring particular person battery cells, mechanical packaging, and controls for battery packs in mosey-in automobiles, automobiles, and airplane. Anticipated to open in early 2021, its first model, the Lucid Air heed, will launch at $69,000. In protecting with Bloomberg, the buyer deliveries of the Lucid Air Dream Model shall be produced at Lucid’s unique factory in Casa Grande, Arizona, and might perhaps merely launch in the spring of 2021. The manufacturer has planned to open eight showrooms by the pinnacle of this twelve months, out of which 5 showrooms shall be in California. Peter Rawlinson, CEO of Lucid Motors, says the company has the technology, money, and expertise to compete with Tesla, and guarantees to alternate the world by bringing unique electric automobiles into the market, CNBC reports. Nikola CorpBased out of Phoenix, Arizona, Nikola Corporation (NASDAQ: NKLA) designs and plans to earn hydrogen-electric automobiles, focusing on the industrial trucking market. With the hydrogen gasoline cell technology, Nikola plans to invent automobiles with identical advantages to electric automobiles. The earnings, which it be reckoning on, is that this might merely non-public much less time to recharge the automobile and might perhaps merely hang an extended fluctuate. The corporate is a manufacturer of battery-electric and electric automobile drivetrains, automobile system, energy storage programs, and hydrogen fueling dwelling infrastructure.Nikola’s first model Nikola Tre semi-truck, a pioneer battery-electric semi-truck for the fast-haul trucking sector, shall be on hand to potentialities by 2021, the company claims.The automobile manufacturer used to be essentially based by Trevor Milton in 2015. Interestingly, he named the startup after Nikola Tesla, taking the well-known inventor’s first name, as the closing name used to be already taken by Elon Musk.Currently Nikola has been in the guidelines for the total detestable reasons, which might perhaps hinder its growth when it comes to getting extra funding and growth. In protecting with fast-promoting agency Hindenburg Analysis, the company used to be misleading its investors about its electric automobile technology. In protecting with Bloomberg, The Schall law agency has introduced a class-action lawsuit against Nikola in connection with untrue and misleading knowledge about the company’s technology. Nikola has denied the accusations and acknowledged the knowledge used to be baseless. Milton resigned in September following the allegations.NIO IncNio Inc – ADR (NYSE: NIO) is a Chinese car manufacturer specializing in designing and developing electric automobiles.The corporate, which used to be launched in 2014, is headquartered in Shanghai. NIO is indubitably one of many pinnacle Chinese companies in the EV section essentially based by a Chinese entrepreneur William Li. NIO’s automobiles are successfully-organized battery-powered SUVs. What makes NIO’s automobiles assorted from others is its subscription buying model to simplify the possession of the battery allotment. It offers to lease it, and if updated batteries are launched, you would hang them fitted for your automobile. It additionally offers a 3-minute battery swap-out carrier, which it calls BaaS. Speaking about NIO’s earnings, the Q3 numbers reached $666.60 million, a 146.4% develop, by the pinnacle of September 2020. The inferior earnings rose 87.1% sequentially to $86.30 million. The corporate’s stock divulge available in the market is additionally noticeable because it introduced the completion of the providing of 101,775,000 American depositary shares in September. The corporate is planning to use the web proceeds to repurchase equity interests, reports Yahoo! Finance. NIO started the deliveries of its electric SUV in 2018 and the 6-seater ES8 in 2019 in China. It formally launched the EC6 electric coupe SUV in 2019. Rivian AutomotiveCalifornia-essentially based fully Rivian Automobile, essentially based in 2009, offers lightweight and aerodynamic platform automobiles, SUVs, and automobiles. With funding from Amazon.com, Inc. (NASDAQ: AMZN) and Ford Motor Firm (NYSE: F), Rivian is determined to bring its two electric automobiles, RT1 pickup truck and R1S SUV by mid-2021 with the price fluctuate of round $67,500, TechCrunch reported. The corporate has dedicated to 100,000 electric delivery automobiles to Amazon by 2030 as a allotment of the e-commerce massive’s Native weather Pledge. In a recent assertion, Rivian has acknowledged that this might merely build its fingers-free driver assistance intention traditional in every automobile it builds. The motive force assistance intention will automatically steer, alter tempo, and alternate lanes on convey. The automobiles will hang a driver-monitoring intention with a cabin-going by plot of digicam helping the drivers for an even bigger riding expertise. Rivian raised $2.5 billion in early 2020 to toughen its electric automobile market divulge and beat Tesla and Nikola, CNBC has reported. The corporate now not too prolonged in the past went by plot of a bumpy skedaddle, because it obtained criticism from Michigan auto dealers for promoting automobiles straight to the potentialities, which Tesla has already been doing.FiskerFounded by Henrik Fisker in 2016, California-essentially based fully Fisker Inc (NYSE: FSR) makes a speciality of developing luxurious mosey-in hybrid electric automobiles. Fisker’s first model, The Ocean, is an all-electric SUV anticipated to open production in 2022. The Ocean shall be on hand to patrons by plot of a leasing package deal, optimized for driver convenience and accessibility. Its starting heed is $37,499, and it has a prolonged riding fluctuate up to 300 miles.With a highlight on stable-divulge battery technology, Fisker objectives for smaller battery packs and quicker charging cases.The automobile clothier Henrik Fisker has been in the electric automobiles enterprise for more than a decade. Lend a hand in 2012, Fisker designed an ultra-luxurious electric automobile called the Fisker Karma. He later stopped the production and offered sources to a Chinese agency after its battery seller A123 Programs filed for chapter. The corporate plans to open three unique digital passenger automobiles by 2025, including a sports sedan in step with the EMotion thought, a sports crossover, and a pickup truck.Fisker claims this might merely bring each and each automobile with platforms, battery packs, and part programs.XpengHeadquartered in China, Xpeng Inc – ADR (NYSE: XPEV) is China’s main successfully-organized electric automobile company. It designs, develops, and manufactures successfully-organized automobiles which might be integrated with superior Info superhighway, AI, and independent riding applied sciences. In China, the Xpeng automobiles are notion about to be another option to Tesla gadgets. Founded in 2015, the recent market valuation of the company is round $35.3 billion. In August, the company raised $1.5 billion in its IPO in the US. Xpeng has introduced that it would implement LiDAR senses into its automobiles. It says this might merely increase its subsequent-technology independent riding structure with the automobile’s excessive-precision object recognition efficiency. Fresh automobiles shall 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 broken-down engineer in 2019.for allegedly stealing the Autopilot program secrets and ways and the use of them at Xpeng. The broken-down worker later admitted to importing its code to his iCloud.In September 2020, for the main time, Xpeng exported its automobile out of doors its residence country China. It entered the Norway market with G3 electric SUVs, marking the starting of the opponents with Tesla in Europe.Image: Courtesy of Lucid MotorsSee more from Benzinga Click right here for alternatives trades from Benzinga UK Braces For Pfizer COVID-19 Vaccine Rollout, Calls It ‘Greatest Civilian Logistical’ Effort(C) 2020 Benzinga.com. Benzinga would now not present funding recommendation. All rights reserved.