Tesla, with its $57-billion market cap and more than 300,000 cars sold, is revolutionizing the global auto industry one premium electric sedan at a time.
But early investor Michael E Marks, who was also interim chief executive when ‘the company had 75 people and a car that didn’t work’, believes Tesla may evolve into just a niche carmaker as legacy rivals up their electric vehicle game.
The Elon Musk-led company, despite its cult status, needs to quickly expand its product range and ramp up manufacturing if it’s to compete with the likes of General Motors that are belatedly but strongly finding their bearings in a fast-changing market, he said.
“The first-mover advantage depends on the stage of evolution of the company and maturity of the market,” Marks, an early investor in Tesla, said to media sources.
