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Background: The electric vehicle (EV) market has experienced significant growth in recent years, driven by global efforts towards sustainable transportation. Among the prominent players in this market, Tesla stands out as an innovative force. This research paper aims to comprehensively analyze Tesla's strategies for enhancing its products and maintaining a competitive edge in the EV industry. Problem Definition: This paper addresses several key research questions, including how Tesla's commitment to product improvement provides a competitive advantage over traditional gasoline-powered vehicles, what are the mechanisms enabling Tesla to sustain its product advantage in the evolving EV market, and how Tesla adapts its product offerings to diverse regional market dynamics. Methodology/Results: We employ a case study methodology to examine Tesla's product enhancement strategies across different markets and scenarios. Our analysis reveals that Tesla has made significant advancements in battery technology, engine efficiency, intelligent driving features, user experience, and cost-effectiveness. These improvements have given Tesla a distinct edge over traditional vehicles, offering better range, performance, and lower total cost of ownership.
Li et al. (Thu,) studied this question.