In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
So yes, Saudi Aramco could be Tesla’s biggest competitor. However, catching Saudi Aramco could be impossible for Tesla because the automaker has more competition and a product anybody can duplicate.
Tesla Inc. (NASDAQ: TSLA) is a no-brainer. Tesla is the world’s most prominent builder of electric vehicles. I think Tesla will profit from high gas prices because it builds vehicles that do not need gas or diesel fuel.
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Tesla became the first company to sell over two million electric vehicles in the third quarter of 2021, InsideEvs estimates. Tesla sold its 500,000 vehicle in the fourth quarter of 2018 and the one millionth vehicle in the second quarter of 2020.
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Therefore, I estimate Tesla’s quarterly revenues grew by $5.922 billion during the COVID-19 pandemic. Stockrow estimates Tesla’s revenues grew by an astounding 98.11% during the quarter ending on 30 June 2021.
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Yes, Tesla made money in 2020. Tesla Motors (TSLA) reported a quarterly gross profit of $2.066 billion and a quarterly operating income of $575 million on 31 December 2020.
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