Teslaand Apple are two of the biggest tech companies in the world. Both offer innovative products that continue to push technology towards the future.
Both Tesla and Apple rely on the exclusivity of their products to retain customers and attract new loyal followers. You might have seen some overlap between the business models that Apple uses and similar strategies from Tesla.
Will Tesla surpass Apple as the world's biggest company?
According to The
Washington Post, by late April, Tesla was worth more than $675 billion. However, Apple’s market value is about $2 trillion. Tesla CEO Elon Musk tweeted in March that he sees Tesla becoming the world’s biggest company.
Tesla may not yet be in a position to overcome the other tech giant, but they can learn a lot from the success of the iPhone inventors. In fact, you might have already noticed some ways in which the two companies are alike.
Tesla products are built off of exclusivity
Using Apple's business philosophy, The Washington Post noted that "Tesla built its brand on exclusivity and aspirational products, prioritizing the experience of ownership as much as the utility of the device itself."
For example, both companies use proprietary software that is only compatible with their hardware. Apple devices and Tesla EVs require their own unique charging cords that don’t work with other brands.
Tesla technology uses battery styles and sizes that are different from other EV brands on the market. This exclusivity creates an "ecosystem" where consumers are locked in to use only Tesla products for anything from repairs to software updates.
A similar workplace culture at Apple and Tesla
Both tech giants recruit talent from the top schools in the nation, and employees often swap between the industry leaders. Former employees who worked with both companies said they have a lot in common. One employee shared with The Washington Post that both Steve Jobs and Elon could be "cutthroat and terse and explosive."
Employees have opposing opinions about products that come out of Tesla, like the Cybertruck. In some cases, former Apple employees have proposed new designs with Tesla that weren’t supported by market research.
Both companies also faced similar backlash from consumers. Apple has been accused of "throttling" older devices to encourage new purchases. The National Highway Traffic Safety Administration is currently investigating the way Tesla handles battery management software updates.
Things to consider before you buy a brand’s product
Before you make a car purchase, you might want to consider an automaker’s approach to building products or customer service. You most likely want to do business with a company that consistently prioritizes your needs and interests.
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