Tesla’s phenomenal rise from launching its first vehicle in 2008 to its market cap exploding beyond $800 billion earlier this year ‒ dwarfing the traditional automotive manufacturers ‒ is breathtaking. With revenues last year of $20 billion, questions over whether it can sustain that valuation long-term have to be raised. One thing is clear ‒ the company, under the guidance of South African-born (yes, we had to mention it) Elon Musk, has shaken the automotive industry to its core by kickstarting the electric vehicle (EV) revolution.

Traditional automotive manufacturers, or OEMs (original equipment manufacturers), that felt they could control the pace at which they released electric vehicles into the market have been put under pressure by Tesla, says GridCars founder and director Winstone Jordaan. “The OEMs thought they could slowly time out the investments they’d made into engine factories, but that’s been completely removed from them.”