How Tesla defined a new era for the global auto industry

Tesla’s focus on pioneering new approaches in manufacturing, designs in software and electronic architecture, which enabled it to introduce innovations faster than rivals, drew comparisons with Apple. — Reuters

FRANKFURT/BEIJING/DETROIT: Tesla Inc’s rapid rise to become the world’s most valuable carmaker could mark the start of a new era for the global auto industry, defined by a Silicon Valley approach to software that is overtaking old-school manufacturing know-how.

Tesla’s ascent took many investors by surprise. But executives at Daimler AG, the parent company of Mercedes-Benz, had a close-up view starting in 2009 of how Tesla and its chief executive Elon Musk were taking a new approach to building vehicles that challenged the established system.