The difference here (as often is the case when comparing industrial vs. consumer equipment) is that the Tesla motor is rated for peak load under favourable conditions while the industrial motor is rated for continuous load under worst-case conditions. That 3hp industrial motor will run at 3hp shaft power at its maximum rated temperature for its rated operational life.
Many DIY electric car conversions use DC motors rated between 9hp and 20hp. They routinely get 100-200hp+ out of these motors for a few seconds at a time.
