Electric Landscape – Tesla Feels New Competition ⚡🚗

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Electric Landscape – Tesla Feels New Competition

Expected to almost triple in value in five years, the electrical vehicle market has been one of the fastest-growing industries favored by investors. Currently, the king on both the national and global front of the EV market has been Tesla, with almost 59% market share domestically. Now, new reports of competition have worried both fans and investors of Tesla, with German manufacturers BMW and Mercedes debuting their high-end EV concepts over the past weekend. Throughout this year, several esteemed car manufacturers have either ramped up production or announced new plans regarding the EV market. For Tesla, their biggest competitors may be coming from China, with manufacturers BYD and Leapmotor making aggressive pushes into European and American markets. Estimates have already pointed to forfeits of over 20% European EV market share by 2030. With improvements to brand recognition, production, and global regulatory standards, there is a high chance Chinese car manufacturers could finally become commonplace in Western society.

With competition continuing to grow at a rapid pace, Bank of America has estimated that Tesla’s monopoly-esque market share will drop to under 18% in just three years. This increased competition has directly affected Tesla as recently as last week, where new price cuts to match competitors fueled a sell-off of 5% of their stock value. Regardless, Tesla’s stock has remained a fan favorite on Wall Street, as mass scale and innovation have driven their stock to deliver a 126% year-to-date return.

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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