TSLA - Tesla: Competition Is Mounting
- The emergence of new EV startups with impactful innovations is getting ready to enter the automotive world, with mindsets that are reminiscent of a young Tesla.
- Legacy automakers are starting to invest heavily in EV development, creating compelling, fully electric, vehicles from the ground up instead of trying to rely on existing platforms.
- China has had a fairly established EV market for some time and with domestic markets favoring locally-produced, cheap vehicles, Tesla is not well positioned to fight in the highly-contested market.
- Even though the creation of more EVs will contribute to a larger market for EVs as a whole, demand will not grow fast enough to meet supply.
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Tesla: Competition Is Mounting