The electric elephant in the room
To me, Tesla remains the benchmark. With a valuation completely dwarfing its traditional peers, this dominance reflects a deep belief in a software led vision. But the picture is becoming rather complicated. A few years ago, Western boardrooms dismissed Chinese electric vehicles. Then, one company changed everything.
Backed by savvy early investors, BYD is now manufacturing vehicles at staggeringly low costs and expanding globally at a frightening pace. Tesla is facing intensifying pressure on pricing from rivals who are entirely comfortable surviving on razor thin margins just to steal market share. Naturally, past dominance does not guarantee future glory. Tesla could maintain its crown, but you would be foolish to ignore the competition.