For nearly a decade, Tesla (NASDAQ: TSLA) has been the most prominent player in the relatively new elective vehicle (“EV”) game, becoming the world’s largest EV producer as well as the most valuable car company in the world in the past couple of years. The California-based EV maker currently has the largest market share of the EV sector, with most of the electric vehicles sold in America being Teslas. According to IHS Markit, 79% of the zero-emission electric cars sold in 2020 were manufactured by Tesla, but it looks like the company’s stranglehold on America’s EV sector may have an expiry date.
Thanks to increasingly strict emission standards and plans to switch to green energy, the next decade will see more established automakers and startups jump into the electric vehicle sector with plenty of new offerings. Several of these companies have already invested billions of dollars in building electric vehicles, and experts say that by 2025, the American market will be home to hundreds of new EV models compared to the couple dozen that are available today. Despite all the efforts Tesla…
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