Tesla's Rival is in the Fast Lane
World electric vehicle (EV) sales will soar to about 73 million units in 2040, up from around two million in 2020, according to forecasts by Goldman Sachs.
The forecast goes on to project that the share of EVs in worldwide car sales is expected to rise to 61% from 2% during that span. And the share of EV sales could be well over 80% in many developed countries.
In my opinion, the above is too optimistic - a best case scenario.
A more important question for investors is which company and stock will lead the EV revolution going forward?
Tesla (TSLA) is still in the driver’s seat right now but their is a rival that can be clearly seen approaching at high speeds in the rear-view mirror. And in both 2021 and 2022, it more than tripled sales from the previous year.