Looking Ahead: How Will Tesla Handle Increased Competition From Electric Vehicles?

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You’re here (NASDAQ: TSLA) has dominated electric vehicle sales for the past few years, will it continue? In this video clip of “The Rank” on Motley Fool Live, recorded on July 13Fool.com contributors Matt Frankel and John Bromels explain how there’s more competition on the horizon for the automaker that will change the electric vehicle industry.

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Matt Frankel: Tesla currently delivers more than one million cars a year. They are profitable. I don’t know if you know the TSLAQ crowd on Twitter (NYSE: TWTR) it says the company is going bankrupt. This is not the case. It is a very profitable business. John’s face says it all now.

John Bromel: I will speak so everyone can see my face.

Frankel: So. It is a very profitable business. My problem with Tesla, and then I’ll shut up and let you do the talking, is that I think there are better games in the EV space. I think the next two or three years will be the biggest shift in the electric vehicle space we’ve seen to date. It was Tesla and everyone. Now it will be Tesla and many other companies. General Motors (NYSE:GM) is one of my biggest equity positions and is how I play most of the time in the EV space. I have a small amount of Lucid (NASDAQ:LCID). You can criticize me for anything you want.

Bromines: No, because I have some NIO (NYSE: NIO) and a bit of Canou (NASDAQ: GOEV).

Frankel: Well, there it is. I just think the market is underestimating the increase in competition they are going to see in the next few years.

John Bromels holds positions at Canoo Holdings Ltd., Nio Inc. and Tesla. Matthew Frankel, CFP® holds positions at General Motors and Lucid Group, Inc. The Motley Fool holds positions and endorses Nio Inc., Tesla and Twitter. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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