From Nasdaq:

In 2024, Tesla faced increasing competition from Ford and GM in the electric vehicle market, but Chinese automaker BYD surprisingly emerged as Tesla’s biggest competition, surpassing Tesla as the biggest seller of fully electric cars with over 525,000 battery electric vehicles sold in the fourth quarter.

BYD’s success stems from its focus on lower priced, mass market EVs, with plans to increase exports. Tesla is expected to launch a lower-priced EV later this year to potentially regain growth momentum in the market.

Investors may want to consider BYD as well, as it continues to expand its presence globally, with plans to introduce more affordable EV options. Tesla remains a player in the market, with potential for growth, making it a noteworthy stock to watch in the future.



Read more at Nasdaq: Is Tesla Still a Phenomenal Growth Stock?