Research: Tesla Market Share

The major EV manufacturers of the world are in a race to produce a more efficient, reliable vehicle that will sell more than any other and dominate the market.

An article from Clean Technica cites a quote that Tesla is the primary EV dealer in North America, with Volkswagen in the lead in Europe. China, however, does not have a dominant manufacturer of EVs. This quote can be found here: https://cleantechnica.com/2020/05/24/1-tesla-29-of-global-electric-vehicle-market-in-q1-2020/. Reportedly, Tesla has 12% market share of EVs in China’s market while Volkswagen has 8%. Regardless, its good to see giants competing for such a beneficial industry (Electric Vehicles).

Tesla has a head start of having installed a huge factory in China recently, but the COVID-19 pandemic has hurt those efforts significantly.

In the US, Tesla owns around 60% of the market, and is a significant factor behind EVs’ renewed popularity in the country (https://electrek.co/2020/02/04/tesla-electric-car-sales-us-market-share/) This will likely change, as competition in the EV market will start to build as more companies enter the industry.

Tesla’s stock price is currently at $816.88 with projections up to $1,078.