1 Metric From Tesla Earnings Shows Bears Are Framing Competition the Wrong Way
For years, Tesla (NASDAQ: TSLA) skeptics and bears have warned that competition is coming, at which point the electric-vehicle (EV) leader would get crushed by legacy automakers with deeper pockets and more established manufacturing operations. Most traditional automakers have been dragging their feet in the development and launch of competitive EVs, but 2020 seemed to be an inflection point for EV adoption.
It's worth noting that battery pack prices dipped below $100 per kWh for the first time last year, according to Bloomberg New Energy Finance, a critical milestone in the path toward making EVs more cost-competitive with internal combustion engine (ICE) vehicles. A slew of traditional automakers have also unveiled new EVs or laid out long-term strategies to electrify their product portfolios over the past year. In no uncertain terms, EV competition is coming and will intensify, but that's the wrong way to frame the rivalry.
Image source: Tesla.
Source Fool.com
