NKLA (seems like a scam), NIO (seems really good), and with a huge amount of SPACs buying EV companies, they are going to have lots of room to grow. Also many of these companies have been operating for a decade trying to create a product like KNDI, PLUG and they are getting closer with their products. I didn't jump into TSLA early as it wasn't profitable, but now they are making money so it fits my investment principles.
Take a look and do some research here at the competitors to the traditional car dealers [1].
[1] https://docs.google.com/spreadsheets/d/1sKMfBZNkHdvaVKmweuv3...
- Sincerely, a TSLA hodler since summer 2019, when I bought my first car, a Tesla.
I'll be holding the stock I have, but I don't think traditional car companies are going away any time soon. On the contrary, I'm thinking of getting a Taycan, a BMW or some other EV car.
Tesla isn't overpriced per se, but once the spigot of cheap debt and printed money stops, we might see a good decline from the stock market. Not that I'm going to bet against the market either.
Comparisons that try to make Tesla seem like an ordinary car manufacturer are probably quite a bit off.
They are ahead of the field, their chargers are faster, but there's already thousands of other places with relatively high power chargers that can likely be upgraded as demand materializes (at a minimum, the competition is not starting from 0).
Many of the companies mentioned are quite far behind, and will face severe challenges in the coming years trying to adjust with little marging for error.
But most importantly Tesla is also a battery company! Who knows, most of the other players might even have to buy batteries from Tesla.
Gut feeling tells me that Tesla will still grow significantly, especially if they start selling batteries to other markets at scale, but also the car business itself will experience a tremendous growth.