Will Tesla Succumb to Legacy Automakers’ Onslaught into EV Space?
For more than a decade, California-based EV company Tesla has been the dominant player in the nascent electric vehicle market. After launching the original Tesla Roadster back in 2008, Tesla was the first company to begin mass producing electric vehicles, and by 2021, it had eclipsed most major car makers in value. However, Tesla’s monopoly on the electric vehicle industry will soon be threatened as legacy automakers invest more into developing and selling EVs. As governments across the world set increasingly strict emission standards and deadlines to ban the sale of new combustion engine vehicles, legacy automakers will adopt electrification…