According to foreign media reports, after nearly monopolizing the electric vehicle market for many years, Tesla will face fierce competition from Volkswagen, general motors and other companies in the next few years. At the same time, commercial vehicles such as buses and light trucks are expected to start large-scale electrification. Of course, Tesla is not waiting to die, and the company is also advancing at a high speed to prepare for the upcoming cybertruck and semi.
In addition, the electric vehicle battery market is currently dominated by Asian companies. At present, 97% of electric vehicle batteries are supplied by battery companies in China, Japan and South Korea, Nicholson said. The European Commission recently approved a multibillion dollar investment to boost battery production in Europe, and US policy makers are moving in that direction.