1 Tesla Competitor That Could Unseat the EV Giant by 2029
2026-03-22 01:25:00 ET
In many ways, Tesla (NASDAQ: TSLA) has faced limited competition over the last decade. Limited competition is a big reason why the company still commands a U.S. market share of more than 50%.
Sure, other carmakers have electric vehicles (EVs) on the market. But many of those EVs are priced over $50,000, have relatively limited ranges, and lack the brand prestige of a Tesla. But there's one emerging competitor that will give Tesla a run for its money in 2026. By 2029, Tesla could lose one of its most valuable crowns.
On the surface, Tesla is a fairly diversified company when it comes to existing revenue streams. Roughly one-quarter of the company's revenue comes from sources like energy storage and generation -- which includes revenue from its solar and battery storage businesses -- as well as a variety of revenue streams that Tesla classifies as "services and other." And while around 75% of the company's revenue does come from its automotive business, Tesla has many models to thank for this income stream, including the Model S, Model X, Cybertruck, Model 3, and Model Y.
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