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Tesla isn’t facing a wave of competition because there isn’t any competition in the electric-car market

Electric cars have been a topic of frenzied discussion for almost a decade. The chatter has greatly intensified as Tesla has grown and at times become the most valuable US automaker by market capitalization, beating out the Detroit Big Three: General Motors, Ford, and Fiat Chrysler Automobiles.

True, there are quite a few more electric vehicles coming to market in the next few years than have been in the market for the past 10. This has led Tesla naysayers – the likes of Jim Chanos, who has built up an oft-proclaimed short position in Tesla shares – to adopt a tough-minded thesis about CEO Elon Musk’s carmaker.



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