Bloomberg believes that Tesla has around a year and a half left to enjoy its dominant position on the electric car market. Volkswagen Group is on a course to overtake it and ultimately leave behind for good.
In 2025, the publication believes, both manufacturers will have sold around 2.5 million EVs each. Other automotive marques largely avoid committing themselves to full electrification nowadays, obviously concerned with the spiking material costs for battery production. As power cell prices rise across the board, profits dwindle, and the lowering public interest in ICE cars makes matters even worse.
Right now, U.S.-based Tesla, German Volkswagen Group and China-based BYD remain at the top of the electric carmakers’ pedestal. Other companies are expected to challenge the top three positions in three or four years. The ongoing supply chain crisis might be gone by that point, freeing up resources for various companies to expand their EV offerings.