The electric vehicle industry is growing at a rapid pace and as such is attracting the entrance of established manufacturers, such as the China-based Geely (GELYY). But are these new entrants in general, and Geely specifically, be able to threaten Tesla’s (TSLA) leadership position?.One of the hottest industries in which to invest currently is electric vehicles (EVs). As the globe inches towards clean energy production and consumption, companies within the EV space are poised to grow at an accelerating pace.
While 2020 was a breakthrough year for EV stocks, several EV companies have underperformed the market this year, allowing investors to buy growth stocks at more attractive valuations.
Here we compare two popular EV stocks. One is a market leader, Tesla (NASDAQ:TSLA), and the other is Geely (GELYY), a company that is domiciled in the country with the world’s largest EV market—China.