Electric vehicle giant Tesla was predicted to collapse due to growing competition. Traditional automakers have begun investing billions of dollars in the electric car industry, which will prevent the American company from maintaining its leadership in the US market for long time.

Tesla accounts for the majority of electric vehicles sold in the U.S. market in 2020 (79 percent), according to IHS Markit. However, analysts expect an influx of hundreds of new models from other companies by 2025. “There is no surprise that Tesla continues to dominate sales because it is the only one that actually has viable products. In a growing market, it is extremely difficult to maintain a large share regardless of the industry. We are starting to move towards a larger and really substantial number of manufacturers in the market, because of what Tesla should lose its share,” said Fisk, deputy director of HIS Markit.