With the crescent grow of electric vehicles on the market, it is natural to think that the competition inside the market will grow, making companies such as Tesla run after better developments. However, that is not what Gene Munster thinks.
The analyst from Loup Ventures made an analysis and predictions of the future inside the EV market. He expects even with the rise of electric vehicle models, with 24 different ones in the US alone, Tesla Model 3 will be dominant by 2020.
According to Munster, the car from Elon Musk’s company fits exactly categories that attract customers to buy a new EV. These categories are in the matter of price range and miles traveled per charge. Tesla Model 3, right now, has a starting price at $38,990 and can reach 310 miles on a single charge.
Here is a table by Loup Ventures on the available EVs in the US including prices and ranges. This comparison can show which vehicle can be more worthy if you don’t want to buy a Tesla.
Another fact on the leading scenario by Elon Musk’s company is the headstart of the company that took place around seven years ago. This is enough time for the company to develop specific techs and, with the slow rise of customers, adapt the features better for what they may need or want. This certifies their position on top of the other companies.
You can check the whole report by the analyst on Loup Ventures here.