Tesla is a better choice over Lucid, Xpeng, and Nio
When Nasdaq (QQQ) rebounded from month-long lows, Tesla (TSLA) rose with it. The stock bottomed at below $800 earlier this month to trade at above $1010 for the week ended March 25. Tesla is the best electric vehicle stock. It is ahead of Lucid (LCID) and Rivian (RIVN).
Besides Lucid issuing a weak production forecast and Rivian reporting barely any sales, Tesla’s strong unit sales is just one reason it is a better stock. Tesla has Gigafactories around the world. This lowers its risk of staffing disruption and supply shortages.
As an early entrant, Tesla’s brand is well known. It has hardly any marketing spend that its competitors need to win customers. Word of mouth for Tesla leads to growing sales globally.
On the inside, Tesla has better software. Its auto-driving solution is under development. When ready, customers must pay more after Tesla raised prices.
Tesla has a super-charging network. Customers need not worry about running out of power before reaching the nearest charging station.
In China, Xpeng (XPEV) and Nio (NIO) are feeling Tesla’s pressure. Nio recently reported poor sales. Conversely, Tesla’s business is thriving in the region.
EV investors should consider TSLA stock over the others.