Rivian vs. Lucid: This Stock Is Clearly the Better Buy
Robotaxi growth is the future of EVs.
Overview
Investors looking for high-growth electric vehicle (EV) stocks should pay attention to what made Tesla (NASDAQ: TSLA) a $1 trillion business. CEO Elon Musk laid out Tesla's recipe for success in a 2006 blog post titled, "The Secret Tesla Motors Master Plan (just between you and me)." In the post, Musk detailed Tesla's three biggest priorities:
While it took longer than Musk initially expected, Tesla executed this vision perfectly. The company released the Roadster sports car in 2008 at a price of roughly $100,000. The Model S followed in 2012 at around $60,000. The Model 3 debuted in 2017 at just $35,000.
Details
Tesla gradually scaled its business to sustainably produce low-cost vehicles at a profit, eventually making it the world's largest EV company. Tesla then had the scale, capital, and brand recognition to invest in other opportunities such as robotaxis and autonomous semitrucks.
Source
Originally published at www.fool.com.