Beyond Elon Musk's leadership in the EV market, Tesla may also be worth betting on because of its exciting future
are quickly becoming the norm for automakers, with Tesla leading the pack for the burgeoning industry. And while the company’s EVs have made it what it is today, Elon Musk’s artificial intelligence and autonomous mobility plans may make it what it is tomorrow — which is why many investors consider Tesla the top electric vehicle stock worth owning.
According to the International Energy Agency, EV sales made up around 9 percent of all car sales in 2021, a figure that has more than tripled since 2019. A recent report from Grand View Research expects the company’s sales to grow at about 38 percent per year through 2027, due to expected production cost dropoffs and improved battery ranges.
Part of Tesla’s efficiency comes from its already highly automated factories, which has allowed the company to increase vehicle production at facilities around the world. In the last year, efficiency has also led to increasing revenue, where Tesla saw revenue increase by 73% over the last year to $62.2 billion. Additionally, free cash flow increased by about 188% in the past year to around $6.9 billion.and Gigafactory Austin, Texas offer the automaker another unique advantage.
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