The electrification of the automotive industry has hit the fast lane, and for that we have Tesla (NASDAQ:TSLA) to thank.
The company and its CEO Elon Musk are at times lightning rods for controversy, but it is hard to deny the impact they have had on the industry. Musk’s vision for Tesla from the start was to prove to the world that electric vehicles (EVs) could be economically viable if done right, and by all accounts he has succeeded.
Of course, as they say, imitation is the sincerest form of flattery. A lot of companies have borrowed from Tesla’s playbook, and they stand to profit as well.
Here’s why three Motley Fool contributors believe Ford Motor (NYSE:F), Panasonic (OTC:PCRFY), and Lucid Motors, which is in the process of merging with Churchill Capital Corp IV (NYSE:CCIV), are set up well