Hyperdrive
Tesla Created Demand for Electric Cars, But Only for Teslas
- Over 120 EVs will vie for less than 6% of U.S. market in 2025
- Toyota executive predicts an ‘electrified Armageddon’
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Tesla Inc.’s stock is soaring, and traditional auto manufacturers are staging glitzy presentations of new plug-in models. You’d think the electric-vehicle age was finally dawning.
But so far, Tesla is the only car company looking likely to benefit in the coming years. Look at every other corner of the U.S. auto industry -- the world’s most valuable automaker, dealers, consumer surveys and market forecasts -- and a more ominous picture emerges.