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Tesla's share price has gone up a lot lately. It's gained 80% in the last six months. In fact, it's up 55% in just the last month!
At current levels, investors are a bit ambivalent about buying them, but keep in mind that Tesla may dominate the electric vehicle, battery and renewables industries in time to come. In many parts of the world internal combustion engines may soon be banned. By soon, I mean the end of the decade (by 2030).
Electric vehicle sales are rising fast, to about 6.4 million vehicles per year. However, that's only about 7% of global car sales. There's a lot of space to fill.
The chart below shows the market capitalisation of the global auto industry, since 2018. The traditional manufacturers are in dark green at the bottom. Battery makers are in light blue. Tesla is in light green, expanding fast. Ride-hailing companies like Uber are in grey.
