Tesla Gets a Big Win That May Cost Legacy Carmakers Millions

Tesla (TSLA) – Get Tesla Inc Report dominates the electric vehicle market, and its lead is likely to grow. That’s because the manufacturer of the Model 3 sedan and the Model Y SUV is one of the few automakers able to meet demand in the face of supply-chain disruptions and rising prices for raw materials such as nickel, aluminum and palladium.

The automotive group will officially open its fourth production plant, in Austin, on April 7. This would enable it to produce just over 1.42 million vehicles in 2022 against 930,442 in 2021, industry sources estimate.

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