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Fortune
Fortune
Christiaan Hetzner

Tesla’s rivals are launching more and more EV competitors. The problem? Most just aren’t very good

Elon Musk's price war is paying off as competitors struggle to compete against Tesla. (Credit: Nathan Laine—Bloomberg via Getty Images)

Tesla has been swamped by dozens of new electric vehicles from incumbent rivals looking to poach away Elon Musk's loyal customers, but one look at their actual sales figures shows that many are suffering a slow, protracted death in America's fledgling EV market. 

As the reality of their dismal sales volumes dawns on them, more carmakers are reconsidering their options amid a glut of models that all eke out an fringe existence in a country dominated by industry leader Tesla. Musk's company controls a whopping 60% share compared to the 6% of its closest rival brand, GM-owned Chevrolet.

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