Tesla Motors (NASDAQ:TSLA) success in electric vehicles won't go unchallenged for long, and challengers are improving their offerings. In fact, General Motors (NYSE: GM) Chevy Volt was actually the best-selling electric vehicle in the country last year.
But the bigger challenge is coming from BMW (NASDAQOTH:BAMXF), which is already seeing commercial success with two new offerings, the all-electric i3 and the electric hybrid i8. Unlike other early entrants into the EV market, BMW seems to be willing to completely redesign its vehicles to take advantage of the technology advantages EVs provides. It's even built the i3's chassis out of carbon fiber, lowering weight and introducing technology that may eventually be pushed to the larger line of vehicles.
In the video below, specialist Travis Hoium covers why BMW is going to be the company to watch as a competitor to Tesla.
Can this company revolutionize the auto industry? (Hint: It's not Tesla)
A major technological shift is happening in the automotive industry. Most people are skeptical about its impact but even Warren Buffett is buying into its potential. He recently called it a "real threat" to one of his favorite businesses. An executive at Ford called the technology "fantastic." The beauty for investors is that there is an easy way to ride this megatrend. Click here to access our exclusive report on this stock.
Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends BMW, General Motors, and Tesla Motors. The Motley Fool owns shares of Tesla Motors. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.