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.