Tesla (NASDAQ: TSLA) took over the U.S. electric vehicle (EV) market in impressive fashion. It went from an intriguing Roadster story to a full-fledged automotive company that’s generated bottom-line income — a rarity for pure-play EV companies these days. While many believed Tesla’s dominance to be durable and long-lasting, General Motors‘ (NYSE: GM) Chevrolet brand is already rocking the boat. And keep your eye on the company’s luxury line of EVs, it might sneak up on you.
Competitors that have been checking the rearview mirror may have seen Chevrolet coming, but most of us probably didn’t. Chevrolet is now the second best-selling EV brand in the U.S., overtaking Ford and gaining on the top spot that Tesla has held closely for years.
Amid all the doom and gloom surrounding tariffs, potential disruptions in trade and distribution networks, and uncertainty for long-term planning, Chevrolet has done nothing but shine for General Motors. May was Chevrolet’s second-best month ever for EV sales.