$Tesla (TSLA.US)$
In the third quarter of 2020, Tesla once again released a financial report that exceeded market expectations, causing the stock price to soar. For long-term investors in Tesla, the performance of Tesla in the third quarter is indeed exciting and has also allowed many value investors to see Tesla's dominant competitive advantage in the electric car industry. However, how long can Tesla's current competitive advantage last? This may be a question on the minds of many value investors, and I personally believe it can last at least five years.
My reasons are as follows:
1.特斯拉是目前电动汽车行业里唯一一家达到规模经济的汽车生产商；
2.随着传统汽车生产商巨头们纷纷入局，未来电动汽车行业的马太效应将加剧，行业洗牌在所难免；
3.当电动汽车基本取代市场上的燃油汽车后，行业竞争将驶入无人驾驶赛道，而特斯拉在无人驾驶领域拥有巨大的领先优势；
那么为什么至少能保持5年？因为电动汽车基本取代燃油汽车至少还需要5-10年时间，而在这个取代的过程中，特斯拉巨大的成本优势几乎是无法撼动的。
We all know that the biggest cost in the manufacturing cost of electric cars comes from the battery, almost one-third of the total vehicle cost, and if you want to reduce the cost of the battery, you need to either use new battery technology or reduce the cost per unit of the battery through economies of scale. Tesla not only has the latest producible battery technology...