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Assignment:
On July 1, 2020, Tesla officially surpassed Toyota to become the world's most valuable car company with a $208 billion valuation. It has more than quadrupled since then. Tesla's market cap is currently $950.54 billion (as of Sep 16, 2022), versus $228.84 billion for Toyota. In comparison with Tesla, the market cap of General Motors is $58.28 billion and Ford is $59.18 billion (Google Finance). So, Tesla is more than 4 times as big as Toyota, and more than 8 times as big as Ford and GM combined. Meanwhile, competition in the electric vehicle market has rapidly increased since 2021.
Quesstion 1.) With competition in the EV industry revving up, what should Tesla do strategically to maintain its dominance in this market in the years to come?
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