Major dominating technology companies in 2020 include those leveraging electric cars and new batteries. The high market demand of innovative batteries, based on storing solar energy power and the focus on and the fast momentum in cutting-edge battery development is being driven in most part by factors such as the desire of self-sufficiency, the lower buyback rates from energy companies, and heightened environmental concerns.
Tesla (TSLA) was arguably the pioneer in such battery and electric car technologies. This pioneering steps have translated in a fast growth of the company and a commanding presence on the markets. In fact, within 5 years, Tesla (TSLA) shares have risen by close to 650%, with most of the growth (500%) happening in just the last 12 months. However, Tesla is about to face a stiff competition in the years to come, even starting in the upcoming few months.