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Tesla dominates the electric vehicle market.

This is especially true in the U.S. where it enjoys an 80-percent slice of the electric vehicle pie at the moment thanks to its popular Model 3. According to one Morgan Stanley analyst, though, this commanding position is at risk because of new competition. The company pointed to as being a particular threat? Rivian.

hat analyst is Adam Jonas, who has been with the firm since 1996 and who focuses on the automotive sector. He was once extremely bullish on the California automaker but has in recent times lowered his share price targets significantly — from $376 last May to $283 as of last week. Tesla is trading at $316.08, up $10.28 (3.36%) at the time of this writing.

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Analyst Predicts Tesla's Biggest Challenger Will Be Upstart Rivian, NOT The Establishment

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