“The Mustang Mach-E is capturing the interest of Tesla shoppers. We need to acknowledge Tesla is going to lose market share. It had 100% and it can’t stay at 100% as competitors come onto the market. And in February, Ford was its biggest competitor.” Krebs added.

Stellantis Globalizes Car Industry

Musk was also referring to the fact that other competitors in the American car-maker marketplace were unable to make the transition to electric and smart cars. 

General Motors and Chrysler along with Dodge and Jeep are now under the umbrella of an Amsterdam-based global conglomeration of major auto companies. Stellantis includes 10 international automobile brands.

The deal minimizes costs and competition between the brand entities. This was finalized in January, making Stellantis the world’s fourth-largest carmaker in terms of global vehicle sales. And the group plans to have 39 electric vehicles available by the end of 2021.