Although the electric vehicle (EV) industry is often portrayed as a tight race between start-ups and legacy automakers jockeying for market share, the reality is that it is a two-horse race between Tesla (NASDAQ: TSLA) and its Chinese competitor, BYD (OTC: BYDDY). 

Today, Tesla is the most valuable automaker in the world with a valuation of more than $670 billion. Meanwhile, up-and-coming BYD is ranked third, worth more than $90 billion.

Clearly, there's quite a large difference separating the two companies. But as BYD applies the same strategies that helped it become the leading automaker in China's highly competitive market, it's possible that by 2025 the company will narrow the gap and perhaps even dethrone Tesla.

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Source Fool.com