Toyota lost its title as the most valuable car company to Tesla in 2020. Tesla, founded in 2003, offers 7 electric vehicles, with the Model 3 being the most popular. New EVs like Chevy Bolt, Hyundai Ioniq 5, Kia EV9, and Lucid Air are challenging Tesla's dominance. The competition in the electric car market is intensifying, with factors like affordability and performance key for consumers. Ultimately, the choice between Tesla and its competitors will depend on individual preferences and budget considerations in the expanding EV industry.