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for the next Tesla (NASDAQ: TSLA). It's no wonder why. Since 2010, Tesla shares have increased in value by more than 34,000%.Two of the most popular electric vehicle (EV) stocks today are Rivian Automotive (NASDAQ: RIVN) and Lucid Group (NASDAQ: LCID). Both have similarities to Tesla, but only one stock looks like a clear winner today. Let's determine which one.Image source: Getty Images.But first let's look at the industry leader. How did Tesla become one of the greatest investments of all time? There are two major pillars supporting the company's valuation today.The first is Tesla's dominant position in the EV space. Last year, no company in the world produced more battery-powered electric vehicles than Tesla. How did it get this way? Just take a look at Tesla's production statistics. More than 90% of Tesla's production stemmed from just two models: The Model 3 and the Model Y.It's no coincidence that both of these models have starting prices under $50,000. Nearly 70% of American car buyers are looking to spend less than $50,000 on their next vehicle purchase. Getting vehicles to market under this price point is critical, though most EV producers have struggled to achieve this goal.For now, neither Rivian nor Lucid has any affordable models for sale. But that could change as early as next year when Rivian starts production of three new vehicles, all of which should have starting prices under $50,000. Lucid has teased new affordable models for years, but actual deliveries likely won't begin until 2027 at the earliest.The second pillar underpinning Tesla's gargantuan valuation is its exposure to massive growth areas like robotaxis. Some experts believe this could be a $5 trillion to $10 trillion opportunity. One Wall Street analyst even thinks that Tesla's valuation will soar to $2 trillion by the end of 2026 based on robotaxi growth alone.Tesla shares trade at 15.8 times sales despite declining revenue. Rivian, meanwhile, trades at just 3.7 times sales, while Lucid shares trade at roughly 7.6 times sales. Why such a premium for Tesla stock? The likely reason is Tesla's ability to pursue huge growth opportunities like robotaxis, even if that growth remains hypothetical today.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,661.21 +17.51 (+0.26%)Dow 3046,316.07 +68.78 (+0.15%)Nasdaq22,591.15 +107.09 (+0.48%)Russell 20002,435.25 +0.93 (+0.04%)VIX16.12 +0.83 (+5.43%)Gold3,859.10 +3.90 (+0.10%)PortfolioSign in to access your portfolioSign inTop gainersWOLF Wolfspeed, Inc. 22.10 +20.89 (+1,726.45%)MRUS Merus N.V. 93.67 +24.78 (+35.97%)GRAL GRAIL, Inc. 58.77 +8.91 (+17.87%)SNDK Sandisk Corporation 113.50 +16.38 (+16.87%)ETSY Etsy, Inc. 74.34 +10.16 (+15.83%)Top losersMENS Jyong Biotech Ltd. 50.00 -9.74 (-16.30%)CART Maplebear Inc. 37.92 -4.40 (-10.40%)FORD Forward Industries, Inc. 26.51 -2.72 (-9.31%)PGY Pagaya Technologies Ltd. 31.76 -2.88 (-8.31%)UPST Upstart Holdings, Inc. 52.74 -4.60 (-8.02%)Most activeTLRY Tilray Brands, Inc. 1.8500 +0.7000 (+60.87%)SNAP Snap Inc. 8.40 +0.13 (+1.57%)NVDA NVIDIA Corporation 181.85 +3.66 (+2.05%)OPEN Opendoor Technologies Inc. 8.20 -0.61 (-6.92%)INTC Intel Corporation 34.48 -1.02 (-2.87%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersWOLF Wolfspeed, Inc. 22.10 +20.89 (+1,726.45%)TLRY Tilray Brands, Inc. 1.8500 +0.7000 (+60.87%)HOOD Robinhood Markets, Inc. 136.72 +14.94 (+12.27%)PYPL PayPal Holdings, Inc. 69.68 +2.38 (+3.54%)UPST Upstart Holdings, Inc. 52.74 -4.60 (-8.02%)Top economic events