The market isn't ready for prime time, says a fund manager, naming a "phenomenal" alternative

Fund manager Freddie Lait says "avoid it all" when it comes to EVs. Lait names a favorite alternative to Tesla as a "phenomenal" alternative to the electric car market. The fund manager says Tesla is a good alternative to other EV stocks like Tesla.

Tesla electric vehicles sales in California reportedly fell by 10% in the fourth quarter of 2023. The state has pledged to ban gas-powered cars by 2035. California also pledged to make electric cars more affordable by 2030. Tesla electric cars are expected to be banned in the state by the end of the decade.

Tesla sharesman testifies that the market isn't ready for prime time. He rented an electric car for 27 minutes before a speaking engagement in front of 700 people, including 500 CEOs. He says he's a Tesla shareholder, but after renting an EV, he knows the market is not ready to be ready to play.

Tesla reported record quarterly sales in the final three months of last year. But it wasn’t enough for it to hang onto its title as the world’s largest maker of electric vehicles. Tesla's record sales were enough to hold onto its EV sale title.