Electric vehicle sales in the US reached a new milestone in the third quarter of 2025. Beyond that, the future is uncertain for almost every player in this market, except one. With federal incentives for EVs falling away, the US market must survive on its own merits. Who wins and who survives will depend largely on who has the scale and sales volume to make their businesses profitable. Tesla has already reached scale and is comfortably profitable. Most other operators in the US EV market aren't