The fact TSLA is valued more then all the auto manufactures combined is absurd. You're naive to think big auto is just going to sit on the sidelines. Big auto has the infrastructure and production lines to mass produce fully electric vehicles for a fraction of the cost of a TSLA, something TSLA will never be able do. Ford is already leading the charge with the F-150 Lightning and converting old factories into fully electric vehicle production plants. TSLA is just as overhyped as Elon Musk.
One thing with TESLA that makes them seem like they are really ahead of other motor companies is their innovation. They are always coming up with new ideas on how to do things and they keep pushing. And apart from that, they also have a really huge fan base that is supporting them, through the influence of Elon Musk.
But, that doesn’t mean that other motor companies cannot be able to compete with them, they can as well do that if they want to, but they are going to have to do better than that and it takes hard work . Once other companies starts releasing their own and also coming up with their own innovations, then the competition is going to be leveled. It’s all with time. The company you least expect can even be the one that will pop up tomorrow.