Most longtime readers know I am a big fan of EVs. My wife and I currently own a Tesla (Nasdaq: TSLA) Model X.

Prior to that, we drove a Nissan LEAF for three years. Both were (and are) trouble-free vehicles.

Last year, Tesla dominated EV sales in the U.S. and Europe. Many other EV manufacturers announced electric models, but none delivered.

What a difference a year makes! Now, new EV models are being announced nearly every week.

Two weeks ago, with great fanfare, Porsche introduced its first EV, the 2020 Taycan.

It’s being billed as the Tesla Model S “killer.”

The Taycan is a beautiful car and has classic Porsche lines. But it’s no threat to the Model S.

First and foremost, Taycan’s range is only 256 miles. The Model S goes 370 miles on a full charge.

The prices are quite different as well. The Taycan “Turbo” (I still don’t understand the logic of an EV with “Turbo” in the name) starts at $150,900. The Turbo S comes in at a salty $185,000.

Try as I might, I could not configure even a fully customized Tesla Model S that gave me a price anywhere near the Taycan base price. You can purchase a fully decked-out Model S for $114,490.

Currently, Tesla’s Model 3 has the best price performance of any EV available today. And for good reason.

The base model with rear-wheel drive and no autopilot can be had for just $40,990.

Not to mention, all the above prices are before any federal EV tax credits. Those range from $1,875 to $7,500.

So the jury is out as to whether the Taycan will eat into Tesla’s sales.

But I don’t think Tesla is in any danger. It’s still my favorite pure EV play.

If you’re interested in getting your feet wet, there are several other ways to play the EV space, such as charger and battery manufacturers.

Personally, I like pick-and-shovel plays like lithium, cobalt, copper and nickel miners. They’re great long-term plays on the explosive growth coming in the EV sector.

But really, you can’t go wrong. EVs are here to stay.

Good investing,

Dave