If you’ve been watching Tesla stock, you know that its share price has more than doubled over the past year. Its steep valuation, with its shares trading at more than 130 times forward earnings, suggests investors aren’t just betting on Tesla selling more electric vehicles; they’re betting on a future where it dominates robotaxis, self-driving software, energy storage and even humanoid robotics — all at once. 

Much of this optimism is rooted in Tesla’s undeniable edge in EVs and related software. But is there any other way to invest in the future of EVs and robotics without paying Tesla’s lofty premium?

One contender is Hyundai, a company that operates at the intersection of many of the same industries — EVs, self-driving technology, energy storage and robotics. Yet, the market tells a different story. Shares of the South Korean carmaker have slumped in the past year and trade at a fraction of Tesla’s valuation at just 4 times forward earnings.