The electric car is the new stimulus for luxury brands. WSJ writes that Old guard auto makers are mounting a challenge to Tesla with their own premium EVs. People who buy luxury vehicles have one thing in common - they don’t want to be left behind.
With Audi, Porsche, Jaguar introducing their all new EVs this year they’re finally giving Tesla competition. And it doesn’t end there. We’re beginning the second phase of the EV proliferation revolution, so get ready. Take a load of these stats:
By 2022 all car brands globally will have invested $105 billion to have 75 new EVs (BEVs and PHEVS) on the market. By 2025, 500 new EVs, yes that’s 500 new EVs will be on sale globally, and that’s just 1:5 cars that’ll be sold. EVs are rapidly taking hold and it seems nothing can stop them now, not even oil sands thinking.
It’s just a footprint, but the next time an EV or AV denier tells you electric cars won’t take hold, tell them there was a time 100 years ago 38% of the cars on the planet were electric, and very soon that stat will be the same, it’s a matter of time! The 130 year experiment of Karl Benz’ gasoline car is coming to an end! Welcome folks, to the dawn of a new era!
Tesla should beware now as a wave of luxury EVs will hoard the market. What is your projection of EV market competition for 2019-2020?
Also check out this previous coverage from Torque News, titled The Best Selling EVs of 2017 and Electric Vehicle Sales Projections of 2019 and the 2018 EV winners and losers by Torque News senior reporter John Goreham.