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There are plenty of ICE vehicle manufacturers both domestic and foreign, therefore there is no need. The EV market is extremely small and smaller boutique makers can pop up and fill that need, but then there are the large automakers to think about. EV's will have to be mandated by government or ICE vehicles artificially restricted by government for their sales to grow.
Not necessarily true.
Back in 2011 when Tesla and the Leaf came out, they were the only two EVs on the market, and teh Tesla was only a high end priced car. So by necessity the market was limited. By 2014, the Tesla was out and the Leaf was still there, but there were a number of California only compliance cars. The market had more choice in California, but the choice everywhere else was limited or nonexistent. Which meant market share was self limited, not by lack of demand, but lack of availability in most markets. in 2017, the Model 3 came out as did the Bolt and Kona (which Hyundai limited to CARB states), which expanded the market nationwide and increased market share, with those manufacturers selling all they made. But still, the fact that there were only 3-5 models out of a hundred kind of meant that even if they were popular, they could only take up 3-5% of the market. Simple math. Fast forward to 2022 and now there are a dozen EVs coming to market. Still less than the hundred or so gas models available, but the math says they will hit 12-15% of the market. Every time a manufacturer adds an EV, EVs by math take up a larger percentage of the new car market. Simply making them available makes the sales grow.
This year, the sales for all cars, not just EVs, dropped off a bit due to the supply chain shortages, so it really isn't representative of demand. But as manufacturing comes back on line, the number of EVs is increased, making for larger market share, especially with good EV choices like the Ioniq 5 and EV6 joining the Model Y and Mach E.
Rivian just produced its first truck, the amazing R1T, and is starting production on its Amazon delivery vans as well. Fisker looks very enticing, and is priced at $39K for their entry level vehicle, due to debut next year.
Rivian just produced its first truck, the amazing R1T, and is starting production on its Amazon delivery vans as well. Fisker looks very enticing, and is priced at $39K for their entry level vehicle, due to debut next year.
The company didn't get purchased--just the plant. It would seem like a pretty decent deal versus just going bankrupt and not making any vehicles.
Sorry for the boring answer, but I think it's very hard to say - all those companies are still in their development phase, and the ones I know best - Canoo and Rivian, are taking some risks with their product designs. I dunno!
No guarantees, but both Lucid and Rivian have come out with great first products and are still among the early companies to offer "modern" EVs of the post-Tesla era - the better to capture mind-share, market-share and investor dollars as a newbie. Lucid has a current market cap of $42B and Rivian is almost identically valued by the market at $41B. While anything can happen, I am optimistic about both these companies making it. After that, it's more of a roll of the dice at this point, IMO.
No guarantees, but both Lucid and Rivian have come out with great first products and are still among the early companies to offer "modern" EVs of the post-Tesla era - the better to capture mind-share, market-share and investor dollars as a newbie. Lucid has a current market cap of $42B and Rivian is almost identically valued by the market at $41B. While anything can happen, I am optimistic about both these companies making it. After that, it's more of a roll of the dice at this point, IMO.
Now just a question of figuring out mass production and how to build them.
Rivan is down from $146B to $42B on those difficulties. I wouldn't read a huge amount losing over $100B in a few months myself. Lucid hasn't lost as much paper valuation but likewise lost over half its value. I mean, for $100B+ valuations, the inability to mass produce cars at a price point is an issue but not necessarily crucial that either be able to. There's a market for niche cars for wealthy people... just probably not enough of one to justify the valuations.
Wait and see basically. While Lucid hasn't followed Rivian's suit of bait and switch for pre-orders, they've already come out and said they're not sure if they can build cars for 140k and might need to raise the price. For that price it's basically Bentley to me. They're cool and all but not really relevant to me what Bentley or Rolls Royce or Lucid are doing with the six figure cars.
Now just a question of figuring out mass production and how to build them.
Rivan is down from $146B to $42B on those difficulties. I wouldn't read a huge amount losing over $100B in a few months myself. Lucid hasn't lost as much paper valuation but likewise lost over half its value. I mean, for $100B+ valuations, the inability to mass produce cars at a price point is an issue but not necessarily crucial that either be able to. There's a market for niche cars for wealthy people... just probably not enough of one to justify the valuations.
Wait and see basically. While Lucid hasn't followed Rivian's suit of bait and switch for pre-orders, they've already come out and said they're not sure if they can build cars for 140k and might need to raise the price. For that price it's basically Bentley to me. They're cool and all but not really relevant to me what Bentley or Rolls Royce or Lucid are doing with the six figure cars.
Both Lucid and Rivian have been having issues with their new production lines and have revised production output forecasts downward significantly as a result, which is certainly hurting their stocks. Tesla also had a rough first year with their Model 3 production line, but they did get it humming in time. Hope these other companies can streamline bottlenecks and debug any quality issues.
Both Lucid and Rivian have been having issues with their new production lines and have revised production output forecasts downward significantly as a result, which is certainly hurting their stocks. Tesla also had a rough first year with their Model 3 production line, but they did get it humming in time. Hope these other companies can streamline bottlenecks and debug any quality issues.
Yah, not easy starting any new company particularly when it is as difficult as making cars. Tesla had the advantage that they'd also already had a decade of experience building cars when on the Model 3.
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