Saturday, May 21, 2022

These 9 Electric Cars Are Set to Rival Tesla

A slew of battery-powered electric vehicles (EVs) have been unveiled recently by venerable luxury automakers. These new cars range in scale and price from small, affordable hatchbacks to seven-figure supercars. But together they signal the incipient mainstreaming of the electric car. They also signal competition for Tesla, which has had the luxury EV market pretty much to itself for the past decade with its Roadster convertible, Model S and Model 3 sedans, and Model X sport utility vehicle.

“The fact that a spate of new luxury EVs are hitting the market at virtually the same time isn’t much of a surprise when you think about the usual development times for new vehicles,” says Jeremy Acevedo, manager of industry analysis for automotive research company Edmunds, in reference to the seven-to-ten-year process of creating a car. “Once Tesla made the case that there was a decent market for a beautifully designed electric vehicle, it made sense for other automakers to follow suit.”

Many of these vehicles are SUVs. This is no coincidence: It reflects an overall shift among consumers in general and luxury consumers in particular. Where traditional cars represented the majority of luxury vehicle sales as recently as four years ago, SUVs now compose nearly two thirds of that market. Occupying this extremely popular segment, this group of EVs thus has the real potential to lure in mainstream buyers.

“After years of pushing electric wedge-shaped econo-boxes, automakers are finally offering up something people want to buy: crossovers with striking designs and the latest technology,” says Acevedo. “If these new vehicles prove successful, it could be the final piece of validation automakers need to confirm that EVs really do represent the future of the automobile.”

Here’s a brief description of some of the new vehicles that will be electrifying dealerships and consumers in the next few years.


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