Recently our friend Jakub has posted a blog post about a promising EV company called Rivian. Back in September Volkswagen announced that they want to produce 100,000 electric cars per year by 2020. They want to have produced 1,000,000 electric cars by 2025 and want them to be both affordable and able to travel long distances. The whole Volkswagen AG, so Volkswagen, Audi, Porsche, SEAT, Skoda, Bugatti, Bentley, Lamborghini and of course Volkswagen itself, is planning to spend 50 billion US dollars on EV’s by 2023.
Now Daimler, mainly known as Mercedes-Benz, smart and trucks manufacturer, wants to spend almost 23 billion dollars on lithium-ion batteries alone. The whole group is planning to release 130 fully electric and hybrid models of cars, vans, trucks and busses by 2022. They also plan to spend 1.2$ billion on electric charging company, preparing the environment for a new wave of electric vehicles.
BMW has recently spent over 200 million dollars on development of new i4 model alone and they want to have 12 fully electric models and 13 hybrid models available by 2025.
It is very obvious that car manufacturers see a future in electric vehicles, as they invest their money and time into developing new models and making many promises about the number of models available in the future. In China in November car sales have dropped by 14%, but EV’s sales have risen by 68% in comparison to the same time last year.
Tesla, the best known fully electric cars manufacturer, is doing better and better. In the 3rd quarter of this year, it’s model 3 is the 19th best selling car model in the USA. They have delivered a little over 56,000 cars in this period. It is safe to say that Tesla has left its niche at this point. Additionally they were the 4th biggest luxury car manufacturer in the 3rd quarter of 2018 in USA. Average Tesla was sold for almost 68,000 $. Thats 12 thousand dollars more Mercedes, that is usually the first manufacturer that comes to your mind, when it comes to luxury cars. There are 400,000 people who have paid to reserve the rights to buy model 3. Teslas success is remarkable. They had 0.5% of the market share a year ago, and now they have over 2.1 %.
Electric Vehicles market has a huge potential. As we can see people are willing to spend money on electric vehicles. European manufacturers are still recovering after the diesel-gate and electric vehicles seem like a perfect opportunity to gain in the eyes of customers and it seems like a perfect investment. They also bring a new design language to cars and that is probably more appealing to most people.
Everything is pointing towards electric cars expansion. Manufacturers and customers are putting more and more money into them, market for them is growing, batteries are cheaper than ever to manufacture, their capacity is getting bigger, their life is longer and EV’s are more reliable. I think we are going to see more of them on the roads. I think this is very exciting for everyone, because cities are going to be quieter, hopefully cleaner and many people will be able to experience something completely new. I also wonder if there are going to be any regulations made in the future, when the electric cars will get really popular, because their engines offer almost instant delivery of torque and power, that translates to very quick accelerations. I myself think that most of the speed limits are non-sense ( at least on the roads I am usually driving on ), but there are people that think otherwise. We still don’t know if that is going to change our safety on roads, but we have to keep in minds that EV’s usually come with advanced road safety systems, or even autopilots, so they are literally stuffed with sensors and on board computers.
The future is just really exciting and I am awaiting the further development.