While legacy carmakers are adding more hybrids to their lineups to increase sales, the carmakers that have built their business models on the sale of electric vehicles (EVs) are focusing more than ever on more affordable products.
As EVs enter the mass market and slowly leave the early adopter stage, it'll become increasingly more difficult for carmakers to convince EV skeptics who are still not sure if an EV is the right fit for their needs. One of the main arguments from consumers for not buying an electric vehicle at the moment, is cost.
But there's been a trend lately among carmakers that currently only sell electric vehicles. Almost all of them, including Tesla, Rivian, VinFast, and even Lucid - a carmaker traditionally associated with posh luxury sedans - plan to add a more affordable model to their lineup. As early as next year, we could be witnessing a significant burst in cheaper, more attainable EVs that could seriously hurt some legacy carmakers.
Read Article