May 3, 2022 · less than 3 min read
While Tesla is out in front, the competition is hotting up for a spot on the podium.
On your marks…
When it comes to electric vehicles, we all know that Tesla claims top spot. But as their demand continues to rise, the competition is heating up. Whether it’s a drag race sprint or endurance slog, the Detroit three – GM, Ford, and Chrysler – all have their foot on the pedal as they gun for the silver medal.
GM plans to invest $35 billion into electric and autonomous vehicles by 2025, while Ford is currently on track to spend $50 billion internationally by ’26. Chrysler (aka Stellanis), meanwhile, is right up there too; globally it plans to invest around $32.5 billion, also by 2025.
The impact of Elon
Tesla’s pioneering tech in the electric vehicle space has kickstarted a huge wave of demand, and it looks like manufacturers everywhere are more than happy to oblige. With carbon neutrality on the lips of many, there’s a double-edged sword in play – meeting huge demand, while reducing the footprint of your vehicles.
And perhaps competition is good. Tesla models are far from perfect, but with some serious competition bringing up the rear, we may see further advancements in the electric vehicle space – and potentially lower prices, too.
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