Have you considered how small the EV section actually is? At present, lower than one in ten new automobiles offered within the U.S. are BEVs. Now begin to consider what sort of purchaser every EV attracts—you’ve got acquired high-ranking exects choosing up Porsches, glamping outdoorsy people taking a look at Rivian after which there’s anybody not taking a look at a Tesla scoping out GM and VW. Niches exist, which is precisely what Rivian’s CEO is banking on being what separates its prospects from others and permits the model to coexist.
Welcome again to Vital Supplies, your every day roundup for all issues EV and automotive tech. At present, we’re chatting about Rivian and Scout’s budding bromance, Lucid scoffing on the EV tax credit score kerfuffle, plus, Lotus scrapping its EV-only plan in favor of EREVs. Let’s leap in
30%: Room For Two: Rivian And Scout Can Coexist
Picture by: InsideEVs
Rivian CEO RJ Scaringe has been enjoying it surprisingly cool as Volkswagen brings its new rough-and-tough model as much as bat. See, Scout is absolutely the primary true competitor for Rivian—positive, different EVs exist, however Scout is the primary model to convey bundle sturdy, rugged battery energy within the form of a truck and mix the life-style part together with it.
The specter of competitors hasn’t phased Scaringe, although. In actual fact, in a current media roundtable, the CEO even nodded to the notion of the 2 manufacturers coexisting with out downside. Why, you would possibly ask? Nicely, in accordance with Electrek, Scaringe says there are “lower than 5” compelling EVs within the sub-$50,000 value vary, which ought to make differentiating itself from the competitors by merely making a greater product surprisingly simple.
You’ll have seen that Rivian and Scout have been getting awfully cozy recently. You’ll be able to thank Rivian’s partnership with Volkswagen for that, as this transfer has enabled Scout to make the most of the brand new Rivian-sourced tech—specifically the zonal structure—which is on the market as a part of the settlement. Whereas nice information for all concerned, the tech sharing has blurred the road between manufacturers a bit, which signifies that we must always as soon as once more shout this from the rooftops: Rivian and Scout will not be the identical.
Not the identical model, not the identical chassis, not even the identical underpinnings outdoors of the zonal structure and a few software program. Hell, regardless of some overlap, the 2 manufacturers aren’t even focusing on similar audience. Rivian is advertising and marketing to EV fans with lively outside life, whereas Scout is banking on nostalgia to promote an environment friendly blue-collar work truck. It is like Patagonia jacket versus Carhartt overalls—and that is why they will coexist.
Scaringe’s optimism is not with out warrant. The EV section nonetheless makes up fewer than 10% of America’s new automobile registrations, which makes it nonetheless fairly small. And with the specter of a repealed EV tax credit score consuming into adoption charges, that leaves loads of time for manufacturers to begin filling up the market with their very own automobiles, vehicles, and different battery-powered individuals movers. In case you forgot, the Ford F-150 Lightning, Chevy Silverado EV, and Tesla Cybertruck all exist, too. Once more, every of those has some overlap with Rivian and Scout, however nonetheless cater to a selected buyer.
So, not less than for now, the section appears harmonious. Each manufacturers reside in their very own corners and are attracting their very own prospects, blissfully conscious that the opposite exists and unfazed by the opposite’s existence. However will the pleasant competitors final if both model begins to develop and provide extra “normie” variations of their automobiles for the mass market? Solely time will inform.
60%: Lucid Would not Care About The EV Tax Credit score Going Away
Picture by: U.S. Armor Group
It looks like the entire auto {industry} is holding its breath over the way forward for the $7,500 EV tax credit score—everybody apart from Lucid, that’s. Lucid’s perspective is apathetic at greatest, with CEO Peter Rawlinson throwing a giant fats shrug on the unknown moderately than sweating whether or not or not Lucid’s future hinges on the incoming Trump administration taking away the EV tax credit score.
“Lucid, amongst all of the EV makers, is absolutely probably the most immune from that,” mentioned Rawlinson in an interview with Bloomberg, referencing the doable revocation of the $7,500 EV tax credit score.
See, Lucid is in a singular place: it would not want the credit score. In actual fact, the one automobile that it sells right now—the $69,900-and-up Lucid Air—would not even qualify for it as a result of the most affordable mannequin begins above the $55,000 threshold for electrical sedans. Lucid hasn’t mentioned whether or not or not its upcoming Gravity mannequin (which technically begins inside the $80,000 cut-off restrict for SUVs) qualifies for the tax credit score, however judging by Rawlinson’s remark, it would not appear to matter:
Rawlinson believes that the tech in Lucid’s automobile, soon-to-be automobiles, speaks for itself and can assist information the automaker into the following section of its Gravity-fed progress. The CEO feels that the EV startup has even surpassed Tesla in industry-leading effectivity, so having Elon Musk on the ear of the president-elect for favorable therapy appears to place little or no concern in Lucid’s enterprise:
“We’ve actually taken the mantle of know-how management from Tesla proper now, and this isn’t actually sufficiently acknowledged,” mentioned Rawlinson. “So, I feel we’re in a really sturdy place to climate any such storm.”
These are daring phrases for a automotive firm that’s projected to promote simply half of a p.c (sure, 0.5%) of the variety of automobiles in comparison with the corporate it claims to have stolen the tech crown from. Rawlinson appears to be satisfied that folks shall be lining as much as purchase a Lucid as a result of it is a Lucid, not as a result of it occurs to be the most effective deal on the market due to a meager $7,500 low cost.
However then once more, if Rawlinson is correct, it might lastly be Lucid’s time to shine amongst the luxurious nameplates. The automaker nonetheless wants to beat its at present unprofitable carmaking operation earlier than all of its investor funds dry up (once more), which is what it seems to be relying on the Gravity to assist with. However the tax credit score? Not a lot.
90%: Lotus Hops On EREV Prepare, Ditches EV-Solely Plan
Lotus has at all times been the model that cares extra about cornering than cupholders. The driving force-centric method was Lotus’ area of interest, however with years of bleak gross sales amid different premium manufacturers, the identical approach would additionally virtually be its coup de grace. Fortunately, Chinese language automaker Geely prolonged a lifeline—one that will rework the model into an all-electric life-style model, or so we thought.
The British racing model beforehand dedicated to electrifying its lineup by 2028, and it appeared on monitor to do precisely that because it launched its Eletre SUV. However now, Lotus appears to be taking the identical street as different manufacturers and ripping up plans for an EV-only future. However moderately than decide to a brand new ICE powertrain, Lotus is as a substitute trying to the spectrum of hybridization in Geely’s elements bins. Now, it might quickly provide Plug-In Hybrids (PHEV) and Prolonged Vary EVs (EREV) choices.
“At Lotus, we’ve got at all times chosen the most effective energy know-how obtainable, whether or not it’s pure gasoline, pure electrical, hybrid or range-extended [EV],” mentioned Lotus CEO Feng Qingfeng in an interview with the Wall Road Journal, in accordance with AutoCar.
Feng mentioned that Lotus beforehand rejected plug-in hybrids as a result of they had been a compromise in comparison with pure EVs. Whereas Lotus seems to have rethought this for future fashions, the model is not utterly offered on solely EVs or solely PHEVs. As an alternative, it should additionally look to EREVs—that’s, an EV with a combustion-powered generator to cost the battery like Scout’s Harvester and Ram’s Ramcharger—to finish its lineup.
It is laborious to not ignore that this goes in opposition to nearly every little thing Lotus stood for in its early racing days. I can not assist however consider that line famously uttered by founder Colin Chapman: “simplify, then add lightness.” Perhaps it is the purist in me, however this feels extra like “complicate, then add compromise. However, then once more, the purist-driven financials clearly aren’t on Lotus’ facet.
So scoff at this path if you happen to should, however for Lotus, the transfer right here is much less about custom and extra about staying afloat in a market the place Chinese language smartphone makers can construct 1,548-horsepower EVs that destroy Nurburgring data for breakfast. Keep tuned to see how this chapter for Lotus performs out in the long term.
100%: What Was The Final Fuel Automotive You Cross-Shopped To An EV?
Picture by: Porsche
New automotive consumers are shortly discovering themselves with choices that by no means existed earlier than. EVs are beginning to penetrate the market, and so they provide fairly darn aggressive in-class efficiency in comparison with gas-powered automobiles. Assume: extra seating space, extra cargo area, higher acceleration. It is a compelling argument if you happen to’re not apprehensive in regards to the barely elevated value or vary anxiousness.
I nonetheless discover myself window-shopping fuel automobiles and EVs consistently (impractically, if I am being actual with myself). And with restricted choices on the market, it is simple to begin crossing segments and evaluating fashions that are not even out but. For instance, the GR Corolla versus the upcoming Rivian R3X—one in all them will not be on the streets for years and the opposite will certainly bear a refresh or be discontinued by the point it launches.
Extra lifelike are the luxurious and truck segments. For instance, The Porsche Taycan versus the BMW 5-series, or the F-150 versus F-150 Lightning. A extra sensible instance can be the Chevy Blazer EV and the Mazda CX-50.
There are many choices right here, and I need to know which fuel automotive you final cross-shopped with an EV. Let me know within the feedback.
