Will Tesla remain dominant for years to come?
Auto industry titans like Volkswagen, Ford, and General Motors are betting big on a future dominated by battery-powered cars, and they're plunging billions into efforts to electrify. Analysts at UBS said in March that Volkswagen will sell more electric models than Tesla in 2025, but Tesla will turn a bigger profit on the cars it sells.
Can CEO Peter Rawlinson and Lucid Motors challenge Tesla's dominance?
Lucid Motors is one of many companies trying to make a name for themselves within the trying world of electric vehicles. Sources told Insider that Rawlinson's primary motivation was beating Tesla and one-upping his old boss. He said he wanted to build the "best car in the world."
Chinese electric car makers are stepping up their efforts to dethrone Tesla
XPeng and Nio are two of the Chinese manufacturers with their sight on becoming major manufacturers in electric cars. XPeng also wants to build flying cars and robots. Its founder, He Xiaopeng, predicts that all automakers will also become robotics companies, a process that he says could take 10 to 30 years. Xpeng recently beat Tesla in a recent JD Power survey of electric cars on in-car technologies.
Nio has in mind to launch three models by 2022 that include its first premium sedan, the ET 7, and a cheaper variant. “We would like to launch a product that can be competitively priced compared to Tesla products, but that can offer much better products and services,” they declare from the company.
Rivian wants to produce electric cars for a new demographic
Apparently there's a portion of the market that wants an electric car and is specifically turned off by Tesla's lineup, its CEO, and in some cases, both.
Rivian, the US automaker focused on electric trucks and SUVs that's expected to go public later this year. They say a key part of Rivian's appeal is how different it is from Tesla.
Many Rivian enthusiasts said they are not fans of Elon Musk, especially his tweets, and found themselves identifying more with Rivian's low-profile CEO, RJ Scaringe.
