Have you considered how small the EV section actually is? At the moment, 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 have acquired high-ranking exects choosing up Porsches, glamping outdoorsy folks Rivian after which there’s anybody not a Tesla scoping out GM and VW. Niches exist, which is strictly 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 each day roundup for all issues EV and automotive tech. At the moment, 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 bounce in
30%: Room For Two: Rivian And Scout Can Coexist
Picture by: InsideEVs
Rivian CEO RJ Scaringe has been taking part in it surprisingly cool as Volkswagen brings its new rough-and-tough model as much as bat. See, Scout is actually the primary true competitor for Rivian—positive, different EVs exist, however Scout is the primary model to carry package deal robust, rugged battery energy within the form of a truck and mix the life-style element together with it.
The specter of competitors hasn’t phased Scaringe, although. Actually, in a latest media roundtable, the CEO even nodded to the notion of the 2 manufacturers coexisting with out drawback. Why, you would possibly ask? Properly, in response to Electrek, Scaringe says there are “lower than 5” compelling EVs within the sub-$50,000 worth vary, which ought to make differentiating itself from the competitors by merely making a greater product surprisingly straightforward.
You’ll have seen that Rivian and Scout have been getting awfully cozy these days. You possibly can thank Rivian’s partnership with Volkswagen for that, as this transfer has enabled Scout to reap the benefits of the brand new Rivian-sourced tech—particularly 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 implies that we should 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 exterior of the zonal structure and a few software program. Hell, regardless of some overlap, the 2 manufacturers aren’t even concentrating on similar target market. Rivian is advertising and marketing to EV fanatics with energetic outside existence, 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 car registrations, which makes it nonetheless fairly small. And with the menace of a repealed EV tax credit score consuming into adoption charges, that leaves loads of time for manufacturers to start out filling up the market with their very own vehicles, vans, and different battery-powered folks 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 particular buyer.
So, at the very least 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 vehicles 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 as if the entire auto {industry} is holding its breath over the way forward for the $7,500 EV tax credit score—everybody aside from Lucid, that’s. Lucid’s perspective is apathetic at greatest, with CEO Peter Rawlinson throwing a giant fats shrug on the unknown quite than sweating whether or not or not Lucid’s future hinges on the incoming Trump administration eliminating the EV tax credit score.
“Lucid, amongst all of the EV makers, is actually essentially the most immune from that,” mentioned Rawlinson in an interview with Bloomberg, referencing the potential revocation of the $7,500 EV tax credit score.
See, Lucid is in a novel place: it would not want the credit score. Actually, the one car that it sells right this moment—the $69,900-and-up Lucid Air—would not even qualify for it as a result of the most cost effective 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 car, soon-to-be automobiles, speaks for itself and can assist information the automaker into the following section of its Gravity-fed development. 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 remedy appears to place little or no worry 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 robust place to climate any such storm.”
These are daring phrases for a automobile firm that’s projected to promote simply half of a % (sure, 0.5%) of the variety of vehicles 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 one of the best deal on the market due to a meager $7,500 low cost.
However then once more, if Rawlinson is correct, it may lastly be Lucid’s time to shine amongst the posh 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 Practice, Ditches EV-Solely Plan
Lotus has at all times been the model that cares extra about cornering than cupholders. The motive force-centric strategy was Lotus’ area of interest, however with years of bleak gross sales amid different premium manufacturers, the identical approach would additionally nearly be its coup de grace. Fortunately, Chinese language automaker Geely prolonged a lifeline—one that might remodel the model into an all-electric way of life model, or so we thought.
The British racing model beforehand dedicated to electrifying its lineup by 2028, and it appeared on observe to do precisely that because it launched its Eletre SUV. However now, Lotus appears to be taking the identical highway as different manufacturers and ripping up plans for an EV-only future. However quite than decide to a brand new ICE powertrain, Lotus is as a substitute seeking to the spectrum of hybridization in Geely’s components bins. Now, it may quickly provide Plug-In Hybrids (PHEV) and Prolonged Vary EVs (EREV) choices.
“At Lotus, we’ve got at all times chosen one of the best energy know-how out there, 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 response to AutoCar.
Feng mentioned that Lotus beforehand rejected plug-in hybrids as a result of they have 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 onerous to not ignore that this goes towards 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.” Possibly 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’ aspect.
So scoff at this route when you 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 information 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 automobile patrons 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 vehicles. Suppose: extra seating space, extra cargo house, higher acceleration. It is a compelling argument when you’re not fearful in regards to the barely elevated value or vary anxiousness.
I nonetheless discover myself window-shopping gasoline vehicles and EVs consistently (impractically, if I am being actual with myself). And with restricted choices on the market, it is easy to start out crossing segments and evaluating fashions that are not even out but. For instance, the GR Corolla versus the upcoming Rivian R3X—one in every of 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 reasonable are the posh 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 could be the Chevy Blazer EV and the Mazda CX-50.
There are many choices right here, and I need to know which gasoline automobile you final cross-shopped with an EV. Let me know within the feedback.
