Why Electric Vehicles Are Going To Take Over The World

Interesting times in the electric vehicle market, as more and more carmakers try to position themselves in what looks like a second phase of growth.

In the luxury market segment, the announced launch of Tesla’s Cybertruck has galvanized a market that, in the United States, buys two million vehicles each year. What at first looked like a prototype of a prototype, has turned out to be a completely revolutionary design that combines a unique-looking vehicle with much lower manufacturing costs than expected. With more than half-a-million orders on its books, the company is now prioritizing its production over the Roadster.

Tesla Cybertruck (Image: Tesla)

Tesla Cybertruck (Image: Tesla)

The reason is simple: the Roadster appeals to a relatively marginal market and, from a target audience point of view, does not contribute much to the segments in which the brand already had significant appeal, whereas the Cybertruck, if successful, could allow it to dominate a very important and iconic part of the market that is fundamental to achieving mass popularity in a country like the United States.

In the economy segment, Volkswagen has announced plans to launch a family of electric vehicles priced at below $22,000, targeting city dwellers and not originally designed for the US, which was originally going to be launched under the Seat brand. Affordable mobility is an important segment that could shift a lot of units.

Read more: Forbes

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