Summary
– Electric vehicles have become mainstream since the mid-to-late 2010s, with legacy car manufacturers like BMW, Audi, and Ford recognizing the benefits of lower fuel bills and less pollution.
– New EV makers like Rivian and Lucid Motors have emerged, while mainstream manufacturers are developing their own ground-up EVs.
– Tesla is a key player in the EV market, with models like the Model 3 being best-selling in the U.S. and a market capitalization of around $564.37 billion.
– Other important EV brands include Polestar, Lucid Motors, Fisker Inc., Rivian, Ford, BMW, Audi e-tron, Kia, and Mercedes-Benz EQ.
– These brands offer a range of EV models with different price points, providing consumers with various options for electric vehicles.
Article
In the mid-to-late 2010s, electric vehicles (EVs) became a mainstream phenomenon, with Tesla leading the charge. Legacy car manufacturers such as BMW, Audi, and Ford quickly recognized the cost and social benefits, such as lower fuel bills and reduced pollution, that come with having EVs in their line-up. As the 2010s transitioned into the 2020s, new dedicated EV makers like Rivian and Lucid Motors emerged, while mainstream manufacturers began developing their own ground-up EVs. This list highlights some of the most important electric car brands in 2024.
Tesla, founded in 2003 and co-owned by Elon Musk, played a significant role in bringing EV adoption into the mainstream. Its debut car, the Tesla Roadster, was the world’s first highway-legal, serial production car to use lithium-ion battery cells. The success of Tesla’s mid-sized Model 3 sedan, released in 2017, has made it the best-selling EV in the U.S. since its launch. Tesla has expanded its line-up to include models like Model Y, Model X, and the Cybertruck.
Polestar, initially Volvo’s performance arm, transformed into a standalone all-electric carmaker in 2017. The brand’s minimalist design and sustainable approach quickly gained popularity. The Polestar 2, introduced in 2020, was followed by the Polestar 3 and Polestar 4 SUVs. The company started trading shares on NASDAQ in 2022 and has plans to launch the Polestar 5 GT in 2025.
Lucid Motors, founded as Atieva in 2007, shifted its focus to luxury EV cars in 2016. The company’s first car, the Lucid Air, launched in 2021 and was recognized with the World Luxury Car Of The Year award in 2023. Lucid is set to release its second EV, the Gravity SUV, in 2025, and has partnered with Aston Martin to supply electric motors and battery systems for its upcoming EV range.
Fisker Inc., established in 2016 by Henrik Fisker and Geeta Gupta-Fisker, released its first EV, the Fisker Ocean, in 2023. Despite facing financial challenges, Fisker remains dedicated to its EV production. Rivian, founded in 2009, launched its R1T and R1S models in 2021, showcasing futuristic styling and high horsepower. The company has announced plans for new all-electric SUVs and an electric delivery van produced in collaboration with Amazon.
Ford, a longstanding automaker, has been involved with EVs since its foundation. The company’s first mass-market production EV, the Ford Focus Electric, debuted in 2011, followed by the Mustang Mach-E and the F-150 Lightning. BMW, another legacy carmaker, introduced the i3 in 2013, showcasing advanced carbon fiber construction. BMW’s current EV line-up includes models like the i4, i5, iX, and i7, with plans to expand the ‘Neue Klasse’ EVs and iX3 in 2025.
Audi entered the fully electric vehicle market in 2018 with the Audi e-tron, and has since expanded its EV line-up to include models like the Q4 e-tron, Q8 e-tron, and e-tron GT. Kia, with its first all-electric car, the Kia Soul EV in 2014, has become a popular EV brand known for bold designs and competitive pricing. Mercedes-Benz’s EQ sub-brand, launched in 2016, includes models like the EQB SUV, EQE Sedan, and EQS SUV, with plans to integrate electric models into its regular line-up by the end of the 2020s.
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