The article fails to answer its own question. Luxury EV sales are failing but cheap EV sales are going through the roof.
Most manufacturers tried to follow the Tesla playbook of starting expensive (BYD is a notable exception). But this is a failure to learn from Henry Ford.
Mercedes was already on the market when the Ford Model T was invented. But the Model T was cheap and affordable to working folks. This is the product that's needed in the EV market, at least in the US.
PaulHoule · 2h ago
Before Tesla the assumption was that electric car technology was difficult so between high costs and low performance the first product was going to be something utilitarian like
and the genius of Tesla what that they realized that lithium-ion batteries would enable a car that was desirable, that the market could start with sporty vehicles that are luxurious in some sense. Had anyone else wanted to make luxury EVs they should have tried 20 years ago, or even 10 years ago. That ship has long since sailed.
Kon-Peki · 12h ago
A Model T cost $900 in 1910 and $260 in 1925. Ford was constantly pushing the price down.
Most manufacturers tried to follow the Tesla playbook of starting expensive (BYD is a notable exception). But this is a failure to learn from Henry Ford.
Mercedes was already on the market when the Ford Model T was invented. But the Model T was cheap and affordable to working folks. This is the product that's needed in the EV market, at least in the US.
https://en.wikipedia.org/wiki/General_Motors_EV1
and the genius of Tesla what that they realized that lithium-ion batteries would enable a car that was desirable, that the market could start with sporty vehicles that are luxurious in some sense. Had anyone else wanted to make luxury EVs they should have tried 20 years ago, or even 10 years ago. That ship has long since sailed.