Not just Tesla: EVs Enter Entirely Different Landscape

Tesla, Inc. TSLA will hold its Battery Day today and expectations are high that the company will reveal news that might ease rising competition threats in the EV space.

Five years ago, EV buyers in the U.S. had only three electric options: Tesla's Model X and S, along with Nissan Motor Company Ltd. NSANY Leaf. Today, there are 13 battery-electric vehicle models available in the U.S. and 25 plug-in hybrid models. The figure is even greater if we include model variations. Moreover, dozens of new models will soon have their debut. The EV space will look entirely different two years from now as disruptive start-ups take the stage and established automakers join forces to adapt to the new era.

Pickups

At least five companies have announced plans to manufacture electric pickup trucks by 2021, namely Tesla, Nikola Corporation NKLA, Atlis, Hercules and Rivian. With so many EVs coming to market, there will be many new brands and more importantly, new technologies.

Solar and electric- best of both worlds

After recently revealing a partnership with U.S.-based EV manufacturer, Worksport Ltd. WKSP announced this morning it has entered into a strategic partnership with another EV contender, Atlis Motor Vehicles. The Atlis XT truck will integrate Worksport's revolutionary solar-powered system TerraVis that the established truck tonneau cover producer recently revealed.

Established automakers

Ford Motor Company F is looking to score points in the EV market with its upcoming battery-electric Mustang Mach E crossover SUV. Not to mention the upcoming electrified version of F-150, the best-selling vehicle in the US. General Motors Company GM has joined forces with Nikola in a $2 billion partnership.

Although Fiat Chrysler Automobiles FCAU is behind its peers in the EV race, it has been granted €800 million of financing by The European Investment Bank for manufacturing battery electric vehicles (EVs) and plug-in hybrids. The company's upcoming 50/50 merger with PSA Groupe with will create a new company called Stellantis, which is set to become the world's fourth-largest automaker.

Moreover, these automakers operate under franchise laws that were originally put in place to prevent manufacturers from opening stores that competed with dealers.

Rivian, which has been backed by both Ford and Amazon.com, Inc. AMZN, is facing a ban as Michigan auto dealers are trying to block startup electric carmakers from copying Tesla in selling and servicing consumers directly. The bill introduced in the Michigan legislature last week would block any manufacturer other than Tesla from selling cars without a dealer as an intermediary as well as from owning and operating service and repair facilities.

The 11-year-old company has raised about $6 billion for its production of R1T pickup and R1S SUV but Some of the up-and-coming EV pickup makers, have never manufactured a vehicle before. Design flaws, manufacturing challenges, or technological failures could wreck their finances and reputations before their vehicles even get off the ground.

The electric vehicle landscape is changing rapidly. These new developments could level up the entire industry to unforeseen highs. Moreover, these advancements could be to the benefit or detriment of Tesla. Its Battery Day should reveal how strong is its tech-savvy fortress. One thing is certain, we're entering a new era of competition in the EV space.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com

The post EVs in Two Years – An Entirely Different Landscape appeared first on IAM Newswire.

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