The Future of EV Mobility | Tesla, GM,
and Rivian
Leading the Electric Charge
November 24, 2023
Tesla and GM dominate the US EV market in the US, but Rivian emerges as a promising contender.
November 24, 2023
In the US electric vehicles (EVs) have been accelerating at an unprecedented pace, with Tesla and General Motors (GM) leading the charge. The two automakers collectively hold over 80% of the market share and are actively investing in developing new EV models and technologies. However, Rivian has begun gaming traction and is rapidly gaining traction, which could potentially shake up the EV landscape in the coming years. Let's delve into the current EV landscape in the United States, specifically focusing on these three dominant players.
Tesla: The Pioneer in the EV evolution
Tesla stands as the leader when it comes to EV market share in the US. In 2003, the EV was introduced by Tesla with a mission to accelerate and transition to sustainable energy.
Tesla has consistently pushed the boundaries of innovation within the EV sector. Tesla's vehicles are renowned for their extended driving range and unique aerodynamic curves in their design; we cannot overlook Tesla's advanced technology. Currently, the company's flagship model, the Model 3, claims the title of the best-selling EV in the US.
Tesla's dominance in the electric vehicle (EV) market
is undeniable and remarkable. The company delivered an estimated 1.75 million vehicles in 2023, representing a staggering 87% increase from 2022. This incredible growth is attributed to factors such as soaring demand for electric vehicles, Tesla's global expansion, and its ability to continue its scale-up in production at its new facilities. Tesla may be well-positioned to continue its growth trajectory in the years to come.
General Motors: A Legacy Automaker Embracing EVs!
EVs. However, in recent years, the company has made significant strides in gaining growth in EV market share. GM has allocated billions of dollars towards investing and developing new EV models, their plan is for 30% of its global sales to stem from EVs by 2035.
GM delivered 29,832 EVs in North America in 2022, including 24,794 Chevrolet Bolt EVs and Chevrolet Bolt EUVs and 5,038 Cadillac Lyriqs.
Despite the absence of specific numeric projections for the Lyriq's growth in 2024, GM's CEO Mary Barra, has expressed confidence in the model's potential, stating that it is "on track to exceed our initial expectations" and that it is "one of our most popular models."
How Rivian's Radical Vision is Trailblazing the Electric Vehicle Market
Rivian's concept is driven by environmentally friendly and mindful manufacturing. The company pioneers sustainable mobility with its high-performance, low-impact electric adventure vehicles, setting a new standard for environmental stewardship and inspiring a greener future.
Rivian's Premium Electric Vehicles Capture Attention
Rivian Automotive, one of the newest EUV in the spectrum that is attracting attention from within the EV industry including a slew of consumers and EV experts alike.
Rivians innovative electric vehicles and deep commitment to environmental commitment, has created a niche market that is getting closer to the heels of Tesla and GM.
The company's focus on top-notch electric SUVs and trucks aligns with the growing demand
The company's focus on top-notch electric SUVs and trucks aligns with the growing demand
for conscious transportation options, according to a recent survey by Deloitte, 66% of consumers are willing to consider an electric vehicle for their next purchase.
Rivian delivered 12,640 vehicles in 2023, a significant milestone for a startup automaker.
According to a recent report by InsideEVs, Rivian's pre-orders for its R1T pickup truck have surpassed 10,000. This suggests that there is enogh demand for Rivian vehicles, even though they are not yet available for purchase. Additionally, Rivian has received positive reviews from automotive journalists and early adopters, which could further boost interest in the brand.
My take
The US EV market is witnessing an unprecedented interest, Tesla and GM are continuing to spearhead this transformation. However, Rivian has emerged as a top rated contender, offering unique products and a strong branding and image. Yet while Rivian faces challenges in capturing significant market share, its potential to disrupt the electric vehicle industry cannot be overlooked. The future of the US EV market is poised for an exciting and dynamic competition between these three EV powerhouses.
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