Emerging U.S. EV makers: Full-fledged market entry from end-2020
Rivian, Lucid, Lordstown, Karma, Fisker, Bollinger, Nikola, Byton, etc.
Entering 2020, the electrification movement in the U.S. automotive industry has been receiving increased attention. Major U.S. OEMs are competing on electrification plans and investments, which include the pillar of GM's global strategy for an All Electric Future, and Ford and FCA’s clarification that they are launching the full-scale introduction of EVs starting in 2020. In addition, Tesla Inc., a company specializing in EV manufacturing, surpassed its record for the production of EVs in Q4 2019 with more than 100,000 units, strengthening its position as a major OEM of electric vehicles.
Another notable activity is that of the emerging EV manufacturers currently preparing to seize the opportunity to enter the EV industry, many of which have announced plans to launch new products in late 2020 or early 2021. A number of the companies in what could be considered the first wave of venture group companies planning to launch EVs in the 2000s, are companies such as Karma, Faraday Future, and Dyson which have been forced to delay, revise, or withdraw from commercialization. Conversely, some current emerging EV manufacturers have specific plans in place and lessons learned from the failures and obstacles encountered by such companies, so they are focusing their product strategies on SUVs and trucks that are in high demand, sourcing batteries, securing charging infrastructure, and partnering with existing OEMs and large customers. These companies have realistic and comprehensive strategies and approaches that focus on operations and product marketability.
This report covers the activities related to electrification in the U.S., focusing on those major emerging EV manufacturers planning and preparing to enter or expand their electric vehicle presence in the U.S. market. This report also addresses some of the trends in the business environment, such as charging networks and infrastructure and laws and regulations that will determine the success or failure of EV launch planning. It is worth noting that this report is limited to those companies with a track record of launching products into the U.S. market and specific launch plans. No mention is made of future models whose launch timing is unclear, nor the concepts and components introduced at trade shows such as the CES.
Tesla: Improved performance with growing Model 3 deliveries, launching Model Y SUV (Mar. 2020)
CES 2020: Electrified vehicles and technologies (Feb. 2020)
U.S. OEM Electrification Strategies, Including EV Product Timelines (Sep. 2019)