U.S. Emerging EV Automakers: Rivian goes to volume production following Tesla

Vehicle deliveries to begin in 2022 with increased competition as OEMs accelerate EV launches

2022/02/21

Summary

Lucid Air's first delivery ceremony
Lucid Air's first delivery ceremony held in October 2021
(Source: Lucid Motors)

  While Tesla has made a great leap forward to become the leader in the EV market among the emerging EV ventures in the U.S. that have been established one after another since 2000, other companies have also been developing products and preparing for production, and several major manufacturers, including Rivian Automotive, Inc. (Rivian) and Lucid Group, Inc. (Lucid, Lucid Motors), have started to introduce their own EV models to the market in the second half of 2021.

  All of these emerging automakers are seeking to differentiate themselves and gain a competitive advantage by developing unique product strategies, production systems, sales systems, and customer segments, while others are seeking to accelerate their expansion by forming alliances with major fleet customers and outsourcing manufacturing and key components. While many companies have plans to expand their manufacturing footprint and sales network on a global scale, others are narrowing down their business scale and product lineups with a focus on their perception of the realities of the current competitive environment.

  However, there have been many reports of delays in the progress of the initially announced plans for volume production and development of vehicle models, and the competitive environment is expected to rapidly become more severe as existing automakers, which have overwhelming advantages in terms of production capacity and customer base, are announcing EV launches and plans one after another.

  In addition, with the goal of securing the necessary funds for technology development and production preparation, most of the major emerging EV manufacturers have listed on the stock market in the past year or two, but their subsequent financial results still report extremely small sales and deficit profit and loss. In addition, it has been reported that several companies have been investigated by the authorities for false or inadequate reporting and disclosure of business prospects and product capabilities, which continues to be a major issue with regards to the stability of their business foundations and securing the trust of investors and consumers.

  This report is an updated version of the previous MarkLines report (published in January 2021) that reported on the trends of emerging EV automakers in the U.S. It summarizes and reports on the recent trends and announced plans of major automobile manufacturers.

Related Reports:
CES 2022: Major OEMs accelerate electric vehicle push (Feb. 2022)
CES 2022 Round-up: 2022 - Year of EV, Premium ADAS, L3 and Robotaxis (Jan. 2022)
CES 2022: Electric vehicles from emerging automakers (Jan. 2022)
U.S. battery electric vehicle strategies for GM, Ford and Stellantis (Dec. 2021)
Foxconn: Transforming existing mobility with EVs (Nov. 2021)
U.S. Fuel Economy Regulations Tightened: MY 2026 CO2 171 g/mile, CAFE 52.0 mpg (Sep. 2021)
U.S. Market: Biden Administration Plans to Promote EVs and Strengthen Semiconductors (Jul. 2021)
WCX 2021: Challenges and considerations of electric vehicles (May 2021)
Emerging U.S. EV Makers on the Move: Many announce plans to launch in 2021 (Jan. 2021)

 

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