The electric vehicle (EV) industry in the United States has exploded in the last decade, and it's only going to become bigger. The Biden administration has committed billions to the EV transition, with the goal of having electric cars account for half of all new car sales in America by 2030.
What sorts of electric car models are accessible for consumers in the United States today, given the increased demand?
Using data from Car & Driver and the EPA, this graphic illustrates every single electric car available for purchase in the United States, highlighting the huge diversity of manufacturers, vehicle types, and costs.
What Electric Vehicles Are Currently Available in America?
Currently, there are 28 different electric vehicles available in the U.S., from 18 different manufacturers. The Nissan Leaf and Mini Cooper SE are now the most economical solutions for Americans, both costing less than $30.000.
The Nissan Leaf is one of the oldest electric vehicles on the market, having been released in 2010. It's widely regarded as a pioneer in the EV field, and it's one of the best-selling electric vehicles in the United States-more than 14,000 automobiles were sold in the United States in 2021
While the Leaf's low price may appeal to some, its maximum range is the third shortest on the list, at 149 miles before requiring recharging. The Mini Cooper SE and the Mazda MX-30 were the only other vehicles with shorter ranges
With a starting price of $110,295, GMC's Hummer EV truck is the most costly EV on the list-however, GMC plans to introduce less-priced variants of the Hummer EV in the future years.
Rivian's R1T is the only other EV pickup on the market in early 2022 in the United States. More manufacturers, such as Ford and Chevrolet, are preparing to deliver their own electric pickup trucks, while Tesla's Cybertruck has been in development for years.
Putting EV Into Perspective
The worldwide battle for reducing emissions has sparked a craze for pure-electric vehicles. While Tesla is leading the race, several of its younger competitors have attracted institutional investors. For example, Saudi Arabia's national wealth fund spent $1.3 billion in Lucid Motors in 2019. One year later, it was disclosed that Amazon-owned a 20% investment in Rivian (worth $3.8 billion).
The Long Road Ahead
Rivian and Lucid will need to swiftly increase their production and sales in order to meet investor expectations. If you don't, you can end up with a lot of stock price fluctuation.
Investors should also keep in mind that both firms might face similar difficulties as Tesla, which Musk has dubbed "production hell." Rivian's first SUV has already been delayed, and Lucid buyers have been advised of delays owing to "fit and finish" concerns.
Nonetheless, these up-and-coming firms are aiming high. Rivian wants to make one million automobiles every year by 2030, while Lucid wants to make 49,000 cars in 2023.