Summary
- EV sales have been stalled out for around a year and a half now
- Many manufacturers big and small are still developing and releasing EV cars
- Lucid Motors has recently cut nearly 30% of the price off of their Air EV premium luxury car
- This has resulted in increased sales and genuine consumer interest
- Lucid is the first company in a long time to have sales outpace production when it comes to an EV, and their CEO is enthusiastic about the momentum that is starting build
- We think this momentum could be the first signs of the predicted EV resurgence that is expected between 2007 and 2030, but might come earlier.
Over the past while, we’ve covered lots of news and statistics that EV’s are either levelling off or, for some companies, dropping in sales. Consumers are picking hybrids over full EV’s in droves, with many companies having picked what many might see as the “wrong time” to develop a battery powered electric vehicle to be released in 2024 or 2025.
However, there are some manufacturers that are banking on the cause of the EV stalling in sales being that there is not enough of a charging network established quite yet. Range anxiety is one of the key factors in EV purchase decisions, as we’ve covered many times, as is the overall price of an EV being a significant percentage, often around 25% or more, of a “normal” hybrid or petrol powered car.
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