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Tesla, Rivian, NIO, ACE, and hundreds more car companies are hoping that 2021 will be the year of the electric vehicle(EV).
The EV movement has continued to grow in strength globally in recent history. Unfortunately 2020 changed a number of plans.
The pandemic became the leading story and focus in 2020. Plans were postponed.
Vaccines are becoming more prevalent which is improving the community confidence. This in turn is growing confidence in the EV marketplace.
Electrification was subject to much discussion over the last 10 years.
Taking a view that shifting towards electric vehicles is considered the solution to improving the environment.
Introducing Electric vehicles to the marketplace has taken on new life recently with many established car manufacturers starting to shift their fleet towards an all-electric lineup.
Nissan, Mercedes, GM and many more have all started to unveil a plan to transition to electric in the coming years.
Transitioning would not have been possible had it not been for the pioneers of the electric vehicles.
Since the invention of the electric motor, notably attributed to the inventor Nikola Tesla, to the modern-day technological advancements of autonomous driving, the electric car is offering very compelling reasons to transition away from the ICE vehicles of the last century.
Since the beginning of 2021 a number of Electric car manufacturers have been given confidence that 2021 will be a year to remember.
Tesla
The end of 2020 was a race for Tesla to deliver a record-breaking delivery/production of Tesla vehicles in one Year. Elon musk himself in 2014 predicted that Tesla would manufacture 500000 vehicles by 2020. This prediction was right on point.
Tesla had an encouraging year with Production of 509,737 vehicles from their factories in Fremont California and Shanghai, China. This production rate is quite impressive considering that both factories has to shut their doors and manufacturing for a number of weeks in the earlier part of 2020 due to the pandemic.
What is even more significant about these numbers is the evidence that Elon Musk prophesized 6 years ago that 500,000 was possible. 499,550 deliveries for 2020.
The response to these figures along with the acceptance to the S&P 500 has seen the Share price in the beginning of 2021 surge close to 5% and the share price is currently at $880.02 (USD) a share.
The market is now realizing that the electric vehicles market will grow into the future and become the dominant vehicles sales leading into the next decade.
Rivian
Rivian has been an exciting company to follow and understand. After spending 10 years in stealth mode developing their new platform of off roading vehicles, they revealed to the world just a few short years ago 2 compelling and exciting vehicles, the R1T, and R1S.
Recently, Rivian worked with Ewan McGregor and Charlie Borman’s Long way Up as part of an epic road journey. This journey sent them on a 12000 miles journey from the tip of south America to the Las Angeles home.
As the support vehicles they selected the Rivian R1T to be their vehicle of choice. Rivian’s vehicles became the first two ever built and they were a test bed for the vehicles to perform. Perform they did. Not only did they make the journey, but they also helped to develop their technology further and show the real capabilities of what the years of development have led too.
2021, for Rivian, will be a year of growth and deliveries. R.J. Scavenger the CEO of Rivian, and the whole team at Rivian should be proud of what they have done and what the future holds.
NIO
NIO released details of another vehicles that will help to compete in the marketplace both in China but also globally.
This introduction of the new ET7 will be their first step towards the Sedan market. This will be a direct competitor with eh model 3 that Tesla produces.
Up till now has been focused on the sports car and SUV market. Their development of Battery swap technology and autonomous driving gives them an established footprint to grow their customers and market value.
They have demonstrated one thing above all, you need to compete with, or better than, your competitors. The introduction of the ET7 may just be the vehicle to do that.
Here in Australia we have not been as prolific with our uptake of electric vehicles. This is due to a number of challenges including lack of understanding the shift to the global transition of electrification.
Federal government lack luster attempt to support the economy with propping up the Gas, Coal and Oil industries to the tune of Billions a year whilst missing the opportunities that electric vehicles and renewables could offer the Australian economy.
However, Australia has some bright lights in this shadow.
ACE EV
ACE EV is an Australian electric vehicle company. They continue to take strides to develop and grow the uptake of electric vehicles.
They have shown how passionate they are about their products. This will help drive the uptake and transition to the electric vehicles market.
They has been developing a lightweight, compact vehicles. Their focus is on last mile delivery vehicles and is looking to the consumer market in the coming years.
Australian ingenuity and innovation is driving the industry. It is hoped that it will drive further innovation and growth in this marker.
These 4 car companies and the hundreds more that exists with their innovative thinking and passion towards improving the environment, hoping to develop and introduce safer and autonomous driving experiences demonstrate that 2021 just might be the year of the electric vehicle.
The excitement that has occurred in late 2020 and is now starting to ramp up in 2021 only encourages me to think that this year will be transformative and will be the year that history looks back on saying how amazing it would have been to see this transition in person.
Dave