Tesla Is lapping Germany’s automakers in the global EV race
BYD meanwhile is steering clear of the U.S. market because of trade barriers, and several smaller Chinese EV startups may not survive the industry’s price war.healthy profits selling combustion-engine models, including in China. Mercedes and BMW aren’t following Tesla out of premium price segments and are still roughly doubling EV sales, year-over-year.
VW is readying a compact EV priced at less than €25,000 — a people’s car for the electric age — that’s a couple of years away from production. Europe’s largest carmaker recently bolstered its rolling five-year spending plan to €180 billion, with more than two-thirds going to software and EVs. Its ID.7 sedan that will hit showrooms later this year comes with an augmented-reality display that beams information into the driver’s field of vision.
Mercedes will introduce an electric version of its compact CLA sedan in the US next year to better compete with Tesla’s Model 3, according to an Automotive News report. It’s also electrifying the iconic G-Wagon. BMW is betting that its “Neue Klasse” underpinnings, due to arrive around 2025, will help accelerate sales. The manufacturer aims to cut battery costs by half and increase range and charging speed 30% compared to current models.
“The next-generation EV platforms from the Germans could change things,” said Bloomberg Intelligence analyst Michael Dean. “That’s when you’ll see a big push from them, also in China.”
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