Model X | Tesla
If imitation is the sincerest form of flattery, then Elon Musk should be blushing.
In addition to the increased competition from big auto manufacturers, there are also now many venture-backed startups that are now kicking tires within the electric vehicle industry. According to Tracxn, a startup intelligence platform, some of Tesla’s rivals include Faraday Future, NextEV, and Atieva.
When automobiles first debuted in the United States, they faced a classic “chicken and egg” problem. On one hand, autos were custom-made luxury items, affordable only to a niche market of affluent individuals. On the other hand, there was little incentive for most people to buy automobiles in the first place, as the system of roads in America was woefully underdeveloped.
The creator of the first lithium-ion battery has just released a new battery cell that could mark the next stage of battery development, offering a huge boost for the electric car industry and beyond.
Chinese electric vehicle startup Nio will start selling its first mass-production vehicle next year, the firm said in a statement on Wednesday, as it unveiled its ES8 SUV car at the Shanghai auto show.