Electric Vehicles Are Reshaping The Auto Industry

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This article traces the rise of the EV and how it is reshaping the auto industry. Unfortunately, many companies aren't ready for the shift.

argues that “battery-powered cars are having a breakthrough moment.” The moment, they say, is “erasing any doubt that the internal combustion engine is lurching toward obsolescence.”What is more curious to me is why automakers and their subsidiaries are so slow to jump on the proverbial bandwagon.

ICE light-duty vehicles, including sedans, SUVs, and pickup trucks, are problematic: they are currently responsible for 58% of US transportation sector greenhouse gas emissions.Pickup trucks are only the starting place for interest in electrification of larger vehicles. The. These include utility and delivery vans, step vans, heavy pickup trucks, and urban delivery trucks, falling in between light-duty passenger vehicles and heavy-duty commercial vehicles.

Consumer interest in the electric market for pickup trucks and vans is also clear—as of September 2021, over 130,000 preorders have been made for the Ford F-150 Lightning electric pickup truck only 5 months after its announcement in May, 2021. Initial plans to make 75,000 per year has been converted to goals twice that amount. The Lightning starts at $40,000 and runs up to more than $90,000.

 

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'Why did the auto industry wait so long?' First, US dealership model yield razor thin margins so it's tough (impossible) to overhaul your production lines to begin with. Second, profits. They waited long enough to see an established trend.

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