U.S. automaker Tesla continues to maintain a stronghold in the high-end electric vehicle market, though several other companies such as Audi, Lexus, Mercedes and BMW are gaining ground.
The remaining 44 percent of share of overall EV sales is scattered unevenly among several companies, including Hyundai, Chevrolet, Kia and Ford, which are offering options below Tesla’s hefty $50,000 price point. As more consumers show interest in electric vehicles, Ms. Brinley believes that by the end of 2025 the number of EV nameplates will be up more than three times its current number, from 48 to 159. This will outpace Tesla’s ability to add more factories with which to enhance production.
On the manufacturing end, there is the matter of still-developing infrastructure, and the capacity to produce vehicles at the necessary rate and volume remains limited for the foreseeable future.