VWAGY - Premium Brands Are Going for Their Piece of the EV Pie
Automakers across the globe have revealed plans to electrify their fleets over the next decade, with some announcing goals for fully electrified lineups in less than five years. It was only a matter of time for premium brands to join the EV train as 100 all- electric EV models are set to debut by the end of 2024 with the world’s first electric pickup coming this year. Today, we got a glimpse of Bayerische Motoren Werke Aktiengesellschaft (OTC: BMWYY)’s all-electric BMW i4.
The rapid developments in the EV race are making it difficult to keep up with the changes so here’s a little summary of premium EVs we’re in for.
BMW
BMW started its EV chapter relatively early with its i3 that had limited success in the U.S. The details for the just revealed i4 are scarce, but specs seem to be relatively true to the concept that was revealed during the time of the cancelled 2020 Geneva motor show. Upcoming EVs include iX and Vision, with plans of electric versions of the 5 Series and 7 Series sedans, as well as the X1 SUV. A dozen new EVs are planned to debut by 2025. Also under its umbrella, a Mini Cooper electric model is already available.
Jaguar Land Rover Limited
English brands Jaguar and Land Rover have been a subsidiary of Tata Motors Limited (NYSE: TTM) since 2008. The Jaguar side of the company already has its electric SUV, the I-Pace, that is combating Tesla. On the other hand, the Land Rover will gain its first EV model by 2024. In early 2021, the brand revealed all Jaguar and Land Rover models will have an electric version by the end of the decade, with six new electric Land Rover SUVs over the next half of a decade, and an all-electric Jaguar lineup in just 4 years.
The announcement makes Jaguar the biggest legacy OEM to commit its future to electric cars, following similar announcements from Volkswagen Group (OTC: VWAGY)-owned Bentley and BMW Group-owned Rolls-Royce. But JLR will not stop at battery EVs as CEO Thierry Bolloré revealed that the aim is to achieve net zero carbon emissions across the supply chain, products and operations by 2039.
Audi
Volkswagen Group-owned Audi already had an E-Tron model in production, and recently introduced its stunning electric flagship, the e-Tron GT, which is built on the same platform as the equally fetching Porsche Taycan EV that is giving Tesla a run for its money. To make sure the model really stands out, sound engineers have been asked to develop a new soundtrack.
Bentley
Another brand under VW’s umbrella, Bentley, also joined the EV revolution as its CEO stated all Bentleys will be either hybrid or pure electric by 2026, with all vehicles being electric-only by the end of the decade.
Lamborghini
It’s no secret that the Volkswagen Group is eager to have all its brands participate in its electric revolution so Lamborghini won’t be an exception. Lamborghini E_X Electric Hypercar has no doors but a canopy that lifts off the car, exposing a single, centrally mounted seat. Its design is inspired by ’70s Gandini’s masterpieces, fighter jets, and racing prototypes. The character is preserved by avoiding unnecessary graphics with clean and sharp design, with the end result being new but recognizable.
McLaren
Before the Artura, McLaren has offered plug-in hybrids, but never as part of its popular Sport Series. This plug-in hybrid will debut this year with an impressive design and futuristic features. The company has vowed to pivot toward EVs and cease development of ICE models by 2030. fully electric supercar isn’t expected before 2025.
Aston Martin
Aston Martin’s executive chairman Lawrence Stroll revealed to the Financial Times that the British brand’s first EVs will be built in the United Kingdom. Its first two EVs will be a sports car and a crossover. Although the two EVs will be made in Aston’s UK plants, Mercedes plans to up its stake in Aston Martin to 20 percent by 2023.
Porsche
Porsche’s first EV, the Taycan, has been a hit and therefore, the automaker introduced its much-anticipated wagon variant in early March, Porsche Taycan Cross Turismo, which is sold as a crossover. This version brings more utility with more cargo room than the sedan and additional ground clearance. The two models should arrive at US dealerships this summer.
Mercedes
Mercedes is going full speed ahead with its EQ range. Earlier this year, Mercedes revealed its EQA compact crossover. Next month, the slick Mercedes EQS luxury sedan is expected to make its world debut, followed by the EQE as an electric equivalent to the E-Class and Tesla S model. By 2022, Mercedes plans to offer ten different battery-electric cars.
Bentley
In February, Bentley revealed its roadmap to sustainable, recyclable electric motors with a three-year research study. The study will support its commitment to offer only hybrid or electric vehicles by 2026 and a fully electric lineup by 2030 by revolutionizing the sustainability of electric motors. The study titled RaRE, that stands for Rare-earth Recycling for E-machines, is devising a method of extracting magnets from waste electronics. The goal is to scale up and repurpose the extracted magnetic material into new recyclable magnets that can be used within ancillary motors.
To be continued…
As automakers are accelerating their efforts towards electrification, this transformation will be unprecedented. Ferrari is also working hard on its new model, Hybrid V6, which will pioneer new technology but not a lot of details have been released. A lot of similar new information is bound to come out, along with developments in infrastructure, batteries as well as sustainability of manufacturing processes and sourcing of materials.
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