Recently, there have been several developments on the situation for transitioning to electric cars. Tesla turned its first full-year profit, while there have been rumors of Hyundai negotiating to make a driverless car with Apple. Additionally, General Motors announced that it would discontinue the selling of gasoline-powered cars by 2035.
Rivian is a company following in Tesla’s footsteps for the manufacturing of electric trucks. However, it is much more pragmatic and is more traditional and by the book than Tesla. They are currently operating out of a former Mitsubishi plant in Illinois, with many influential backers including: Ford, Fidelity, and Amazon. Rivian intends to grow by producing adventure vehicles capable of off-roading, a niche market not pursued by Tesla.
Arrival is another company pursuing electric vehicles, with delivery vans and buses. They also plan on using giant plastic panels instead of sheet metals with automated assembly lines to speed up the process. Currently based in London, Arrival is sponsored by Hyundai and Kia with investments of $120M and UPS investing 10000 pre orders of the company’s vans. They are expected to begin trading later in this quarter of 2021.
Existing Takes on Electric Vehicles
General Motors(G.M.)’s announcement has a big impact. They are completely serious about stopping the production of combustion engines by 2035 and are committed to the plan. Additionally, Ford and Volkswagen are both investing tens of billions of dollars to develop electric vehicles. Many companies are convinced that there will be a point of no return to the time before electric vehicles. This movement could slow down due to economic shortages or pandemics like right now. However, there will always be progress made through technological developments advancing the movement along with companies like Arrival, Rivian, and Tesla.
As we progress towards the integration of electric cars, companies will need to innovate in this field of technology. Tesla’s uniqueness was delivered through the novel concept of an electric car. However, now that this has been delivered, startups have to find new breakthrough, such as complete self-driving, mass-production, and more.