Porsche is selling more electric Taycans than its flagship sports car

2021 Porsche Taycan._4
The 2021 Porsche Taycan.

  • The Porsche Taycan EV is starting to outsell the brand’s iconic 911.
  • During the first nine months of 2021, Porsche sold several hundred more Taycans than 911s.
  • The Taycan is in its second year of production. The 911 has been around for nearly 60 years.

In only its second full year in production, Porsche’s first electric model is starting to outsell its longtime flagship sports car, the 911.

It’s the latest sign that electric vehicles, which have made up a tiny fraction of global vehicle sales for years, are gaining traction.

Porsche sold 28,640 Taycans worldwide during the first nine months of 2021, the company said Friday. It delivered 27,972 911s over that period. The Taycan is also outpacing the 911 in the US, selling 1,861 units compared with the 911’s 1,621.

Porsche launched the Taycan in 2019 as a high-powered, four-door sport sedan that competes with the Tesla Model S. In early 2021, Porsche added a new base version of the Taycan that costs $82,700. It recently introduced a roomier, station-wagon variant called the Taycan Cross Turismo. The Cross Turismo rides a bit higher than the regular Taycan so owners can take it on dirt roads and gravel paths.

Porsche, a brand under the Volkswagen Group umbrella, wants at least 80%of the vehicles it sells to be either fully electric or hybrid by 2030. A battery-powered version of its popular Macan SUV is due in 2023, but don’t expect an electric 911 anytime soon.

CEO Oliver Blume, told reporters in March that the 911 will be the last Porsche to go electric, if it ever does.

Read the original article on Business Insider

General Motors could surge 46% as it transitions vehicle software to a recurring subscription model, Wedbush says

2024 GMC Hummer EV SUV
2024 GMC Hummer EV SUV.

  • General Motors’ 10-year plan will see the company transition to a profitable software subscription model, according to Wedbush.
  • The research firm said in a Monday note that recurring revenue from its software business will drive 46% upside in GM stock.
  • “The software and services business attached to the EV shift represents a potential gold mine for the company,” Wedbush said.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

General Motors is poised to capitalize on its transition to electric vehicles through the sale of value-added software that will enable autonomous driving capabilities, according to a Monday note from Wedbush.

That should help drive General Motors’ stock price to record highs, with Wedbush backing its “outperform” rating and an $85 price target, representing potential upside of 46% from Monday’s close.

Wedbush analyst Daniel Ives said General Motors’ aggressive 10-year growth plan laid out at its analyst event earlier this month is “clear and hittable.” The automaker said it expects to double its revenue from $140 billion to $280 billion by 2030.

That growth will be driven in part by a software subscription for vehicles, which would enable autonomous and assisted driving capabilities. Ives expects General Motors to realize $2,000 in annual recurring revenue per vehicle from its software offerings.

“The software and services business attached to the EV shift represents a potential gold mine for the company, bringing in $20 billion to $30 billion of incremental services and software [revenue] we see over the next 5 to 7 years,” Ives said.

And as the demand for autonomous driving increases, General Motors will have considerable pricing power and be able to raise its software subscription prices throughout the decade, according to Ives. General Motors has been developing its own autonomous driving technology through its 2016 acquisition of Cruise.

While General Motors’ autonomous driving software subscription model is still under development, most important to the company’s stock price going higher is a re-rating from Wall Street. That will hinge on the automaker’s ability to convert its existing vehicle base to electric.

“The Street for obvious reasons remains skeptical and the Chevy Bolt fiasco and chip shortage have combined cast a dark shadow over the stock and thus kept many investors at bay,” Ives explained. But the automaker can shift the narrative among investors as it lays the groundwork to capitalize on a “golden opportunity,” according to Ives.

Ives expects General Motors to convert 20% of its customer base to electric vehicles by 2026, and 50% by 2030. That EV base is what will help drive an explosion in software growth for the 113 year-old company.

Shares of General Motors traded up 1% in Tuesday trades, and are up about 40% year-to-date.

General Motors stock price
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Elon Musk says Tesla is worried about a potential labor shortage at its Berlin Gigafactory

A green street sign outside the new Tesla Gigafactory in Berlin says Tesla Strasse, or Tesla Road
A “Tesla Road” street sign outside the company’s new Gigafactory. Elon Musk has raised concerns about possible staffing issues.

  • Tesla CEO Elon Musk said he was “worried” about staffing in Berlin, Reuters reported.
  • “We’re a bit worried we won’t be able to find enough people,” Musk said on Saturday.
  • Concerns about staffing at the site have been brewing since the factory was announced in 2019.

Tesla CEO Elon Musk on Saturday raised concerns about staffing at the company’s new Gigafactory plant outside Berlin, Reuters reported.

“We’re a bit worried we won’t be able to find enough people,” Musk said on Saturday, according to the report. “We really need great talent to come here from all over Europe.”

Musk’s comments came during a live stream as part of a music festival held at the new Gigafactory Berlin-Brandenburg, where vehicles were expected to begin rolling off the line within weeks.

Concerns about staffing at the site have been brewing since the factory was announced in 2019. Some observers noted the stark differences in working culture between the US and Germany.

Earlier this year, Handelsblatt, a local newspaper, reported that the company was struggling to fill positions at the factory, saying skilled battery-cell workers were scarce in Germany.

The factory had been expected to open in July, but construction at the site in Grünheide was slowed by several issues, including paperwork requirements.

“We are currently constructing Gigafactory Berlin under conditional permits in anticipation of being granted final permits,” Tesla said in its most recent quarterly filing with the US Securities and Exchange Commission in July.

There have also been environmental concerns, including worries about disturbing the local lizard population.

Expanded Coverage Module: what-is-the-labor-shortage-and-how-long-will-it-last

Read the original article on Business Insider

Elon Musk says Tesla is moving its headquarters to Austin, Texas

Tesla CEO Elon Musk
Musk said Tesla is still looking to scale up operations in California and Nevada.

  • Tesla is moving its headquarters from the Bay Area to Austin, Texas.
  • Elon Musk announced the move during Tesla’s annual meeting of shareholders.
  • Tesla is building a manufacturing plant outside of Austin, and Musk now lives in Texas.

Tesla is moving its headquarters from California’s Bay Area to Austin, Texas.

Tesla CEO Elon Musk made the announcement during Tesla’s annual shareholder meeting on Thursday. Signs were pointing to an imminent move to the Lone Star State even before the event.

Musk stressed that although Tesla’s homebase is moving from Palo Alto to Austin, Tesla isn’t leaving California altogether. The company still aims to expand output from its Fremont, California, factory by 50%, he said.

“To be clear though, we will be continuing to expand our activities in California,” he said. “So this is not a matter of Tesla leaving California.”

Tesla decided to move in part because it’s difficult for employees to afford houses in the Bay Area, and that some people need to commute from far away, Musk said.

“There’s a limit to how big you can scale in the Bay Area,” he said.

Tesla has been working on a manufacturing plant outside of Austin since the summer of 2020. Over the last year, Musk moved both his residence and his charitable foundation to the state. Tesla’s latest two press releases in late September and early October came out of Austin, fueling speculation about a move.

In May 2020, after butting heads with local officials over coronavirus restrictions, Musk threatened to move all of Tesla’s operations to Texas or Nevada.

In recent years and especially during the pandemic, Austin has attracted droves of tech workers from Silicon Valley and elsewhere. Tesla will join companies including Google, Facebook, and Oracle, which all have offices in the city.

Read the original article on Business Insider

Take a closer look at the electric Rivian R1T pickup’s coolest option – the $5,000 Camp Kitchen

The 2022 Rivian R1T.
The 2022 Rivian R1T.

  • The Rivian R1T electric pickup is finally here – and we got to check it out in the flesh.
  • The $5,000 Camp Kitchen aims to make cooking in the great outdoors a breeze.
  • It comes equipped with a stove, a sink, lighting, and all the cookware you need.
  • See more stories on Insider’s business page.
Electric-adventure-vehicle maker Rivian first showed off its Camp Kitchen feature at an expo years ago.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Now the startup automaker is actually building its first pickup – the $67,500 R1T – and we got to take a look at the Camp Kitchen up close.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Read More: Amazon-backed Rivian beat Tesla to the market with its electric truck. We put it to the test in the Colorado mountains.

It stows away in the R1T’s Gear Tunnel when not in use…

The 2022 Rivian R1T.
The 2022 Rivian R1T.

And slides out like a giant drawer when you need it.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Flip it open, and you’ve got everything you need to cook a meal, eat it, and clean up anywhere.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

There’s a two-burner induction cooktop from Dometic.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Induction works great for this application, a Rivian rep told me, because it heats quickly and cools off in seconds. That way you can stow the kitchen away without waiting.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

On the right side of the kitchen there’s a cutting board and spoon rest.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The cutting board conceals the Camp Kitchen’s sink.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The basin has an accordion design so it folds flat when not in use. You push downward to pop it open when you need to wash some food or dishes.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

By the sink there’s a faucet.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Read More: I went off-roading for the first time in Rivian’s new truck — and now I’m convinced EVs are the future of 4x4s

It’s connected to a removable 4-gallon water tank that’s accessed from the other side of the truck.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

At $5,000, the Camp Kitchen doesn’t come cheap. But that gets you more than just a cooktop and sink.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The kitchen’s three drawers come filled with a 30-piece cooking set.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

It includes pots, plates, silverware, bowls, a kettle, and all manner of cooking utensils.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Every piece of the set has a spot in these cork inserts. The idea is to stop everything from rattling around when you’re driving.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Also included is a string light that hangs from two poles on either side of the kitchen. Nobody likes to cook in the dark.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The lights plug into a USB port.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

What’s perhaps even more exciting than the kitchen itself: You can also option the truck with just the sliding drawer system it sits on. The Gear Shuttle costs $1,500.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Rivian says it’s working on lots of other accessories for the shuttle. Bins, refrigerators, and heaters to dry off ski boots were all floated as possibilities. But I’m more eager to see the hacks owners come up with all on their own.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Outdoor gaming rig? Mobile frozen marg station? Really skinny hot tub? On-the-go tanning bed? The possibilities are truly endless.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Read the original article on Business Insider

The 15 coolest features of the Rivian R1T, the $67,500 electric pickup built for hanging outdoors

The 2022 Rivian R1T.
The 2022 Rivian R1T.

  • The Rivian R1T electric pickup has arrived – and we got to drive it.
  • The truck comes packed with cool capabilities you can’t get in any other truck.
  • The $67,500 R1T is all about camping, biking, hiking, and chilling in the great outdoors.
  • See more stories on Insider’s business page.
America’s first serious electric pickup truck has arrived.

[EMBARGO 9/28 DNP] Rivian R1T
The Rivian R1T.

Not only does the Rivian R1T perform tremendously on-road and off, it’s packed full of clever features.

[EMBARGO 9/28 DNP] Rivian R1T
The Rivian R1T.

Pickups are all about utility, but the R1T steps things up with a dazzling array of cool capabilities. Some trucks are for work, but the R1T is built mainly for play.

[EMBARGO 9/28 DNP] Rivian R1T
The Rivian R1T.

Since Rivian envisions owners going places to hike, bike, and generally be outdoorsy, it developed a waterproof bracelet as one option for unlocking the truck.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The go-anywhere truck also offers seemingly endless places to chuck gear and backpacks.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

There’s, of course, the bed, which is 4.5 feet long but extends to six feet with the tailgate down.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

It has a built-in cover that rolls closed with the click of a button. (A manual cover is standard).

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Underneath the bed’s floor, there’s another storage area that can hold the spare tire or other stuff. It has a drain hole so owners can fill it with ice and use it as a cooler.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Up front you’ve got a generous frunk that’s a bit smaller than the trunk you’d find in a compact sedan.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

It has plenty of room for a few fully-stuffed backpacks and has a lower storage area below a folding panel.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Then there’s the Gear Tunnel, a cavernous, 67-inch-long cubby behind the rear seats that’s become one of Rivian’s signature features.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Yes, it fits a full-grown human, in case you were wondering. Weirdo.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The Gear Tunnel’s doors double as seating or a step to reach the truck’s roof.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

They also have little storage cubbies built in.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

There’s plenty more cargo space inside the truck, including under the back seats.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

You can also access the Gear Tunnel through a pass-through between the rear seats.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The R1T has plenty of handy tricks up its sleeve aside from places to put things.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Rolls-Royce puts an umbrella in its doors. The R1T has a flashlight.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

It’s powered by a single cell from Rivian’s battery pack, which is neat.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Similarly, Rivian included a bluetooth speaker that slots under the center console. It’s called the Camp Speaker.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

It has a lantern function with a few brightness settings and a USB-C port for charging a phone.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Speaking of lighting, there are LEDs built into the side-view mirrors that could light up a campsite.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Rivian scattered several power outlets across the R1T: There’s one in the frunk, two in the Gear Tunnel, and two in the bed.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

In the bed, you’ll find a built-in air compressor that you can use to fill up the tires after a day on the beach or off-roading.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The truck comes with a 20-foot hose along with attachments for inflating bike tires, rafts, and balls.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

Then there’s the Gear Guard, a security system for protecting your truck and stuff when you’re parked.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The feature uses cameras to monitor the outside of the truck and the bed. This animation pops up when the system is armed.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

The R1T comes with a Gear Guard cable that you stick into these slots in the bed to lock your gear up. If the truck senses that somebody is tampering with the cable, it sounds an alarm.

The 2022 Rivian R1T.
The 2022 Rivian R1T.

You can tell Rivian went all-out with thoughtful extras that set the R1T apart from any other truck on the market.

[EMBARGO 9/28 DNP] Rivian R1T
The Rivian R1T.

With several electric trucks coming from titans like GM and Ford, all those unique extras may be just what Rivian needs to stand up to the big guys.

[EMBARGO 9/28 DNP] Rivian R1T
The Rivian R1T.

Read the original article on Business Insider

14 easy-to-miss details that set the F-150 Lightning apart from Ford’s gas pickups

The Ford F-150 Lightning.
The Ford F-150 Lightning.

  • I got to check out Ford’s upcoming electric pickup truck: the F-150 Lightning.
  • It looks a lot like a gas-powered F-150, but with some key differences.
  • The Lightning has a front trunk, a new hood, a giant touchscreen, and power outlets galore.
  • See more stories on Insider’s business page.
Across a crowded parking lot, you might mistake the upcoming F-150 Lightning for just another gas-drinking Ford truck.

The Ford F-150 Lightning
The Ford F-150 Lightning

But once you dig deeper, the traits that set apart Ford’s electric pickup become clearer.

F-150 Lightning
The Ford F-150 Lightning.

Up front, you’ve got a textured black panel instead of a grille – a tell-tale sign that there’s no engine under that hood.

The Ford F-150 Lightning
The Ford F-150 Lightning

The headlights and taillights have been redesigned with a more angular look.

The Ford F-150 Lightning
The Ford F-150 Lightning

The Lightning also gets an LED light bar spanning the entire width of the truck in front.

The Ford F-150 Lightning.
The Ford F-150 Lightning.

There’s a matching LED strip running across the rear.

The Ford F-150 Lightning
The Ford F-150 Lightning

Lightning badging can be found on the sides of the bed…

The Ford F-150 Lightning
The Ford F-150 Lightning

Along with a more subtle logo out back.

The Ford F-150 Lightning
The Ford F-150 Lightning

The charging port is under this little door on the front fender.

The Ford F-150 Lightning
The Ford F-150 Lightning

Ford redesigned the front fenders, hood, bed sides, and running boards for aerodynamics and to fit the new lights and charging door.

Ford F-150 Lightning
The Ford F-150 Lightning.

But that’s pretty much it for exterior changes.

The Ford F-150 Lightning
The Ford F-150 Lightning

Under the hood, the F-150 Lightning has a roomy front trunk dubbed the Mega Power Frunk.

Ford F-150 Lightning frunk.
The Ford F-150 Lightning’s frunk.

Read More: The Ford F-150 Lightning’s massive frunk is packed with useful features — take a closer look

It has a handful of power outlets…

The Ford F-150 Lightning's frunk.
The Ford F-150 Lightning’s frunk.

An extra storage cubby under the floor…

The Ford F-150 Lightning's frunk.
The Ford F-150 Lightning’s frunk.

… And a removable panel you can use as a storage divider.

The Ford F-150 Lightning's frunk.
The Ford F-150 Lightning’s frunk.

Stepping inside the Lightning, you can’t help but notice the 15.5-inch touchscreen that dominates the dashboard.

The Ford F-150 Lightning
The Ford F-150 Lightning

It’s just like the one in the Mustang Mach-E EV and has an actual volume knob embedded in it.

The Ford F-150 Lightning
The Ford F-150 Lightning

Other than that, the cab is pretty much the same as a conventional F-150.

The Ford F-150 Lightning
The Ford F-150 Lightning

The Lightning has all the options you can get in Ford’s other trucks, like a fold-out work surface and seats that recline 180 degrees.

The Ford F-150 Lightning
The Ford F-150 Lightning

That’s one of the most notable features of the Lightning – just how much it shares with the F-150s people are already familiar with.

The Ford F-150 Lightning
The Ford F-150 Lightning

Ford went through a lot of trouble to give the Lightning’s bed the exact same dimensions as other F-150s, despite the giant battery hidden underneath the floor.

The Ford F-150 Lightning
The Ford F-150 Lightning

That way, F-150 owners can use their existing racks and other accessories on their new EV.

The Ford F-150 Lightning
The Ford F-150 Lightning

The Lightning’s tailgate has the same built-in work surface found in other 2021 F-150s.

The Ford F-150 Lightning
The Ford F-150 Lightning

It also has the same tie-down points that double as bottle openers on either side of the tailgate.

The Ford F-150 Lightning.
The Ford F-150 Lightning.

The preproduction Lightning I checked out also had an optional step that folds out from the tailgate.

The Ford F-150 Lightning
The Ford F-150 Lightning

The EV’s bed does have one thing you won’t find in other pickups (except the hybrid F-150): 7.2 kilowatts of power available through several outlets.

The Ford F-150 Lightning
The Ford F-150 Lightning

Preproduction of the F-150 Lightning started in September and deliveries are set to begin in Spring 2022.

The Ford F-150 Lightning
The Ford F-150 Lightning

Pricing starts at around $40,000 for a basic work truck but can stretch to $90,000 for a Lightning with a bigger battery and all the bells and whistles.

The Ford F-150 Lightning
The Ford F-150 Lightning

Read the original article on Business Insider

Tesla drivers looked at the road less when using Autopilot in an MIT study – but they weren’t necessarily distracted, researchers say

Elon Musk
Tesla CEO Elon Musk.

  • Tesla drivers looked at the road less often when using Autopilot in an MIT study.
  • Drivers using Autopilot looked elsewhere for longer, including at their phones, the study found.
  • But the researchers said the findings didn’t necessarily mean the drivers were distracted.
  • See more stories on Insider’s business page.

A new eye-tracking study of Tesla drivers found that they looked at the road less often when their vehicles were using the company’s Autopilot driver assist.

Researchers at the Massachusetts Institute of Technology (MIT) tracked where 290 Model X and Model S drivers looked while using Autopilot, and compared the measurements against the same people driving without Autopilot.

Autopilot allows the cars to brake, accelerate, and steer automatically. Tesla cars on Autopilot are not fully autonomous and the company says on its website that the mode needs active driver supervision.

People looked at the road less frequently when driving with Autopilot, the researchers found, although there was little difference in the duration of their glances at the road, compared to when they drove without Autopilot.

The data suggested that people paid less attention to the road when Autopilot was engaged, the researchers said. But it didn’t necessarily mean that the drivers were distracted, “because driver behavior cannot be assessed in isolation of the driving situation,” they said.

“It is unknown what is a sufficient level of attention with automation to meet or exceed the safety threshold of a conventional vehicle,” the researchers said.

Tesla didn’t immediately respond to Insider’s request for comment on the study’s findings.

MIT’s study looked at trips with Autopilot-enabled vehicles that drove at least partly on a highway. It measured drivers’ glances for 20 seconds while Autopilot was active, and for 10 seconds after it was disengaged. The drivers were mainly in the greater Boston area.

The researchers found that when people drove on Autopilot, 22% of their glances at the center stack in the vehicle, the in-car multimedia touch-screen, or a smartphone in their lap lasted longer than two seconds. When Autopilot was turned off, this dropped to 4%.

“We found that driver behavior changes immediately after engaging Autopilot and it is maintained throughout the drive with Autopilot until drivers approached Autopilot disengagement,” the researchers wrote in the report, which was published in the October volume of Accident Analysis & Prevention and first reported on by Electrek.

MIT’s study comes as scrutiny intensifies of Tesla’s Autopilot, following a series of crashes while the feature was engaged. In August, the National Highway Traffic Safety Administration opened an investigation into incidents where Teslas on Autopilot collided with stopped emergency vehicles at first-responder scenes.

Last month, two senators called on the Federal Trade Commission to investigate Tesla’s “potentially deceptive and unfair” claims about both Autopilot and Tesla’s Full Self-Driving software, which is an enhanced version of Autopilot.

Read the original article on Business Insider

The 10 longest range electric vehicles you can buy in the US that aren’t Teslas

Hyundai Kona Electric
Hyundai Kona Electric.

  • Tesla’s four models can go farther on a full battery than any other electric vehicles.
  • But there are plenty of non-Tesla EVs that deliver solid EPA-rated range.
  • Ford, VW, Chevy, and Hyundai are the next best picks for range after Tesla.
  • See more stories on Insider’s business page.
10. Porsche Taycan – 227 miles

2021 Porsche Taycan._KL1
2021 Porsche Taycan.

Porsche’s first attempt at an all-electric car has turned out to be a smash hit, with the Taycan flying off of dealer lots. There are several Taycan models and two body styles to choose from, but the $103,800 Taycan 4S gets the best range of the bunch. 

9. Polestar 2 – 233 miles

2021 Polestar 2
2021 Polestar 2

The Polestar 2 is the first EV from Polestar, a new EV brand that spun out from Volvo. The 2021 model gets 233 miles of EPA range, but a future single-motor model due out in January is set to deliver upwards of 260 miles, according to the company.

A 2021 Polestar 2 starts at around $60,000, but the 2022 model will run you as little as $47,200. 

The Polestar 2 earned the title of Insider’s Car of the Year in 2020

8. Jaguar I-Pace – 234 miles

Jaguar I-Pace.
Jaguar I-Pace.

Jaguar’s squat little crossover starts at $70,000. The all-wheel-drive SUV delivers a whopping 394 horsepower and 512 pound-feet of torque, Jaguar says. It’ll hit 60 mph in 4.5 seconds, the company claims. 

7. Audi E-Tron GT – 238 miles

Audi E-Tron GT electric sedan.
2022 Audi E-Tron GT.

The E-Tron GT is Audi’s new electric sport sedan to take on the Tesla Model S and future EVs like the Mercedes-Benz EQS. It starts at around $100,000, and a high-performance RS version is available too. That one will run you $140,000. 

6. Kia Niro EV – 239 miles

Kia Niro EV
Kia Niro EV.

The base Kia Niro EV costs just over $39,000. There’s also a $44,650 Premium trim that gets you upgraded materials and features, but no more range. 

Check out Insider’s full review of the Niro EV here

5. Chevrolet Bolt EUV – 247 miles

EMBARGO 2/14/2022 4PM ET 2022 Chevrolet BoltEUV 010
2022 Chevrolet Bolt EUV.

Chevrolet broadened its EV lineup in 2021 by launching a crossover version of the Bolt EV called the Bolt EUV. That stands for Electric Utility Vehicle, in case you’re wondering. 

Despite having “utility” in its name, the $33,000 vehicle actually offers slightly less cargo space than the Bolt EV hatchback. It also has a skosh less range due to its higher ride height. 

There’s just one problem for potential Bolt EUV buyers: Amid GM’s massive recall of Bolt EVs with faulty batteries, the carmaker has halted production of the EUV until at least mid-October. 

4. Hyundai Kona Electric – 258 miles

2022 Hyundai Kona Electric.
2022 Hyundai Kona Electric.

Hyundai’s popular subcompact SUV has had a battery-powered sibling in the US since 2019. All trims deliver the full 258 miles of estimated range. A base 2022 Kona Electric will run you $34,000 to start, down more than $3,000 from the 2021 model. 

3. Chevrolet Bolt EV – 259 miles

EMBARGO 2/14/2022 4PM ET 2022 Chevrolet BoltEV 006
2022 Chevrolet Bolt EV.

Chevy gave the Bolt EV a sleek refresh for 2022, adding on slimmed-down LED headlights and a color-matched grille panel. The new Bolt offers the same range as its predecessor, but comes in thousands cheaper at $31,000.

However attractive a buy the Bolt EV may be, you may need to wait a while to get your hands on one. Chevy has halted production of the EV until it can secure more reliable battery packs. 

 

2. Volkswagen ID.4 Pro – 260 miles

2021 Volkswagen ID.4.
2021 Volkswagen ID.4.

The ID.4, VW’s first EV for the US market, gets up to 260 miles of EPA-rated range in the Pro trim, which starts at $39,995. The sold-out first-edition model can travel 250 miles on a full battery. 

1. Ford Mustang Mach-E – 305 miles

rear ford mach-e
Ford Mustang Mach-E.

Ford’s first electric SUV gets an impressive 305 miles of range in the California Route 1 trim, which retails for $50,400. The model comes standard with the Mach-E’s larger battery pack and rear-wheel drive. 

The $42,895 base model, the Mustang Mach-E Select, earns an EPA range rating of 230 miles.

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2 of Tesla’s most promising rivals are picking up steam

Rivian R1T
The Rivian R1T pickup.

  • Lucid and Rivian are two of the startups best suited to challenge Tesla.
  • They both seem to be hitting their stride.
  • Both companies are on the brink of delivering their first vehicles.
  • See more stories on Insider’s business page.

Tesla has dominated the US electric car market for years as the sole startup that’s managed to mass-produce EVs and keep the lights on. Today, Elon Musk’s automaker hardly qualifies as an startup anymore (it’s worth some $750 billion), but a growing number of new manufacturers think they can replicate Tesla’s success.

Two contenders have risen to the top of the heap as their years-long efforts finally start to pay off. Lucid Motors and Rivian have both been making strides as of late and are set to start delivering their debut vehicles in 2021.

Rivian, which is working on a pickup truck and a Range Rover-esque luxury SUV, announced Tuesday that its vehicles are certified for sale in all 50 states and that its first customer-ready R1T pickups rolled had rolled off the production line in Normal, Illinois. Rivian’s first saleable vehicle comes more than a decade after CEO RJ Scaringe founded the company in 2009.

Earlier in September, the Environmental Protection Agency rated Rivian’s SUV and pickup at an impressive 316 and 314 miles of range, respectively.

Lucid Air exterior_5
The Lucid Air.

Rivian plans to start shipping R1T Launch Edition trucks to preorder holders by the end of September, followed by its first R1S SUVs later this fall. It confidentially filed for an IPO in August and is aiming to go public around November, Bloomberg reported.

It’s reportedly seeking a valuation of roughly $80 billion, more than Ford or General Motors.

Lucid, for its part, recently made good on its longstanding promise to build the longest-range EV on the market. The EPA on Wednesday gave its debut vehicle – the Air Dream Edition R sedan – a range rating of 520 miles. It’s a staggering rating, and no production EV has even come close to delivering that sort of mileage between charge-ups.

The Tesla Model S, which has led the market in battery range for years, can travel 405 miles on a full battery, according to EPA estimates.

Lucid has already begun building preproduction cars at its factory in Arizona and says it will start shipping the $169,000 Air Dream Edition to preorder holders later in 2021. The company is taking a page out of Tesla’s playbook by starting with a super-premium vehicle and working toward more affordable offerings, including a $77,400 base model of the Air and a small SUV called the Gravity.

Some on Wall Street are optimistic about Lucid’s potential to challenge Tesla and legacy automakers alike. In a Wednesday note to investors, Bank of America analysts called Lucid potentially the next Tesla or Ferrari, noting that it is “a relative competitive threat to the universe of incumbent automakers, with innovative technology, attractive product, compelling brand, clean sheet manufacturing approach, and impressive management experience.”

Shares of Lucid have risen 18.5% since Wednesday, and are up some 130% year-to-date.

Still, mass-producing cars is a notoriously tricky and expensive business. And just because Lucid and Rivian are able to start delivering vehicles to customers, that doesn’t necessarily mean they’ll be able to do it for long. Tesla famously had numerous brushes with failure and financial disaster on its way to the top.

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