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Tesla Challenges with Model Y
What Exciting New EV Models Are on the Horizon?
Tesla has become a household name in the electric vehicle (EV) sector, wielding significant influence with its 50% market share. Among its lineup, the Model Y stands out as Tesla’s best-selling vehicle, far surpassing competitors and solidifying the company’s leadership in the market.
However, as Tesla maintains its dominance with the Model Y, other automakers are stepping up to challenge its supremacy. Several new mid-size electric SUVs are set to enter the fray, aiming to disrupt Tesla’s stronghold and reshape the market dynamics. Here’s a look at three upcoming models poised to rival Tesla and potentially alter the competitive landscape.
What Features Make Rivian R2 the Biggest Rival to Model Y?
The R2 is considered to be Rivian’s most important model. This model is regarded as a strong competitor to Model Y, and since it is scheduled to be produced in 2027, there are high expectations, as it can observe the market situation for a long time. The base price is expected to be around $45,000.
In addition to its reasonable price, the R2 is said to offer a range of over 482 km (300 miles). It will also come with some features not seen on the Model Y, such as a rooftop tent option with a heated mattress and single, dual, and triple motor configurations. The triple motor will showcase the technology to reach 0-100 km/h (62 mph) in less than 3 seconds. However, its price and range are disappointing compared to competing models.
What Can We Expect from the Swedish-Inspired Mid-Size SUV, Volvo EX60?
Details about the upcoming Volvo EX60 remain limited, but the model’s development aligns with the company’s broader strategy to transition its lineup to EVs by 2030. The EX60 will be an electric counterpart to the XC60, slotting between the EX30 and EX90 in Volvo’s range. It is anticipated to be priced around $51,408, placing it between the two other models.
Volvo reportedly works to lower production costs by adopting a casting method similar to Tesla’s. In terms of performance, the EX60 is expected to feature a dual-motor setup, likely delivering 422 horsepower and 55.3 kg.m of torque, mirroring the specifications of the EX30. However, improvements to the battery pack will be necessary, as the current configuration offers a driving range of 442 km (275 miles).
Can the New EV Company Lucid Compete with Model Y?
Lucid, which emerged as a notable player in the EV market alongside Rivian, is also set to introduce a mid-size SUV. Following the acclaim received by its flagship sedan, the Lucid Air, and the highly anticipated Gravity large SUV, all eyes are now on the forthcoming Earth model, which aims to compete directly with the Tesla Model Y.
Slated for production after 2028, the Earth is projected to be priced around $49,340. Its performance is expected to be competitive with that of the Model Y. However, given the time frame, the Earth’s performance and pricing may evolve, and its market competitiveness will become clearer as more information is released.
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