Electric-Vehicle Race Heats Up as Detroit Makes Its Move
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GM, Ford and Chrysler-owned Stellantis look to close gap versus startups
Auto executives have spent the past few years talking up their ambitions, allocating billions of dollars in new investment to add more electrics to their global lineups. But so far, the transition has mostly taken place behind the scenes with engineers and designers readying the next generation of vehicles.
In the coming year, car buyers will start to see those efforts show up more on dealership lots. Auto makers plan to launch dozens of new electric models over the next two years in a range of different styles and at varying price points, according to analysts at Bank of America.
The arrival of these EVs shifts the pressure on car companies from developing them to convincing consumers to buy them.
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