Over the past few years on Invstr Crunch, we’ve analyzed the EV markets often and broke down who could be winning the growing competition. Since then, the industry has made it through a full pandemic, a semi-conductor shortage, more global affairs, and now a war threatening more minerals key to the production of the batteries in the cars.
Despite increasing competition and supply of electric vehicles, demand has seen a strong trend of growth with iShares Self-Driving EV and Tech ETF climbing rapidly and finding a foothold in the market. But who’s winning this high-tech race? Well so far Tesla has a head start, but overseas competition is stiff and is catching up. China has seen a rise in its EV stocks such as Nio (NIO) and XPeng (XPEV) and more. In the US competition is also heating up constantly with the most recent addition to the lot being Cadillac’s GM. The brand is currently working on its own electric vehicle (EV) SUV called the “LYRIQ,” which will go into production next week, on March 21, at its newly reconfigured plant in Spring Hill, Tennessee. A few months from now as we roll into summer the automaker will begin delivering the cars to customers, with the all-wheel version being delivered in 2023. Looking at specific stats, the LYRIQ will see around 25,000 units produced with a 100-kWh battery, giving it “more than 300 miles” range. With a starting price right under $60,000. The LYRIQ is priced to compete with Tesla’s Model Y, which now starts at $63,000 after recent price hikes. What do you think about Cadillac’s entry into the EV competition? And do they stand a chance at keeping up?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.