Part 9/10:
Despite Tesla's stronghold, traditional automakers are actively ramping up EV offerings. Volkswagen, for instance, plans to manufacture 25 EV models in the US by 2030, qualifying for lucrative tax credits. Meanwhile, BMW reported a slight decline in unit sales but expects overall sales to increase by year-end, suggesting a cautious optimism.
Tesla’s competitors like General Motors are investing heavily in lithium mining and battery technologies, aiming to control supply chains and reduce costs. Volkswagen's EV ambitions illustrate the escalating competition, emphasizing the importance of innovation and market share in the EV boom.