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ELECTRIC VEHICLES Which EV makers are best-positioned and why?
Over the span of the last ten years, electric vehicles have transformed from something of a novelty into a viable automotive market segment. As we look ahead to a new decade, the market leaders in this category are sure to change.
A decade ago, electric vehicles (EVs) were just becoming established as legitimate devices for individual transportation. But their costs were frustratingly high, their range was limited, and a lack of charging stations made them more of a novelty than an everyday sighting. Flash forward by a few years, however, this began to change.
EV maker Tesla, founded in 2003, delivered its first vehicle, the Roadster, in 2008. Priced at USD110,000, the Roadster was a sports car made all the more exotic by its electric powertrain, which was nearly unheard of in its automotive category at the time it made its appearance. While the Roadster received a lot of press, its high price and slow production process meant that just 2,450 of the cars ended up being built. In 2010, Tesla purchased its first vehicle factory, in Fremont, California, and nearly simultaneously went public on the NASDAQ stock exchange, becoming the first American automaker to sell shares of itself on the open market since Ford Motor Company in 1956.