Read The Full Article On: Marketrealist
Established automakers have increased their focus on EVs. Last week, Porsche launched the Taycan, which reportedly has 30,000 pre-orders. Furthermore, Volkswagen has also fully sold the 30,000 units of its limited-edition ID.3. And General Motors (GM) announced last month that the Chevy Bolt 2020 would have a range of 259 miles, slightly higher than the Tesla (TSLA) Model 3’s standard range. However, it’s worth noting that sales of Chevy Bolt’s previous versions haven’t been remarkable.
The movement toward EVs isn’t surprising. TSLA has forced automakers to rethink their business plans, and consumers are shifting toward EVs. However, EVs might not be profitable for automakers, as demonstrated by Tesla. The company’s frustrating losses have provided fodder to bears
Read The Full Article On: Marketrealist