Five EV Models the Affluent Have Been Buying

October 5, 2023 11:48:16

After nearly a decade of dominating the electric vehicle industry, Western automakers are pushing back against Tesla’s dominance in the high-end EV segment. Patryk Doornebos from Car Triple notes that although Tesla is still a go-to option for drivers interested in high-end electric cars, the segment has seen the introduction of pricey EV models from companies such as Lucid and Porsche, which are giving Tesla a run for its money.

The Tesla Model S was crowned the best-selling luxury sedan in the United States in 2016 and has enjoyed plenty of demand from affluent consumers since. Tesla began deliveries of the Model S Plaid in mid-2021 at a starting price of $89,990. The Tesla Model S Plaid can accelerate from 0 to 60 miles per hour in just under two seconds and boasts a top speed of 200 miles per hour.

Its luxurious yet minimalist interior design coupled with futuristic engineering, a powerful engine and industry-leading autopilot technology make the Model S Plaid an attractive purchase for affluent drivers.

The Mercedes-Benz EQS takes luxury to another level with a top-notch HEPA filtration system that keeps the interior environment pristine, a 56-inch curved hyperscreen along the entire dashboard, and a futuristic infotainment and control system. With a starting price of $104,400, the Mercedes-Benz EQS has a 478-mile range, a top speed of 130 miles per hour, and can accelerate from 0 to 60 miles per hour in 5.5 seconds.

Lucid Air is Lucid Motors’ entry into the luxury electric vehicle segment. It has a starting price of $89,050, and the entry-level models come equipped with a single electric motor capable of generating up to 1,111 horsepower and a 112 kWh battery pack with fast-charging capabilities. The Lucid Air has a range of 520 miles on a single charge and features a spacious interior cabin with a next-generation, 34-inch 5k display that floats over the dashboard.

The Rivian R1T is Rivian’s attempt to break into America’s massive market for pickup trucks. It is a high-end, fully electric pickup truck with a $73,000 starting price, as much as 835 horsepower, and up to 352 miles on a single charge. Unlike other luxury EVs, the Rivian R1T grants affluent drivers the opportunity to enjoy off road adventures in their electric cars. Although it isn’t equipped with Android Auto or Apple CarPlay, the R1T’s off-road capabilities more than make up for this deficiency.

The Porsche Taycan is a fully electric luxury sports car with a starting price of $90,900. It combines Porsche’s classic aesthetic with powerful acceleration and a range of up to 246 miles on a single charge. The premium Tycan Turbo S Class Turismo has a $187,500 starting price and can accelerate from 0 to 60 miles per hour in only 2.7 seconds.

While many companies jostle to grab market share in the luxury EV segment, many other startups such as Cenntro Electric Group Ltd. (NASDAQ: CENN) are looking to dominate the commercial electric vehicle market, which could be more lucrative as there is currently no race to the bottom in terms of price.

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