In the last two years, consumer purchase consideration for an electric vehicle has increased by 24 percent, according to a McKinsey & Co. report. And judging by the number of these vehicles in automakers' pipelines, consumers will have plenty of options.
General Motors and Volkswagen Group dealers will see their showrooms begin to fill with electric vehicles in the coming months. Volkswagen is spending $37 billion on BEVs — $12 billion of which is dedicated to grow VW's EV sales to 1 million a year by 2023. Volkswagen's ID4, aimed at the Nissan Leaf, arrives in the first quarter of 2021.
GM is investing $27 billion in BEVs and is launching 30 battery-powered vehicles by 2025, 20 of which will be sold in North America. They include the electric Hummer, several Cadillacs, a revamped Chevrolet Bolt and more.