Audi’s New Electric SUV Brings Competition to Tesla’s Door
When you're choosing between various stocks in online stock trading, you need to analyze their future potential and the movement of their competitors.
Tesla Has Led the Electric Car Charge
Tesla ($TSLA) isn't the only electric car maker riding the waves of the recent energy efficiency obsession in the automobile market. It might have been the only well-known name in the industry that has been innovating as well as marketing electric vehicles. But we have been hearing about conventional automakers experimenting on, and developing, the required technologies.
Tesla had certainly got the major head start and had launched a slew of models, but costs had been a prohibitive factor which led to the company eventually launching the more affordable Model 3. Its Model S has been classified as the fastest selling secondhand electric automobile in the United States. Tesla also has the Model X electric SUV in its model range.
The Volkswagen Group Is Now in the Fray
But now the conventional auto manufacturers are catching up. Volkswagen Group's ($VKLAY) Audi has now launched an all-electric SUV, the e-tron. And it did it at Tesla's backyard. Audi is a well-known brand, and that factor can help it gain a foothold in the electric automobile market. And there's another ace up the company's sleeve too.
It is also offering home-based charging systems for buyers of the SUV. The company has tied up with Amazon.com ($AMZN) to deliver the charging hardware to customers and send technicians to install them as part of Amazon Home Services. Tesla now provides wall connectors for consumers to charge its electric vehicles at home. They come at a list price of $500, while Tesla says it will take care of their installation too.
The Audi e-tron SUV will be priced at $75,795 - before the $7,500 tax credit is applied - when it goes on sale in the US next year. This midsize SUV is just one of many electric vehicles that are set to be launched by Audi parent Volkswagen AG. That's not all - more such premium German and European brands, such as BMW, Mercedes-Benz, Jaguar Land Rover and Volvo, are set to launch electric models pretty soon.
Competition in the Charging Station Industry
Tesla has its own Supercharger charging station network in North America containing over 11,000 chargers. Volkswagen, Audi's parent group, doesn't want to get left out of this too. It is funding Electrify America to launch public charging station installations next year. The plan is to get 2,000 chargers installed next year by the middle of June. And Electrify America's charging stations can be used for any brand of vehicle, not just Volkswagen Group vehicles.
The competition is heating up. Suddenly, the electric car market seems one exciting investing destination. Gauging stocks and markets requires experience, but advanced and user-friendly free trading software can also help in giving you the right perspective in online stock trading. TradeZero gives you that and more. Contact us at +1 954-944-3885. You can also email us at email@example.com.
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