With more car manufacturers stepping up to the plate with their own electric vehicle models, stock prices on EVs are skyrocketing. This past year, there have been a lot of investors in the EV market and 2022 will soon show if companies like Rivian and Lucid Motors will be able to keep customers happy. Both companies combined value at $150 billion in stock but has not reached their revenue goals. Lots of other companies are putting out designs to fit the new electric vehicle landscape. Harley-Davidson announced they will be introducing electric motorcycles. The most popular electric vehicle company so far is a Tesla who had their market cap peak at $1.2 trillion last month.
The next step for the car companies is to see who can convert their investments into meaningful products. They will have to adjust their supply chain and manufacturing to be able to keep up with the increased scale of EVs being purchased and keep their customers happy. Its crucial that they keep with the pre-orders of vehicles and be able to deliver to their customers.
Lots of corporations are working with various car companies to make their businesses more environmentally friendly. Jeff Bezos made pledges that Amazon would be taking steps towards going green. One of their methods is by transitioning into electric fleet. Rivian made the agreement with Amazon for Rivian to provide 100,000 electric vans that will be distributed over the next year.