Since the emergence of Tesla, the electric vehicle market has blossomed.
Entrepreneurs around the world have examined the Tesla example and decided to create their own new electric vehicle. The idea was simple enough: throw some batteries below the seats, put in a powerful motor or four, design a rakish exterior and elegant interior, and people will flock to your product with wads of cash in their hands.
Upon closer examination, it took Tesla more than a decade to turn an annual profit after spending billions of dollars to get there and having throngs of buyers willing to pay upwards of US$100,000 (£82,300) per vehicle.
Just like in the “wild west” days of the automotive industry a century prior, many will enter and few will succeed.
