EV: the new status symbol?
For the past two years, I have been critical of the push for electric vehicles (EVs) for the American people.
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The evidence is solid that the infrastructure is not in place, the cost is higher than everyday people can afford, and most of the U.S. population does not want them.
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However, my research has shown that the EV market has found a niche and is becoming a status symbol.
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Here is what I mean.
Audi has introduced the all-electric RS E-Tron GT Performance for 2025. The most powerful production car will offer three models: the S E-Tron GT, the RS E-Tron GT, and the RS E-Tron GT Performance.
$110,000-$180,000.
The interior will resemble the RS Tron GT, with a few changes, which are:
·?????? A squared-off steering wheel
·?????? Better seats
·?????? Updated graphics
The E-Tron GT Performance offers upgrades like:
·?????? A smart glass roof
·?????? 21-inch six-spoke forged wheels
·?????? A Bedford green finish
BMW i7 is the EV entry of BMW's 7 Series.
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·?????? Glass (touch-screen) controls
·?????? Sky Lounge LED Panoramic roof
·?????? Merino Leather rear seating
·?????? Front and rear seating heat and massage, and ventilation
·?????? Available 31inch BMW Theater Screen
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$105,700
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Genesis Electrified G80 is Hyundai's luxury brand's EV choice.
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·?????? Intelligently connected cabin creates an immersive experience for drivers and passengers.
·?????? A 365 Horsepower, 516 lb.-ft. of torque and a dual-motor
·?????? AWD (All Wheel Drive) system powering
·?????? A suite of features that constantly monitors and processes your driving data in real-time
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$81,000
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With its EV addition, the Mercedes EQS boasts a 450-mile range. The S-class design is enhanced by an ovoid-shaped (egg-shaped) body and electric powertrain.
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·?????? The shape optimizes?space,?comfort, and aerodynamics
· Ever-advancing technology that can tell who's speaking. It listens and can tell who's speaking. Learns your face and fingerprint. It?
·?????? Adapts to you, attends to, and anticipates your desires?like no other EV.
·?????? Virtually endless play from numerous online music services seamlessly integrated
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$105,500
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Maserati is on board with its 2025 Grecale Folgore (Italian for lightning), which will go from zero to 60 mph in 3.9 seconds.
$100,000 to $145,000.
The Grecale Folgore's overall design is the same as the Gran Turismo, with subtle differences.
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*A unique grille treatment
*stylish Folgore-specific wheel designs
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The dual electric motor powertrain delivers 550 horsepower with an approximate range between charges of 250 miles.
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Rolls Royce Spectre
·?????? Spectre positions Rolls-Royce's entrance into the electric world as a stamp of leadership — and the beginning of an era that will see the entire model portfolio electrified by 2030.
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·?????? SPIRIT is the digital extension of the Rolls-Royce Architecture of Luxury, setting a new precedent for marrying technology and luxury with automotive excellence.
$446,375
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Are EVs a status symbol?
I have pointed out that EV sales have a niche market, and the evidence suggests it is high-income millennial (born 1980-1994) earners.
Green Car Stocks says wealthy millennials in the U.S. see EV ownership as a status symbol. A recent Gallop poll supports this claim, stating that among upper-income Americans, EV sales were up 14% in Q3 (third quarter) 2024.
In the U.S., EV sales reached 8.9% in Q3 2024, representing a new high.
A J.D. Power survey shows that 72% of millennials are interested in purchasing an EV, and 37% are highly likely to do so.
Why it matters
It matters because humanity is changing on a fundamental level. Our way of life is increasingly digital, which means it is increasingly electric. It stands to reason that our method of transportation will become electric.
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My gripe with how the U.S. government approaches the change has little to do with positioning the American people for change. It has (almost) everything to do with padding their pockets and ensuring their future.
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The proper approach to promoting the change to electric vehicles is to build the infrastructure before promoting the product. This does not mean the infrastructure is complete before the product is introduced, but it must be in place to the point that people see the option as viable.
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Fossil fuels will not disappear for many reasons, but EVs will play an increasingly significant role in humanity's transportation.
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Change is here, and in the EV ecosystem, much change needs to take place before transportation reaches mainstream adoption.
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For example, the basic concerns about EV transportation are cost and mobility.
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As with everything, the costs will (eventually) come down, but mobility remains a significant concern.
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Will I find a charging station if I can only drive 200-300 miles before I have to plug in?
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If I have a family of six, will I be forced to take two vehicles when I leave the house?
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If a natural disaster or terrorist attack shuts down power, how will I travel?
Until these issues (and others) are satisfactorily addressed, EV ownership will be limited to upper-income people who use it as a status symbol rather than everyday transportation.
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How it impacts everyday people
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My focus is helping everyday people find financial freedom through the Cryptoverse. However, just as crypto is a change agent for the financial arena, EVs represent a change agent for how humanity travels.
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People will undoubtedly own an EV one day.
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It is a potential reality that everyday people can benefit from it.
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Education is critical, and intelligent investing is paramount for everyday people to navigate these bumpy roads.
The thought of change often scares everyday people back into old, comfortable living patterns. There is nothing comfortable about being uncomfortable.
However, IF change is to occur, you must weigh the length of your uncomfortableness against the lifetime of enjoyment.
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In other words, is it worth the temporary discomfort to avoid a lifetime of complacency and lack?
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If your answer is YES, you can follow along and learn how to make a change by being educated in the cryptoverse.