[ad_1]
Scout Motors, backed by Volkswagen, unveiled its first electric vehicles and announced plans to expand its lineup to include plug-in hybrid electric vehicles. The company, known for its former American vehicle brand from 1961 to 1980, initially focused on offering only EVs but later decided to include extended-range electric vehicles (EREVs) due to slow EV adoption and higher costs.
EREVs are a type of plug-in hybrid electric vehicle that combine EV motors and battery cells with a traditional internal combustion engine to power the electric components when the battery loses energy. Scout CEO Scott Keogh stated that adding EREVs was a strategic move to offer a backup plan amid the fluctuating consumer demand for EVs.
Scout’s first vehicles, a full-size pickup truck and large SUV, are set to cover 40% of the U.S. sales market and are projected to be profitable within the first year of production. The company plans to produce the vehicles at a $2 billion plant in South Carolina.
The SUV, called the Traveler, and the pickup truck, named Terra, are expected to have a starting price of $50,000 to $60,000 with incentives. The EREV models will offer more than 500 miles of range compared to the 300 miles of the all-electric versions. The vehicles will feature modern designs with large screens and premium materials in the interiors.
Scout aims to compete with traditional off-road SUVs and full-size pickups from established automakers. The company plans to use the North American Charging Standard for its vehicles and offer bi-directional charging capabilities.
Despite the challenges in the electric truck market, Scout is confident in its ability to differentiate itself with competitive pricing, unique products, and brand appeal. Additional products are expected to be introduced in the future to further expand the company’s lineup.
[ad_2]
SOURCE
Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.