Electrification, ride-sharing, urban mobility solutions.
Take your pick from the myriad of trends staring the local automotive industry in the face as incumbent automakers are pitted against a new crop of startups—some flush with cash—looking to nab a slice of the market share.
As the industry moves quickly to meet the National Highway Traffic Safety Administration’s 2025 Corporate Average Fuel Economy standards (54.5 miles per gallon), electrification is top of mind.
In Orange County, Karma Automotive LLC is still on track to bring to market its all-electric platform, which is supposed to become the backbone for several new vehicle models moving forward. Kia Motors America Inc. President Michael Cole hinted at some announcements in the coming years, telling the Business Journal at the LA Auto Show, “We’re continually looking at how we evolve our electrification” and ’21 through ’23 would be the years when news on that front rolls out. Rivian Automotive LLC, headquartered in Michigan and with sizeable operations in Irvine, is expected to begin production on its electric truck and SUV in the back half of 2020. The automaker is backed by nearly $2 billion from Cox Automotive Inc., Ford Motor Co. and Amazon.com.
The electric race is happening as the industry sees behavioral shifts among consumers in how and what they ride to get around. Ride-sharing and subscription services are being considered by some automakers. Others, such as the parent to Kia and Fountain Valley-based Hyundai Motor America Inc., are testing autonomous ride-sharing with the BotRide service in Irvine.
