Tesla Inc. is well-known as the world’s No. 1 electric vehicle company. Led by Elon Musk, it has a reputation for producing fast, luxurious, tech-advanced vehicles. But it's not the only game in town.
Top competitors include companies like Volkswagen, General Motors Co. and BYD Co. Ltd. There's also a startup — Luvly — hoping to transform how people buy and use electric vehicles (EVs).
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Luvly Is The ‘Anti-Tesla'
In many ways, Luvly is everything that Tesla isn't. Its vehicles are built primarily for urban environments, and its unique flat-pack design helps reduce shipping costs and emissions. Tesla doesn't claim to be either of those things.
Founded in 2015 and drawing inspiration from Ikea's business model, Luvly is set to launch its first model, the Luvly O, in the second half of 2023.
The startup’s vision hinges on mitigating the detrimental impacts of conventional vehicles, such as environmental harm, high costs, potential danger to pedestrians and space inefficiency. By leveraging modern technology and futuristic design, Luvly intends to address these issues.
The Luvly O is priced at approximately $10,700 (10,000 euros), making it a relatively affordable EV option — especially when compared to what's currently on the market. The car boasts a top speed of about 56 mph and provides a range of approximately 60 miles. It features removable batteries, enabling owners to replace them with fully charged ones, thereby bypassing the need for lengthy charging sessions at home or on the road.
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With a size comparable to a smart car, the Luvly O is designed to facilitate easy parking, especially in tight urban spaces. Looking ahead, Luvly plans to expand its offerings by introducing more models designed for city living.
It's safe to assume that Luvly and Tesla aren't chasing after the same audience with their vehicles. Luvly hopes to grab market share through an affordable pricing structure, removable batteries and a size that makes it a more desirable option for crowded urban environments. It's a niche that's ripe for the taking.
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