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Heavy- and medium-duty trucks are one of the hottest segments of the electric vehicle industry today. Both legacy manufacturers and start-ups are scrambling to develop battery-powered machines. Vehicles are slowly starting to roll off assembly lines, but this new class of truck is expected to dominate the market within the next 15 years.
The current paradigm of car manufacturing, which provides a variety of models, colors and options, is called mass customization. However, mass customization is now transforming into mass individualization. In mass individualization, products are uniquely catered to consumers’ desires. For example, some car buyers may want to replace ordinary car seats with luxury brands, such as Louis Vuitton, to differentiate themselves.
COVINGTON, GA—Archer Aviation Inc. will invest $118 million over the next 10 years to build a new assembly plant here to produce an electric vertical takeoff and landing aircraft (eVTOL).