Tesla is still the biggest name in premium electric vehicles, but the company now has so much competition from high-end rivals that it has lowered its prices several times on several models just to keep wealthy buyers in Elon Musk’s orbit.
“While Tesla remains a popular choice among the elite, the luxury EV arena is expanding rapidly,” said Patryk Doornebos, owner of the online automotive community Car Triple. “The rise of models like the Lucid Air and Porsche Taycan, among others, showcases a harmonious blend of performance, luxury and sustainability.”
That blend is now in such high demand that the choicest luxury EVs have become must-have status symbols for the rich.
“These models are not merely vehicles, but statements of luxury, innovation and a forward-thinking ethos, quintessentially portraying the wealthy’s evolving tastes in the automotive realm,” said luxury automotive writer Gareth Boyd, editor of Range Rover Fanatic. “Through the lens of exclusivity and sustainability, they represent not just a mode of transport, but an ideology, merging the opulent with the eco-friendly.”
- Starting MSRP: $89,990
Tesla began delivery of the Plaid upgrade to its long-running Model S in June 2021, and the three-motor sedan quickly became a favorite among wealthy buyers enamored with its futuristic engineering, premium luxury and record-breaking speed.
“The Tesla Model S Plaid, with its top speed of 200 mph and ability to sprint from 0 to 60 mph in under 2 seconds, stands as a hallmark of both performance and prestige,” Boyd said. “Its minimalist yet luxurious interior, coupled with the brand’s trailblazing Autopilot technology, continues to appeal to the wealthy who fancy a blend of innovation and style.”
- Starting MSRP: $82,400
In the world of electric vehicles, the name Lucid doesn’t ring out like Tesla, but the emerging brand’s commitment to luxury, performance and distance already has won over a loyal following of upscale drivers.
“The Lucid Air — a newcomer, yet a fierce competitor — is carving a niche with its elegant design and a remarkable range of up to 520 miles on a single charge, the longest any EV has offered to date,” Boyd said.
Boyd refers to the Grand Touring package, the most expensive and impressive of three available Lucid Air options. The 1,060-horsepower Grand Touring starts at $125,600. Its battery did achieve 520 miles in 2021, but Lucid currently rates its range at a still astonishing 516 miles.
“The spacious and meticulously crafted interior, boasting features like a 34-inch Glass Cockpit 5K display that floats above the dashboard, captivates those with a taste for refined aesthetics.”
- Starting MSRP: $104,400
Few names in the automotive universe are as synonymous with luxury and status as Mercedes-Benz — and its flagship line of electric sedans carries the nameplate’s mantle of premium materials, precision performance and lavish style.
“The Mercedes-Benz EQS takes opulence a notch higher with its HEPA filtration system, ensuring a pristine cabin environment,” Boyd said, “and the Hyperscreen, a 56-inch curved glass instrument panel that spans the entire dashboard, taking infotainment and control to a futuristic level.”
- Starting MSRP: $90,900
The most elite name in sports car history has gone electric, but it ditched the engine without sacrificing its trademark style — the 402-horsepower Taycan EV has the unmistakable and instantly recognizable curves of a classic Porsche.
“The Porsche Taycan, with its heritage sports car silhouette infused with modern electric vehicle technology, resonates with enthusiasts who seek a thrilling yet eco-conscious drive,” Boyd said.
The most premium package, the Tycan Turbo S Cross Turismo, starts at $197,500, generates 750 horsepower and can do 0-60 mph in 2.7 seconds.
- Starting MSRP: $73,000
Everyone with a driver’s license knows the names Mercedes, Porsche and Tesla, but a lack of familiarity doesn’t always indicate a lack of prestige — and the rich are flocking to one of the hottest new names in EVs.
“One that hasn’t been talked about as frequently as those mainstream luxury EVs, but equally compelling, is the Rivian R1T,” said Jason Farrell, a certified master technician with Mechanic’s Diary. “This isn’t your conventional luxury sedan or SUV. It’s a luxury electric pickup and is making waves in its own right.
“Why do rich people invest in it? Beyond the apparent charm of an EV’s environmental benefits, the Rivian R1T promises adventure. Its quad-motor system can wade through water, climb rough terrains and still provide the interior comforts of a high-end car. It’s a blend of sustainability, luxury and ruggedness. It’s sleek yet robust, and features like the gear tunnel storage and the pull-out kitchen set it apart.
“For the wealthy, especially those seeking something different from the usual luxury brands, it provides a fresh narrative.”
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