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Success and Leadership

These Are The Top Luxury EVs To Watch Out For This Year

2022 Mercedes-Benz EQS Sedan

Last year was perhaps one of the most pivotal years in the electric vehicle (EV) market, as buyer demand gradually increased, and a growing number of old and new automakers entered the race to lead the industry into the next generation. 

With governments around the world introducing a slew of new environmental reforms and tightening emission norms, electric cars are expected to become the next big thing in sustainability. 

The International Energy Agency predicts that electric vehicles, both battery-operated and hybrid-powered will represent 60% of all cars on the roads by the end of the decade. Similarly in the United States, where the Biden Administration has been toiling to build more charging infrastructure and introduce new tax reforms for EV drivers, the number of electric cars sold in the first half of 2022 jumped by 49%

With the EV trend growing, and internal combustion engines reaching the end of the line – even California has vowed to make the sale of gas-powered cars illegal by 2035 – the future of both luxury vehicles is looking to become increasingly electric. 

While prices for electric cars have been ticking upwards due to red-hot inflation, aggressive interest rate hikes, supply chain concerns, labor worries, and a shortage of critical components, experts suggest that by 2030, the luxury electric vehicle market is projected to be worth more than $823 billion. In 2020, that value was just over $163 billion. 

The number of new models coming to dealerships is seeing stratospheric growth, with nearly every major automaker now investing billions to design and manufacture their own electric vehicle. 

Yet, automakers and well-known car brands are not only being supported by governments with tax and other industry-related incentives but are rather leaping into a growing market of opportunity. 

As interest swells and more motorists are keen to make the shift to greener and more sustainable options, affluent buyers can expect to see some weird, wonderful, bold, and extravagant luxury vehicles being showcased this year. 

The Top Luxury EVs To Watch Out For This Year 

For a bit more than the average price, buyers who are willing to splurge on the next generation of motoring will not only enjoy luxury at its finest but also at its greenest. 

The most recent data as of January 2023 shows that the average price for an electric car was $65,041 per sticker price. Prices for EVs are about 33% higher than normal cars, but motorists aren’t paying for just any new car, they’re paying for the future of innovation in the automotive industry. 

In no particular order or ranking, here’s a look at some of the most prominent luxury battery-powered cars that will hit the roads in 2023. 

  1. 2022 Mercedes-Benz EQS Sedan
    For anything between $104,400 – $147,500, the 2022 Mercedes EQS Sedan has an all-electric driving range of roughly 350 miles and comes with all the classic Benz bells and whistles we’ve come to know and love over the decades.

    The 5-seater sedan has considerable performance for such a robust car, that boasts a luxury interior and an extra-large cargo hold. Drivers will have a nearly endless choice of infotainment and tech options with the touch of a button. The car comes with above-average road performance and acceleration, and has been equipped with some of the latest Mercedes-Benz technology money has to offer.

  2. 2023 BMW iX1
    Well priced below the $100,000 threshold, the iX1 has a sticker price of roughly $82,900 and will be the replacement of the once–loved i3, considered to be BMW’s entry-level EV.

    The German automaker has been investing a lot of time, effort, and money into developing an all-electric EV that has both the performance and luxury that the brand has come to be known for.

    For such a bulky car, the iX1 has a driving range of 272 miles on a full charge, and DC charging can help improve the battery level from 10 to 80 percent in 29 minutes. Additionally, the DC charge will also help increase the range by another 75 miles in ten minutes, so it’s perhaps worth noting when shopping around.

  3. Rolls-Royce Spectre
    Back in October 2022, Rolls-Royce, a subsidiary of the BMW Group announced the release of the Spectre, the first fully-electric Rolls-Royce.

    The Spectre is not necessarily a fresh take on traditional Rolls-Royce architecture, but it is one of the few electric cars that has been designed fully from the ground up. The newly designed aluminum chassis has made the Spectre one of the most aerodynamic Rolls-Royce produced to date. The car has an outstanding 300-plus mile range, not bad for a car that weighs nearly three tons.

    Torsten Müller-Ötvös, Chief Executive Officer, Rolls-Royce Motor Cars said in the announcement last year, “This is the start of a bold new chapter for our marque, our extraordinary clients, and the luxury industry. For this reason, I believe Spectre is the most perfect product that Rolls-Royce has ever produced.” It’s truly a remarkable piece of luxury engineering with the first deliveries expected in the first half of the year.

  4. 2022 Audi e-Tron GT
    While initially thought Audi would release a first batch of smaller, and more economical all-electric cars, the automaker surprised enthusiasts and buyers with the introduction of its e-Tron GT, a fully electric sedan with a starting price of $104,900.

    The athletic-looking car comes with incredible design and build, and has been reworked to give the best in-car user experience. On performance, the car has a 236-mile range and can charge from 5% to 80% in 22 and a half minutes at a public DC fast charger. With 522 horsepower, a 93 kWh battery, and zero-to-60 mph acceleration in 3.9 seconds, motorists are in for a luxury experience bespoke to the German automaker.

  5. Lucid Sapphire
    The California-based Lucid Group managed to beat expectations last year, producing a total of 7,180 electric vehicles, beating the guidance range it posted in August 2022.

    Now, this year, the EV automaker is looking to give the market its own luxury stamp with the impressive-looking Sapphire, priced at $249,000. Perhaps a more pricer option on our list, the Sapphire is equipped with carbon-ceramic brakes and track-tuned suspension for a more sporty feel to a car that weighs nearly three tons.

    With more than 1,200 horsepower, zero-to-60 mph acceleration in under two seconds, and to 100 in less than four seconds, this is perhaps as the company explained it “the pinnacle of electric performance.” The onboard experience will be nothing short of exceptional, as Lucid Group has honed itself at being a master of sophisticated EV design.

  6. DeLorean Alpha5
    After more than four decades, the long-awaited release of DeLorean’s first car since Back to the Future aired has arrived – and it’s fully electric. The Alpha5 looks similar to its film-star predecessor, the DMC, but this time around engineers went for a smoother, sleeker, and retro look.

    The Alpha5 has a zero-to-60 acceleration of under three seconds, and an estimated zero-to-88 mph in 4.35 seconds. The company claims that it has a 300 miles range, but we’re not sure whether these claims have been backed by an EPA-estimated range. With a top speed of 155 mph, lovers of the past and the future will be transported to a new generation of electric driving.

  7. 2023 Porsche Taycan
    It looks like a Porsche, and it drives like a Porsche. Trusted craftsmanship and ingenuity combine forces with the 2023 Porsche Taycan, a fully-electric Porsche with 402 horsepower for a single-rear-motor base model and 750 horsepower for the Turbo S.

    The starting sticker price is $88,150 for buyers who want to have all the luxuries Porsche has to offer, only in an electric form. The slim design is a classic take on Porsche architecture, but underneath the car offers an estimated EPA range of 246 miles, a charge rate of up to 370 kWh at a public DC fast charger, and accelerates from zero-to-60 in 2.6 seconds using Launch Control, with a top speed of 161 mph.

    While the car has a compact design and provides the necessities for any low-maintenance car owner, it, unfortunately, does not compare to other EVs in the range category. Tesla Model S and Lucid Air both offer better mile coverage for a better sticker price. Yet, in this case, it’s important to remember that you’re still buying a Porsche, perhaps one of the most trusted sports and luxury cars on the road.

  8. Polestar 3
    Big, bulky, and sport are all of the things you think of when you look at the Polestar 3, an impressive EV with a 379-mile range and rapid DC charging of 350 kWh that will boost battery percentage from 10 to 80 in just 30 minutes.

    The Polestar 3 is a luxury SUV that comes with 510 horsepower, zero-to-62 mph in 4.7 seconds, and a top speed of 130 mph. The car has a Performance Pack that helps it push torque up 910 Nm, quite impressive for a vehicle that’s nearly 4.9 meters long and 2.1 meters wide.

    Other than speed and performance, tech is all over the car, from the five external cameras, 12 ultrasonic driver sensors, five radar modules, and driver assistance, it’s what every SUV driver wants to have. Starting sticker price comes in at $83,900 and drivers can start placing their orders now, with production to commence around the start of summer 2023.

EVs have piqued the interest of motorists in nearly every corner of the world, and now with the luxury car market looking to make the transition into cleaner and more sustainable vehicle options, the coming year will be once again another exciting time for the EV market. 

While competition grows strong, buyers on the other hand will have more options to choose from. Price will remain a determining factor for many, but for those who are willing to cash out more than the average buyer, you’ll be sure to find some impressive luxury options suitable to your taste. 

With a bit of ingenuity, innovation, and sophisticated design, luxury cars are now going electric, and it’s about time that the people start noticing.

Written by Jacob Wolinsky.
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Why Your ESG Strategy Needs to Apply to a Younger Generation by Jane Marsh.
Three Words for 2023 by Leo Bottary.

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CEOWORLD magazine - Latest - Success and Leadership - These Are The Top Luxury EVs To Watch Out For This Year
Jacob Wolinsky
Jacob Wolinsky is the the founder and CEO of ValueWalk LLC. What started as a hobby 10 years ago, has turned into a well-known financial media empire with millions of monthly visitors focusing in particular on simplifying the opaque world of the hedge fund world. Before doing ValueWalk full time, I worked as an equity analyst first at a micro-cap focused private equity firm, as well as an analyst at a small/mid-cap value-focused research shop. After that, I worked in business development for hedge funds. I live with my wife and four kids in Passaic New Jersey.

Full Disclosure: I only invest in broad-based ETFs and mutual funds. I no longer purchase equities to avoid even the appearance of a conflict of interest.

Jacob Wolinsky is an opinion columnist for the CEOWORLD magazine. You can follow him on LinkedIn.