Companies in the automotive and car parts industry like Fox shocks, paid attention to the SEMA Show in Las Vegas, Nevada, where the big players show off their latest models and technological developments. The notable theme throughout the 2019 iteration of the event is the embracing of electric technology.
Ford, known for its bold moves and developments, was present at the show to unveil their 900 HP Mustang Lithium, a one-of-a-kind iteration of the classic American muscle car, powered by twin motor electric drive system.
Chevrolet, meanwhile, showed off their E-10 concept, a truck model that’s powered by an electric drive system in its rear, dubbed the ‘eCrate’, which the company suggests may soon be available for buyers looking for performance parts.
The aftermarket industry has no limits to its creativity, according to Chris Kersting, President and CEO of SEMA, a North American organization that represents trade specialty and aftermarket parts and accessory manufacturers, like Fox shocks, and the like.
SEMA members are forecasted to generate about $44.7bn in revenue in the US alone for 2019, which is a notable increase from 2018’s $42.92bn. For comparison, the worldwide movie industry raked in a total of $41.7 billion in 2018.
Over the past couple of years, a small chunk of SEMA’s members have been exploring electric technology to see what they can do with it. For example, California’s Unplugged Performance is currently offering a wide range of modifications for Tesla products, like brake and suspension upgrades and the like.
Cj3 EVV owner CJ Whelan says that electrification is basically the Wild West of the auto industry; full of potential.
SEMA reports that most of the businesses aimed at electric vehicles haven’t been reporting their income yet, but expects that particular segment of the market to grow quickly, which will, in turn, attract more prospects.
Part of the uncertainty stems from the difficulty of integrating electric technology into vehicles.
However, with major automakers like Chevrolet and Ford embracing electric technology, vehicles, and conversion, the segment could grow. The Chevy E-10 Concept, in particular, started out as a 1962 C-10 pickup, which got an electric drive system derived from the one in the Bolt EV. Chevy states that the Concept has 450 horses, with a 0-60 record of 5 seconds.
Ford’s Mustang Lithium, meanwhile, will be acting as the company’s test bed, with plans to create an all-electric Mustang that can take on the Porsche Taycan.
Ford Chief Product Development and Purchasing Officer Hau Thai-Tang says that the company has made no secret that it’s working on electrifying their most iconic brands. He adds that the Lithium is a great chance to showcase what kind of performance an electric powertrain can deliver to an iconic, well-loved vehicle.