Within the next year, several carmakers are looking to release new electric vehicle (“EV”) models, and the Super Bowl provides a wonderful opportunity for these companies to showcase through advertising. General Motors, Kia, BMW and Polestar are some of the big names that have featured electric vehicles in their ads. It is estimated that the average ad spot during the Super Bowl is about $6.5 million for 30 seconds.
The increase in releases fits into the growing interest in electric vehicles in the United States. This transition to clean energy will lead to a reduction of carbon emissions from the transportation sector, which accounts for almost 30% of the country’s total emission. According to Nick Nigro, head of Atlas Public Policy, this transition will transform the auto-industry, opening up a multitrillion dollar market.
The Super Bowl is considered to be a turning point for automakers because it provides them with the ability to control consumer interest. According to Britta Gross from RMI, car makers cannot control demand so they have to “build it” by gaining consumer interest through advertising.
Many of this year’s Super Bowl ads featured celebrities and sports cars. The reason is mainly because TV ads generate sales. A great example is an Audi EV commercial that ran last year, which led to a 90% increase in traffic searches on Audi in comparison to when it advertised a gas-burning car. According to advertising firm EDO, it pays off in the end for a carmaker to advertise an electric vehicle instead.
Another reason that has led to the shift to electric vehicles is the huge infrastructure bill that Congress passed last year. The bipartisan bill will fund the building of charging stations across U.S. highways as well as fund tax credits on electric vehicles.
Despite the domination of EV ads, the number of models that are available for purchase is small. This is partly due to chip shortages and the disruption of supply chains. According to a report by “The Verge,” General Motors featured five EVs in an ad, out of which two are available for purchase.
Presently, there is a boom in advertising of electric vehicles as more carmakers look to create brand awareness. According to EDO, the number of ads for EVs went from 8,100 in 2019 to almost 33,000 last year. Experts predict that more companies will share the cost-saving benefits of EVs as a way to win over the consumers, and we could see companies such as Mullen Automotive Inc. (NASDAQ: MULN) making record-setting sales as EVs finally take off in a big way across different markets.
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
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