Over the last decade, the electric vehicle (EV) market has grown as the demand for sustainability has influenced the automobiles people drive. According to International Energy Agency data, the number of EVs sold increased from 120,000 in 2011 to 6.6 million in 2021, accounting for 10% of total car sales (IEA).
According to EV Volumes, 4.3 million new EVs were sold in the first half of 2022, a 62% increase over 2021.
What are the largest electric vehicle manufacturers, and how many vehicles do they sell each year? Continue reading as we examine and dissect the world’s largest electric car manufacturers.
The global EV market is expected to reach over 39,000 units by 2030, representing a 22% annualized growth rate across an eight-year timeframe. While EV sales continue to rise, a few companies are making their presence felt in the marketplace.
We look at five of the largest worldwide EV companies by market capitalization below. To keep things simple, we only featured pure EV firms rather than large automakers that produce both EVs and regular combustion-engine-powered vehicles.
Biggest Electric Vehicle Companies in the World
Arrival (NASDAQ:ARVL) is a company that creates and builds electric vehicles such as cars, minibuses, and commercial vans. In addition, the company creates manufacturing techniques and software for electric vehicles. Its headquarters are located in Luxembourg.
Arrival (NASDAQ:ARVLmost )’s recent share price is $0.53, with a market capitalization of $330 million. Arrival (NASDAQ:ARVL) announced a net loss of $310 million in its third fiscal quarter, and the company expects to complete the year with cash of between $million and $200 million.
Arrival (NASDAQ:ARVL), along with the likes of Ford Motor Company (NYSE:F), General Motors Corporation (NYSE:GM), and Tesla, Inc. (NASDAQ:TSLA), is one of the world’s largest electric vehicle firms.
Tesla is the most well-known electric vehicle manufacturer, headquartered in the United States and led by Elon Musk. It was formed in July 2003 to demonstrate that electric vehicles are more fun, faster, and convenient to operate than gasoline vehicles. Tesla aspires to a world free of fossil fuels and zero emissions.
In the first half of 2020, Tesla will be in first place globally. With 179,050 units sold, this Evs manufacturer accounts for 28% of the market.
Tesla’s automobiles are in high demand among consumers because to its revolutionary technology, modern design, and excellent performance. Tesla’s base Model 3 variation costs €28,500 (and the most costly Model X costs around €63,000).
Lordstown Motors Corp
Lordstown Motors Corp. (NASDAQ:RIDE) is indeed an American maker of electric vehicles. The company creates a single product line, the Endurance pickup truck for fleet customers.
The company has collaborated with Foxconn, the nation’s biggest contract manufacturer. Foxconn intends to expand its manufacturing base to include electric vehicles. In November 2022, the business announced another $70 million investment in the automotive designer. The market capitalization of Lordstown Motors Corp. (NASDAQ:RIDE) is $400 million.
Millennium Management, led by Israel Englander, is Lordstown Motors Corp.’s (NASDAQ:RIDE) top shareholder, with a $6.3 million investment comprised of 4 million shares.
NIO (NIO) is the next company on our list of the best electric car firms. The Chinese EV manufacturer provides six vehicle options, including two sedans (ET7 and ET5) as well as four SUVs (ES7, EC6, ES8 and ES6). The ES8 was the company’s first vehicle. In 2018, NIO began shipping its first units.
NIO delivered 82,434 vehicles and produced $4.93 billion in sales during the first three quarters of 2022. According to the company’s most current projections, it expects to deliver around 38,500 and 39,500 automobiles in the fourth quarter of 2022.
The principal manufacturing site of NIO is located in China’s Hefei Economic and Technology Development Area (HETA). William Li is the company’s CEO. At the end of 2021, Nio had 15,204 full-time employees, the vast majority of whom were women.
Hyzon Motors Inc
Hyzon Motors Inc. (NASDAQ:HYZN) manufactures and sells only electric vehicles for business transportation. It manufactures city buses as well as Class 3, 4, 6, and 8 vehicles. Sure of one thing Falls, New York is the company’s headquarters.
yzon Motors Inc. (NASDAQ:HYZN) had a $470 million market capitalization as of Saturday, November 12th, 2022. The company has yet to file its earnings report for the second quarter, and the NASDAQ has issued a notice for its inability to do so. In addition, it is looking into revenue recognition concerns in China.
In our database, Israel Englander’s Millenium Management owns 2.4 million shares worth $7.1 million in Hyzon Motors Inc. (NASDAQ:HYZN).
Are Chinese Electric Cars Legal In The Us
Lumsokala is indeed an electric vehicle manufacturer that manufactures street legal electric automobiles. Two entrepreneurs realised the potential for electric automobiles to improve the transportation business and started the firm in 2014. Lumsokala’s first electric vehicle, the Lumsokala EV1, debuted in 2016. The EV1 is a street-legal electric vehicle with a range of up to 100 miles on a single charge. The EV1 has an 85-mph top speed and a range of up to 100 miles. The EV1 also has a charging connector that allows it to be plugged into a conventional 110 volt outlet. The Lumsokala EV1 is the first street-legal electric car accessible in the United States. The EV1 is now on the market.