The electric car market is now growing rapidly as many countries launch programs to reduce carbon emissions.
In line with this program, the potential for electric car sales continues to experience a positive trend in almost every region of the world.
So far, US automaker Tesla still dominates the global market for electric vehicles. South Korea’s Yonhap reports that Tesla controlled up to 22.2% of its EV market share in the first half of 2021.
Tesla’s penetration into the electric car market is very convincing. With many variations of electric vehicles, ranging from small to large. But at this time car manufacturers are not only owned by Tesla, there are several manufacturers who also helped create electric cars.
Tesla, Inc. based in Austin, Texas, designs, develops, manufactures, markets and leases all-electric vehicles and energy generation and storage solutions. The current product portfolio includes the Model 3 and Model S sedans, the Model Y and Model X SUVs, and future products include the Cyber Truck, Tesla Roadster, and the Tesla Semilight commercial vehicle.
With a market capitalization of $686.5 billion, it ranks at the top of the world’s largest electric car manufacturer.
Tesla, Inc. produced more than 365,000 vehicles by the third quarter of 2022. The company has six major manufacturing facilities worldwide, including its first plant in California and larger plants in Nevada, New York, Shanghai, Texas and Berlin.
Dr Ing hc F Porsche AG, commonly known as Porsche, is a recently registered automaker based in Stuttgart, Germany, specializing in high performance luxury sports cars, SUVs and sedans. Four-door sports sedans such as the Taycan, Taycan 4S and Taycan GTS, as well as luxury SUV lines such as the Taycan Turbo Cross Turismo and Taycan 4S Cross Turismo are also electric vehicles.
With a market capitalization of $90.6 billion, it is second only to Tesla.
In the first nine months of 2022, Porsche delivered 25,073 Taycan electric cars, accounting for more than 11% of total deliveries during this period. The company aims to increase its share of electric vehicle shipments to 50% by 2025 and more than 80% by the end of the decade.
As previously reported, Porsche AG had its IPO on (29/9/2022) and succeeded in becoming an issuer with the largest IPO in its debut IPO on the Frankfurt stock exchange, Germany.
BYD Company Limited
BYD Company Limited, headquartered in Shenzhen, China, is a multinational manufacturing company with three main businesses, mainly automotive businesses including new energy vehicles, mobile phone parts and assembly businesses, rechargeable batteries and solar power businesses.
With a market capitalization of USD 83.9 billion, BYD Company Limited is the third largest electric car manufacturer in the world.
BYD produced 97,902 electric vehicles by September 2022 and produced a total of 590,804 electric vehicles from January to September 2022. The EV lineup includes the Atto 3, a C-segment crossover/SUV. An elegant and sporty E-segment sedan, and a 7-seater Tang family SUV.
Volkswagen AG, also known as the Volkswagen Group, is a multinational automaker based in Wolfsburg, Germany. The group consists of 12 brands (Volkswagen, Audi, SEAT, Koda, Bentley, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN) from seven European countries.
Founded in 1937, Volkswagen AG employs approximately 630,000 people at 120 production sites in 20 European countries and 11 countries in the Americas, Asia and Africa. In the third quarter of 2022, the Group delivered approximately 2.2 million vehicles, including 149,300 electric vehicles, to customers worldwide.
With a market capitalization of USD 74.7 billion, Volkswagen AG is in the fourth position as the largest electric car company in the world.
Volkswagen Group’s best-selling electric car models in the first nine months of 2022 include Volkswagen brands ID.4/ID.5, Volkswagen ID.3, KODA Enyaq iV, Audi e-tron, Audi Q4 e -Birth of Tron, Volkswagen ID. 6, Porsche Taycan and Cupra.
Mercedes Benz Group AG
Headquartered in Stuttgart, Germany, Mercedes Benz Group AG is the world’s leading manufacturer of premium and luxury cars and vans. With a history dating back to 1886, the company sells vehicles and services in almost every country in the world and has manufacturing facilities in Europe, North America, Latin America, Asia and Africa.
In June 2022, Mercedes Benz Group AG launched an electric drive strategy that will be fully electric by 2020. The company plans to invest more than €40 billion in battery electric vehicles between 2022 and 2030. As part of this plan, the company will start producing vehicles electricity in seven locations on three continents.
With a market capitalization of USD 61.8 billion, the company is in the fifth position as the largest electric car manufacturer in the world.
The Mercedes-Benz Group AG line of electric vehicles is sold under the Mercedes EQ brand and consists of the EQC compact SUV. EQV on the V-Class platform. The EQA is a second generation crossover. Pure electric compact SUV EQB. The company managed to sell 37,069 electric cars in the third quarter of 2022.