Did you know the global Electric Vehicle (EV) market is expected to reach $823.75 billion by 2028? With the increasing demand for fuel and environment-efficient vehicles rising, more and more EV companies are emerging. But which ones are the best? This blog post will explore the top 10 EV companies you may have missed out on and should know about. These companies are leading the way in innovation and technology, and they are sure to make a big impact on the future of transportation.

Here are a few fun facts about EVs:

• The first electric car was invented in 1834.

• The longest-range EV on the market is the Tesla Model S Plaid, which can travel over 520 miles on a single charge.

• The fastest EV on the market is the Rimac Nevera, which can accelerate from 0 to 60 mph in just 1.85 seconds.

Types of Electric Vehicles

Here are the 10 best EV companies:

1. Tesla

• Founded: 2004
• CEO: Elon Musk (2008)
• Type of Vehicle: BEV
• No. of EV Models: 04

Tesla is on the list of the top automobile companies globally. The company manufactures BEVs, EV chargers, Inverters, and Renewable Energy. This American automotive brand has achieved a milestone by selling 1,313,581 cars alone in 2022. It has four cars on the list Model S, 3, Y, and X. Tesla’s first car, the Roadster, was discontinued in 2012 after the introduction of the Model S. The company has planned new models; Tesla Cybertruck, Semi, Model 2, and Roadster 2nd Gen, to launch soon. It serves the global market with a dominant position in the EV industry, with sales of 4,061,776 vehicles from 2008 to Q1 of 2023.

2. BYD

• Founded: 1995
• CEO: Wang Chuanfu (1995)
• Types of Vehicles: BEV and PHEV
• No. of EV Models: 7+4

BYD has been a Chinese automobile manufacturer in the industry since 2003. In 2015, it announced a full Market EV strategy with seven conventional and four specialized vehicles. The company has electric passenger vehicles, electric buses and coaches, Trucks, Rail Transit, Batteries, and Electronic products in its portfolio. BYD stands next to Tesla regarding EV sales in the Global Market. It sold 1.86 million electric and plug-in hybrid vehicles in 2022. The company is working on four new types of vehicles for airports, warehouses, mining, and ports.

3. Hyundai

• Founded: 1967
• CEO: Jaeehoon Chang (2022)
• Types of Vehicles: BEV, PHEV, HEV, and FCEV
• No. of EV Models: 4 (BEV), 3 (PHEV), 4 (HEV), 1 (FCEV)

Hyundai is a significant player in the global automotive sector dedicated to ongoing expansion and innovation. The company is increasing its worldwide manufacturing presence by investing significantly in the latest innovations like autonomous driving and electrified cars. Hyundai first offered Electric Vehicles in 2011. Hyundai’s first electric car model, the BlueOn, was only available in South Korea. Last year, in 2022, the company sold more than 240,000 electric cars, with almost 195,000 being battery-electric vehicles (BEVs). The company aggressively plans to be the list topper of EV companies in the near future with its ambitious fleet of EVs.

4. BMW

• Founded: 1916
• CEO: Oliver Zipse (2020)
• Types of Vehicles: BEV and PHEV
• No. of EV Models: 4 (BEV), 5 (PHEV)

Did you know that BMW, a multinational German automotive manufacturer, began selling electric cars in 2013 with the debut of their battery-electric car, the BMW i3? Last year, in 2022, BMW sold 215,755 battery-electric cars globally, a 108% increase from the previous year. However, the company’s plug-in hybrid electric vehicles (PHEVs) sales decreased by 3% year-over-year, with 218,040 sold during the same period. By 2040, BMW plans to offer only electric cars as part of its commitment to electrify its fleet. Among the new electric cars the company has in the works are the i7, iX1, and iX2.

5. Volkswagen

• Founded: 1937
• CEO: Oliver Blume (2022)
• Types of Vehicles: BEV
• No. of EV Models: 7 (BEV)

Volkswagen is currently the world’s largest automaker in terms of sales. They’ve been selling electric vehicles since 2013, starting with the e-Golf, an electric version of the Golf hatchback. Volkswagen has exciting plans to launch new electric cars like the ID soon. Aero, a sedan that can travel up to 435 miles, and the ID. Life, a small SUV with a starting price of only $20,000. Based on the Volkswagen MEB platform, these electric vehicles are under Volkswagen’s ID family. This platform is specifically designed for electric vehicles and allows Volkswagen to offer different electric vehicles at varying price points. In 2022, Volkswagen sold an impressive 325,100 BEVs globally.

6. Nissan

• Founded: 1933
• CEO: Makoto Uchida (2019)
• Types of Vehicles: BEV
• No. of EV Models: 5

Nissan was once the leader in the electric car industry, but Tesla took over in 2014. However, Nissan still offers the Leaf, their most popular EV. In 2022, the Leaf was the top-selling electric car worldwide, with 51,800 units sold. The Ariya was the second-best seller with 23,400 units sold, while the e-NV200 came in third with 13,000 units sold. Nissan’s sales of electric vehicles increased by 80% from 2021 to 2022.

7. Volvo

• Founded: 1927
• CEO: Jim Rowan (2021)
• Types of Vehicles: BEV and PHEV
• No. of EV Models: 4

Volvo is a luxurious car brand renowned for its cutting-edge technology and top-notch vehicle construction. In 2018, the company introduced its first BEV, the XC40 Recharge, and has since expanded its electric vehicle portfolio. Despite a 12% decrease in overall sales, Volvo saw a remarkable 11% increase in electric car sales, selling 66,749 units in 2022. The XC40 Recharge was the best-selling model for Volvo during this period.

8. Rivian

• Founded: 2009
• CEO: RJ Scaringe (2009)
• Types of Vehicles: BEV
• No. of EV Models: 2

Rivian is one of the promising American EV companies based in Irvine, California. With a robust team, ample funding, and a good range of products, Rivian is among the most highly anticipated EV startups. The company boasts an impressive portfolio, including the R1T pickup truck and the R1S electric SUV, making it well-positioned to become a major player in the EV market. In 2022, Rivian produced and sold 24,337 and 20,332 EVs, respectively.

9. Audi

• Founded: 1910
• CEO: Markus Duesmann (2020)
• Types of Vehicles: BEV
• No. of EV Models: 3

Audi currently offers three battery electric vehicles (BEVs) in its collection: the e-Tron, Q4 e-Tron, and e-Tron GT, each with unique specifications. In 2022, Audi achieved its first six-figure sales result, selling 118,196 all-electric vehicles worldwide, representing a considerable increase of 44.3% from the previous year (81,894). Additionally, the percentage of BEVs sold by Audi grew from 3.9% to 7.3% compared to last year. Audi plans to introduce more electric vehicles, such as the Q6 e-Tron and the A6 e-Tron, in the years ahead.

10. Renault

• Founded: 1903
• CEO: Luca de Meo (2022)
• Types of Vehicles: BEV
• No. of EV Models: 6

Renault has emerged as Europe’s third-largest seller of electric vehicles, with 228,000 vehicles sold in 2022. The company is committed to selling over 65% of electrified vehicles by 2025, establishing Europe’s market as the world’s greenest. In contrast to the industry average of 31%, Renault’s E-Tech range of battery electric and hybrid powertrains will contribute 39% of sales of Renault passenger vehicles in Europe in 2022. Moreover, the Megane E-Tech Electric will complete its battery-electric vehicle offering in Europe in the second half of 2022. With 33,000 sales, it will quickly emerge as one of the most sought-after BEV vehicles in the retail market, with most high-end models boasting a 450-km range. 

By reading this blog, you may have learned about the recent growth of the automotive industry due to new players and the increasing demand for environmentally-friendly vehicles. We encourage you to follow us to stay updated on the latest developments. We hope this blog has provided insight into the top 10 EV companies worldwide. Thank you for reading until the end.

Keep Reading! Keep Growing!

Parag Ahire

Also Read: Tesla Gigafactories unveil Game-Changing Energy Revolution

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