The demand for electric cars has risen recently due to climate change and carbon emission concerns. Globally, federal and local government authorities are introducing measures to reduce carbon footprint and foster the transition to eco-friendly vehicles. The European Union has aimed to minimize greenhouse emissions by 55% within the next decade, with the U.S. government setting a similar target. EV sales keep soaring, but few prominent brands are making their mark in the industry. Here are the top five most popular EV car makers today.
By far, Tesla is the world’s biggest EV maker. Several attributes distinguish the United States’ reputable auto company from other competitors; the most noticeable difference lies in Tesla’s supply chain. The Texas-based company is known for being secretive about its materials, using silicon carbide to design its unique EV chips. Despite making a slow start to the year, Tesla is a huge force to reckon with in this manufacturing domain. Tesla EVs are very popular worldwide, setting sales records on multiple occasions. For instance, the Model 3 was the first electric vehicle to hit one million in global sales. Q1 of 2023 saw the Model Y reach major milestones, becoming the world’s best-selling EV. Tesla CEO Elon Musk invested in the auto company in 2004, becoming their biggest shareholder.
VinFast is a fast-rising Vietnamese EV car maker, taking the industry by storm. This brand went public in mid-August this year; it went on to trend in the stock market by huge surprise. The Vietnam-based company intends to evolve into a market leader in smart mobility. VinFast CEO Thuy Le recently told CNN the company plans to expand its operations in the United States while tipping Europe, Asia, and the Middle East to expect additional launches.
- Li Auto Inc.
Li Auto is among China’s most popular EV manufacturers, building premium smart electric cars. One of the company’s renowned EVs includes the Li ONE, a premium smart electric EV, and the Li L9, a full-size smart SUV. Li Auto Inc. is a pioneer in China’s extended-range electric car market. This brand boasts an impressive range and engine performance compared to other EVs, earning the nickname China’s Toyota.
The California-based electric vehicle manufacturer achieved success in the industry by overcoming shortfalls. Rivian’s market cap is over $20 billion; it fetched some big deals in 2022 with Amazon, allowing the e-commerce giant to roll out EV deliveries as early as last year. Rivian adopts a unique approach to camping vehicle design, introducing cutting-edge software for its electric trucks to revolutionize camping.
German auto leader Volkswagen has a greater history with electric vehicles. The company experimented with EVs for many years, dating back to the 1970s, before announcing in 2017 that they were shifting focus to the consumer market—Volkswagen built over 800k EVs in 2022, including BEVs and PHEVs.
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The EV market is growing fast. Tesla is still the world’s largest electric car maker, but brands like Ford, General Motors, and BMW are fully in for the race to cleaner transportation.