Despite its initial high cost, electric cars are considered a luxury item that is increasingly popular among consumers because they are better for the environment and easier on their wallets. Due to its innovative and cool features, it provides an excellent driving experience. Electric Vehicle Manufacturers powered entirely by electricity, which are also known as battery electric vehicles, are known as all-electric vehicles (EVs). The electric cars also do not generate hazardous emissions and do not use conventional fuels like gasoline or diesel. Their environmental friendliness makes them a viable alternative to non-renewable sources of energy.
Electric Vehicle Market in 2028
There will, however, be a long and hard road to make electric vehicles more accessible and affordable. When the majority of the world’s population uses electric vehicles, then it will be a true success in terms of its stated aim, which is to replace gasoline or diesel vehicles. By providing subsidies and charging infrastructure across countries, governments are actively making Electric Vehicle Manufacturers more affordable for consumers. A CAGR of 20.6% is predicted for the electric vehicle market by 2028, according to Reports and Data
Electric vehicles are produced by numerous companies around the world. However, due to its intense competition, only a few companies are able to offer the best products. Here are the top 10 manufacturers of electric vehicles in the world:
Tesla – Global Market
Market share leader Tesla posted 179,050 units sold in the first half of 2020, representing 28% of the global market. With revolutionary technology, a modern design, and high performance, Tesla’s cars are in high demand among consumers.
In addition to a long range and an attractive appearance, the Model 3 offers a lot as the entry-level Tesla. Several weeks ago, Tesla entered into an agreement to manufacture electric cars in India. This is a positive step for India, but it may not provide immediate benefits to manufacturers and consumers due to the lack of charging stations throughout the country.
Renault–Nissan–Mitsubishi Alliance
This coalition leads the world in Electric Vehicle Manufacturers sales with 737,492. Since its debut in 2010, the Nissan LEAF has sold over 409,000 units worldwide. The Renault ZOE and Mitsubishi Outlander PHEV are also part of this alliance. Between 2012 and 2018, there were 133,636 Renault ZOEs sold globally. There will be 12 electrified vehicles and eight all-electric vehicles offered by Groupe Renault by 2022.
German Volkswagen
With its distinctive Beetle, it is one of the most famous German automobile manufacturers. Sales of its cars surpassed Toyota’s in 2016 and 2017.
E-up! and e-up! electric cars are the two models it offers. In addition, there is the e-Golf. The world’s third largest producer of electric vehicles, Volkswagen, plans to build 50 variants by 2025. 10 percent of the global market was accounted for by 64,542 units sold in the first half of 2020.
Shenzhen Company BYD
The BYD Company, formed in Shenzhen in the mid-1990s, manufactures batteries for brick-sized telephones and digital cameras. There are approximately 30,000 pure electric vehicles/plug-in hybrids sold each month in China. Over a six-year period, BYD’s electric vehicles ranked highest in global sales. The company sold 46,554 units in just the first half of 2020.
Kia Corporation
As the country’s second largest automobile manufacturer behind Hyundai Motor Company, Kia Corporation is a subsidiary of Hyundai Motor Company. As many as six electric vehicles will be launched by Hyundai and Kia in India over the next three years to capture the enormous Indian market. Each company will introduce three completely different electric vehicles, although they will collaborate on the manufacturing of EVs. Hyundai and Kia share 6.5 percent of the global market and are ranked fifth and sixth respectively.
BMW
As a sub-brand of BMW, BMWi develops and manufactures plug-in electric cars. In the beginning, the company offered two vehicles: the i3 all-electric car and the i8 plug-in hybrid. 500,000 Electric Vehicle by Manufacturers were sold by the BMW Group in December 2019, including BMWi, iPerformance, xDrive, and MINI models.
General Motors Corporation
American automobile manufacturer General Motors (GM) operates globally. First long-range electric vehicle in the world, the Chevy Bolt has a range of over 300 miles. The vehicle’s price starts at USD 37,500 and it has a range of 238 miles, making it a compact utility vehicle. In recognition of its eco-friendly electric vehicle lineup, Chevrolet Volt, one of its subsidiaries, has won numerous awards. A Green Car Vision Award was given to them in 2009. Three awards were presented to them in 2011: North American Car of the Year, World Car of the Year, and Green Car of the Year. Furthermore, they were named 2012 European Car of the Year and 2016 Green Car of the Year.
American Ford
American automaker Ford makes the Ford Focus Electric, which is one of the most popular electric vehicles on the market. With a battery that can travel more than 100 miles on a single charge, it resembles a conventional vehicle in appearance and feel. Essentially, it is a plug-in hybrid Ford Focus.
Toyota
Prius, Toyota’s first mass-produced hybrid electric vehicle, made history in 1997 as the world’s first electric vehicle. In order to reduce carbon emissions, Toyota is now offering electric vehicles as a sustainable concept. The company plans to produce more than 70 electric vehicles by 2025. In an effort to build a full line-up of electrified vehicles, Toyota Motor Corporation (Toyota) launched the Toyota bZ battery electric vehicle (BEV) series on April 19.
Mercedes-Benz AG
The Daimler-Benz corporation owes its existence to Daimler AG, which was formed in 1926 by the merger of Mercedes Benz & Cie. Daimler Motoren Gesellschaft and Mercedes Benz & Cie.
Its trucks, buses, and vans, as well as its cars, are powered by innovative, sustainable drive systems developed by Daimler, the world’s largest producer of commercial vehicles. The eVito follows the company’s 2010 introduction of the Vito E-Cell. A large order for battery cells by Daimler through 2030 marks another milestone for electric vehicle production.
