Electric vehicles (EVs) are revolutionizing the automotive industry, and the demand for them is increasing rapidly. As countries are introducing stricter regulations in terms of emissions, automakers are responding by focusing on EVs. The world’s leading electric vehicle companies are investing billions of dollars in research and development, and they are expanding their production capacity to meet consumer demand. In this blog post, we will be discussing the top 10 electric vehicle companies worldwide.

According to TechSci Research report, “Electric Vehicle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027F Segmented By Vehicle Type (Two Wheelers, Passenger Cars (PC) Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV)), By Propulsion Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)), By Range (0-50 Miles, 51-150 Miles and 151-200 Miles, 201-400 Miles and Above 400 Miles), By Battery Capacity (Less Than 50 kWh, 51 kWh to 100 kWh, 101 kWh to 200 kWh, 201 kWh to 300 kWh, Above 300 kWh), By Region,” the global electric vehicle market stood at USD 570.34 billion in 2021 and is estimated to reach USD 1,657.10 billion in 2027, registering a CAGR of 21.20% through 2027. The market growth is driven by rising awareness towards zero emissions, rising fuel costs, lack of standardization, and various government initiatives. The governments of various countries across the globe are offering tax rebates and incentive schemes to aid the faster adoption of EVs. However, the market is facing the challenge due to economic slowdown.

List of Top 12 Electric Vehicle Companies Worldwide:

1. BYD Auto Co., Ltd.

BYD Auto Co., Ltd is a prominent Chinese manufacturer of electric vehicles, batteries, and renewable energy-related products. It has established itself as one of the world's largest electric vehicle manufacturers. BYD Auto markets electric cars, buses, and trucks in China, Europe, the United States, and other global regions. Their current lineup includes battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), collectively referred to as new energy vehicles (NEVs) in China. In 2008, BYD introduced its first plug-in hybrid electric vehicle, the BYD F3DM, followed by the BYD e6, its initial production battery electric vehicle, in 2009. The company ceased production of solely internal combustion engine cars in March 2022. Since the first quarter of 2023, BYD has been the top-selling car brand in China.

2. General Motors Company

General Motors Company is a multinational corporation based in the United States and has been an influential player in the automotive industry for over a century. It is involved in the design, production, and global sales of vehicles. The company has established itself as a leader in the automotive industry, particularly in the realm of electric vehicles. Among its current electric vehicle offerings are the Chevrolet Bolt, Bolt EUV, and Cadillac Lyriq. With a workforce of over 165,000 employees spread across six continents and 22 time zones, General Motors Company is committed to electrification, vehicle safety, and making a positive social impact. Their Ultium Platform is designed to make electric vehicles accessible to all, driving the world towards an all-electric future. This innovative technology is built upon a flexible battery architecture that enhances the electric driving experience. The company has made significant investments in electric vehicles and announced plans to launch 30 new electric vehicles by 2025. GM's Chevy Bolt EV is currently one of the top-selling electric vehicles in the US. The Bolt EV offers a range of up to 259 miles per charge and a price point that makes it more accessible to the masses.

3. Tesla, Inc.

Tesla, Inc. is a multinational corporation based in the United States. The company focuses on manufacturing, designing, and sale of electric vehicles, energy storage systems, and solar products. It is a market leader in the electric vehicle industry. The company’s Model S, Model 3, and Model X are some of the most popular electric vehicles. Founded in 2003, Tesla has been at the forefront of introducing innovative technologies and designs. With a focus on sustainability, the company produces zero-emission vehicles that can be charged with clean energy. Tesla's vehicles are known for their safety features and offer additional perks such as gaming and movies. Tesla's mission is to accelerate the world's transition to sustainable energy. Tesla's electric cars are not only eco-friendly but also offer high-performance and cutting-edge technology. With a range of up to 402 miles per charge, Tesla's vehicles offer convenience and efficiency to its customers. Operating across six large, vertically integrated factories on three continents, Tesla has a global workforce of over 100,000 employees. Named after renowned inventor Nikola Tesla, the company is led by CEO Elon Musk. Since the production of its first car model, the Roadster sports car, in 2008, Tesla has expanded its lineup to include the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, and the Model Y crossover in 2020.

4. SAIC Motor Corp., Ltd.

SAIC Motor Corp., Ltd is a Chinese state-owned automotive design and manufacturing company that produces electric vehicles, conventional vehicles, and automotive parts. The company has become one of the largest automakers in China, producing over 7 million vehicles annually. SAIC Motor produces electric vehicles under the Roewe and MG brands, and it is investing heavily in research and development to remain competitive in the global market.

The company manufactures and markets vehicles under its own brands, including IM, Maxus, MG, Rising, Roewe, Baojun (under SGMW), and Wuling (under SGMW). They also collaborate with foreign brands in joint ventures like SAIC-Volkswagen (Volkswagen, Skoda, Audi) and SAIC-General Motors (Buick, Chevrolet, Cadillac). In 2021, domestic-branded cars accounted for 52% of total sales. SAIC sells its products under various brand names, including those of its joint venture partners. Notably, SAIC owns MG, a historic British car marque, and Roewe. In 2010, SAIC produced 3.58 million units, the largest output of any China-based automaker that year.

5. Bayerische Motoren Werke AG

Bayerische Motoren Werke AG (BMW) is a well know German multinational corporation that manufactures luxury vehicles, motorcycles, and engines. The company has expanded its electric vehicle lineup to include the i3 and iX3 models. BMW is also investing in research and development to produce electric battery technology. Incorporating in-house artificial intelligence technologies like Car2X and AIQX, BMW vehicles become networked participants, even throughout the production process.

The MINI Countryman, the first MINI electric vehicle to be manufactured in Germany, will be produced at the BMW Group plant in Leipzig starting from the end of this year. As a result, it will take advantage of the sustainability strategy implemented by the BMW Group. The specially designed flat high-voltage batteries save space, which means that the MINI Countryman Electric will offer even more space and comfort in the future. The wider wheel arches enhance the crossover aesthetics. The new matrix taillights stand tall, while the body tapers below the model lettering, emphasizes the presence of the new MINI Countryman with its striking black vehicle band.

6. Vmoto Ltd.

Vmoto Ltd is a fully integrated provider of EV solutions, delivering the next generation of e-mobility. As a brand owner, manufacturer, and distributor of electric two-wheel vehicles, Vmoto has a global distribution network. Their vision is to supply sustainable, innovative, and exhilarating EV technology. Vmoto boasts one of the most extensive global distribution networks among electric motorcycle/scooter manufacturers worldwide. They hold significant market share in several European countries and are represented by 62 distributors in 65 countries across Asia Pacific, Europe, North America, South America, and Africa. On December 6, 2022, Vmoto announced a strategic technology and investment agreement with Charged Asia, which owns Charged Indonesia, an electric motorcycle technology company in Indonesia focused on providing sustainable mobility options and EVaaS to Indonesian customers. In November 2022, Vmoto showcased and launched new products, including their futuristic concept "Air Performance Design," in collaboration with Pininfarina at the EICMA 2022 motorcycle expo in Milan, Italy.

7. Jiangsu Xinri E-Vehicle Co., Ltd.

Jiangsu Xinri E-Vehicle Co., Ltd is a Chinese electric vehicle manufacturer that produces electric bicycles, electric scooters, electric tricycles, and electric mopeds. The company was founded in 1999, and it has since grown to become one of the world’s largest electric bicycle manufacturers. Jiangsu Xinri E-Vehicle Co., Ltd sells its products globally under the Xinri brand. The company has 10,000 service outlets across China, and 233 exclusive technology patents. The company uses technologies like automotive grade lithium battery, dual core dual power system 2.0, and intelligent control system in its electric vehicles.

8. Tailing Electric Vehicle Co., Ltd.

Established in March 2004 in Shenzhen, China, Tailing Electric Vehicle Co., Ltd has dedicated itself to the advancement and manufacturing of pure electric transportation and mobility products. With nearly two decades of growth, it has emerged as the foremost producer of electric bicycles, electric motorcycles, and electric tricycles in China. Moreover, the company possesses the capability to independently develop and manufacture core components like frames and electric drive systems. With over 6,000 employees, including more than 200 R&D personnel, the company has amassed a portfolio of over 1,000 patents.

TAlLG boasts 9 R&D and production bases, along with a Global E-Mobility Programme Research Institute situated in Dongguan, Huizhou, Wuxi, Xuzhou, Tianjin, Chongqing, and Guigang in China. These facilities can collectively achieve an annual production capacity of 15 million electric bicycles, electric motorcycles, and electric tricycles (based on planned capacity). The Global E-Mobility Programme Research Institute concentrates on the development of high-end electric motorcycles, as well as battery, motor, and controller technology.

Currently, TAlLG exports its products to over 90 countries and regions worldwide, enjoying a strong reputation in these markets.

9. Gesits Technologies Indo

Gesits Technologies Indo, an Indonesian electric vehicle manufacturer, specializes in producing electric motorcycles and scooters. Established in 2018, the company has emerged as a prominent player in Indonesia's electric vehicle market. With a strong focus on research and development, Gesits Technologies Indo is dedicated to introducing new electric vehicle models and expanding production capacity. The company leads the automotive manufacturing industry in Southeast Asia with its superior electric vehicle products. Additionally, Gesits Technologies Indo aims to promote the use of environmentally friendly and efficient vehicles by shaping people's mindset.

10. Voltz

Voltz is a Brazilian electric vehicle manufacturer that produces electric motorcycles, electric mopeds, and electric scooters. The company was established in 2017, and it has since grown to become a notable player in the global electric vehicle market. Voltz is investing in research and development to produce innovative and sustainable electric vehicle models. The inaugural Voltz electric motorcycle made its debut in November 2019, and within a year of its market release, it achieved impressive sales of 1,600 units. The initial customers of EV1 showcased unwavering enthusiasm for the brand, fostering a highly engaged community.

Following a year of exclusive collaboration with EV1, Voltz unveiled its latest street model, the EVS. During the pre-sale launch week alone, Voltz surpassed market expectations by selling 2,000 EVS units.

In May 2021, the company secured a substantial investment of nearly 100 million from Creditas, a prominent credit fintech in Brazil. This contribution furnished the necessary capital for establishing a factory in Manaus, expanding the retail network, and building a robust battery recharging infrastructure.

11. Volkswagen AG

Volkswagen AG, internationally known as the Volkswagen Group, is a German multinational automotive manufacturer based in Wolfsburg, Lower Saxony, Germany. The company is involved in the design, production, and distribution of passenger and commercial vehicles, motorcycles, engines, turbomachinery, and related services such as financing, leasing, and fleet management. With its various brands, business units, and financial services, Volkswagen is at the forefront of shaping the future of zero-emission and autonomous mobility. The Volkswagen Group sells passenger cars under renowned brands like Audi, Bentley, Cupra, Jetta, Lamborghini, Porsche, SEAT, Škoda, and Volkswagen. In the 1970s, Volkswagen introduced a new generation of front-wheel drive vehicles, including popular models like the Passat, Polo, and Golf. The acquisition of SEAT in 1986 marked Volkswagen's first venture into a non-German brand. In 2016, the Volkswagen Group unveiled its corporate "Strategy 2025," which places a strong emphasis on electrification across its portfolio. The company has developed the Volkswagen Group MEB platform chassis, which offers flexibility and a floor-mounted battery, and will be utilized in a range of cars and light utility vehicles across multiple Volkswagen Group brands.

12. Ford Motor Company

Headquartered in Dearborn, Michigan, Ford Motor Company is an American multinational automobile manufacturer. Established on June 16, 1903, by Henry Ford, the company offers a range of automobiles and commercial vehicles under the Ford brand, as well as luxury cars under the Lincoln brand. Listed on the New York Stock Exchange, Ford is predominantly controlled by the Ford family, who possess minority ownership but hold the majority of the voting power. Ford is renowned for its pioneering methods in large-scale car manufacturing and industrial workforce management, exemplified by the introduction of moving assembly lines, a concept widely known as Fordism. The company has also embraced the production of crossover SUVs built on unibody car platforms, as well as hybrid electric powertrain technologies licensed from Toyota. In a partnership with Southern California Edison (SCE), Ford is exploring the future of plug-in hybrids and the integration of home and vehicle energy systems with the electrical grid.

Conclusion:

As we can see, the electric vehicle industry is rapidly growing, with many companies making significant strides towards sustainability and innovation. Tesla, BYD, and Volkswagen are just a few of the companies that are leading the way. In the coming years, we can expect to see even more advancements and breakthroughs in the electric vehicle industry, which will inevitably lead to a more sustainable future. As consumers, it’s incredibly exciting to witness these changes and have the opportunity to participate in it by choosing electric vehicles. As we look towards the future, let’s continue to support these companies and push for a more sustainable world.

Electric vehicles offer a sustainable and eco-friendly solution to the world's growing environmental concerns. The top electric vehicle companies mentioned in this blog post are leading the way in creating a clean and green future. These companies offer electric vehicles that are not only eco-friendly but also offer high-performance and cutting-edge technology. As the uptake of electric vehicles continues to grow, we can only expect more companies to join the race, bringing in better and more advanced electric vehicles that are efficient, convenient, and accessible.