Top 6. Best Stocks of Electric Vehicle Manufacturers
The electric vehicle market is growing rapidly, and more and more people prefer to purchase cars with electric motors. This is reflected in sales statistics, and it is expected that the share of electric vehicles in the overall car sales volume will continue to grow in the coming years. In light of this, we have decided to compile a ranking of the best electric vehicle manufacturers based on sales data and company market capitalization.
Growth Dynamics of the Electric Vehicle Market
|Share of Electric Vehicles in New Car Sales
|Expected 18% (forecast)
№ 1. Tesla (TSLA)
Tesla is the leader in electric vehicle production. In 2022, the company sold 1.31 million cars, which speaks to its popularity among consumers. Tesla’s market capitalization is an enormous amount – $757 billion, which is an impressive figure.
Tesla, Inc. is an American electric vehicle and clean energy company founded by Elon Musk, JB Straubel, Martin Eberhard, Marc Tarpenning, and Ian Wright in 2003. Tesla is known for its innovative electric vehicles, including the popular Model S, Model 3, Model X, and Model Y, as well as the upcoming Cybertruck and Semi. The company has also developed advanced energy storage solutions such as the Powerwall and Powerpack, as well as solar energy products. Tesla is renowned for its cutting-edge technology, high-performance electric vehicles, and its focus on sustainability.
№ 2. Li Auto (2015)
Li Auto is a relatively new player in the electric vehicle market, but it has already made a name for itself with high sales. In 2022, the company sold 133,300 cars, which is an impressive result. Li Auto’s market capitalization is $39.39 billion, which indicates investor confidence in the company.
Li Auto is a Chinese electric vehicle manufacturer founded in 2015. It specializes in the development and production of extended-range electric vehicles (EREVs), which combine electric power with a small internal combustion engine for increased range. The company’s flagship model is the Li ONE, a six-seat electric SUV. Li Auto has been successful in the Chinese market and has gained popularity due to its EREV technology, which addresses concerns about limited charging infrastructure and range anxiety.
№ 3. Rivian (RIVN)
Rivian is another promising electric vehicle manufacturer. In 2022, the company sold 20,300 cars, which is a small figure compared to the market leader. However, Rivian’s market capitalization is $19.03 billion, which speaks to the company’s potential and prospects.
Rivian is an American electric vehicle manufacturer founded in 2009. The company has gained significant attention for its electric adventure vehicles, including the R1T electric truck and the R1S electric SUV. Rivian’s vehicles are known for their ruggedness, off-road capabilities, and high performance. The company has also attracted major investments from companies such as Amazon and Ford. Rivian aims to disrupt the automotive industry by offering sustainable and adventure-focused electric vehicles.
№ 4. NIO (9866)
NIO is a Chinese company that also manufactures electric vehicles. In 2022, it sold 120,800 cars, which speaks to its popularity in the market. NIO’s market capitalization is $17.23 billion, which is an important indicator for investors.
NIO is a Chinese electric vehicle manufacturer founded in 2014. The company focuses on the development and production of high-performance electric vehicles, including the ES8, ES6, and EC6. NIO is known for its advanced battery swapping technology, which allows drivers to quickly exchange their depleted batteries for fully charged ones, addressing the issue of long charging times. The company also offers innovative features such as a digital assistant and an extensive charging network. NIO has become one of the leading electric vehicle companies in China.
№ 5. Xpeng (9868)
Xpeng is another Chinese electric vehicle manufacturer that shows good sales results. In 2022, the company sold 120,800 cars, making it a competitor to NIO. Xpeng’s market capitalization is $14.35 billion, which indicates its significance in the market.
Xpeng is another Chinese electric vehicle manufacturer founded in 2014. The company specializes in the development and production of smart electric vehicles, including the G3 SUV and the P7 sedan. Xpeng vehicles are equipped with advanced autonomous driving features and connectivity capabilities. The company has also established a robust charging infrastructure and offers innovative subscription and leasing options for its customers. Xpeng has experienced rapid growth in the Chinese market and is considered one of the top electric vehicle manufacturers in the country.
№ 6. Lucid (LCID)
Lucid is a relatively small electric vehicle manufacturer that sold only 4,400 cars in 2022. However, the company’s market capitalization is $13.74 billion, which speaks to its potential and prospects in the market.
Lucid Motors, Inc. is an American automotive company founded in 2007. The company focuses on the development and production of luxury electric vehicles. Lucid’s flagship model is the Lucid Air, a premium electric sedan with impressive range and high-performance capabilities. The company prides itself on its advanced technology, including its in-house developed electric drivetrain and battery systems. Lucid aims to compete with established luxury car manufacturers and offer a sustainable and luxurious alternative to internal combustion engine vehicles.
Table: Top stocks of electric vehicle manufacturers by market capitalization and number of cars sold
|Sales in 2022
|Market Capitalization as of August 26, 2023
Each of these companies has its own features and advantages, and they show good results in the electric vehicle market. However, Tesla remains the undisputed leader, selling the largest number of cars and having a high market capitalization. The other companies also have their own audience and attract investors with their prospects and innovative developments in the field of electric vehicles.