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PROPRIETARY EXTRACT, 4 October 2022: Despite its high initial price, electric cars are considered a luxury item that consumers wish to purchase because not only are they better for the environment, but they are also easier on the pocket; furthermore, due to their innovative design, electric cars offer a superior driving experience.
Battery electric vehicles, commonly referred to as all-electric vehicles (EVs), are propelled by an electric motor as opposed to a gasoline engine. Additionally, these electric cars don’t emit any harmful emissions and don’t use regular liquid fuels like gasoline or diesel. They offer a viable alternative to non-renewable and polluting energy sources and are exceptionally environmentally friendly.
However, it will take some time and effort to make electric vehicles more affordable and available to the average person. Only when the majority of people use EVs will they be considered a true success in terms of their stated objective, which is to be used as a replacement for gasoline or diesel cars.
Governments are progressively putting incentives and charging infrastructure in place to make electric vehicles more affordable for customers. The market for electric vehicles is anticipated to reach USD 917.70bn by 2028, showing a CAGR of 20.6 percent, as per Reports and Data.
Globally, there are several electric vehicle manufacturers. Only a chosen number of them, though, can provide the best products on the market because this industry is one of the most competitive.
In 2022, top ten producers of electric vehicles worldwide are listed as follows:
Tesla
In 2022, Tesla will be the world’s leading automaker. Its ability to drive sales and its role in convincing more people to switch to electric vehicles is unmatched. Ever since it was founded in 2003, it has been the most influential company for introducing electric vehicles into the mainstream market.
They now provide a wide range of models, from high-end sports performance to entry-level sports luxury. Tesla automobiles are renowned for both their industry-leading supercharger network and driver technology (Autopilot and FSD).
The Model 3, a 5-seat sedan, is the most well-liked and economical model offered by Tesla. The most popular electric car type is projected to shortly be replaced by the recently announced Model Y, a medium-sized SUV/crossover.
In the first half of 2020, Tesla held a 28 percent share of the global market.
BMW
BMW is among the greatest EV manufacturers due to their reliable vehicles and top-notch engineering. After serving as a mainstay of luxury vehicles for many years, they have lately expanded their model lineup and entered the electric vehicle market. The company have received favourable ratings in dependability surveys, so customers view them as a reliable business.
The five-seat hatchback i3 is BMW’s most popular electric vehicle. It is lightweight, efficient, and has a small battery, which allows it to cover quite long distances. It has been dubbed the premium little electric car. Both the interior and exterior of it are quite beautifully designed.
BMWi is a sub-brand of BMW that was created in 2011 with the express purpose of designing and producing plug-in electric vehicles. The BMW Group sold 500,000 electric cars in December 2019, including BMWi, iPerformance, xDrive, and MINI models.
Lucid Motors
Given their reputation as a high calibre expert in electric vehicles, it ranks as one of the finest electric vehicle producers. Among electric vehicles now on the market, their battery technology has been lauded as possibly the best.
Luxury automobiles are a major priority for Lucid Motors. The Lucid Air, which has a maximum power of 1111 HP and a range of up to 520 miles, is their flagship model. For those who can afford it, it is also one of the luxury electric vehicles with the fastest charging times on the market.
Nissan
Nissan is another excellent producer of electric cars because they have a long history of producing dependable conventional automobiles and more recently expanded their knowledge into the production of electric vehicles.
Nissan is starting to progressively roll out more cars. They prioritise producing reliable and economical electric vehicles, and one of their models is among the most affordable ones available.
Their most well-known electric car is the Nissan Leaf. It has the pro-pilot assist technology, which makes driving easier for the driver by integrating cruise control with driver assistance. It is a very cost-effective option for a little electric car.
Kia
Due to their reputation as one of Korea’s most dependable and economical automobile manufacturers, Kia is a very trustworthy maker of electric vehicles. They have expanded into the electric vehicle sector and concentrated on producing cars at lower prices while offering superior warranties that include battery replacement.
The Kia EV6 has received numerous accolades and has been hailed as one of the greatest electric vehicles available. This electric SUV is roomy, versatile, and reasonably priced for an electric car. With a driving range of up to 310 miles, it’s a fantastic choice for those who wish to travel farther.
With a combined 6.5 percent of the global market, Kia and Hyundai are ranked fifth globally.
BYD
One electric vehicle producer to watch out for is Build Your Dreams (BYD). They are the second-largest electric car firm in the world and the biggest in China, and their market share and popularity are rising quickly. The company have one of the greatest collections of cars, offering a wide range of sedans, hatchbacks, and SUVs for customers to pick from.
The Han EV, an electric sedan, is the most widely used design worldwide. It can speed from 0 to 100 km/hr in 3.9 seconds and has a range of more than 500 kilometres. The modestly priced Atto 3 EV variant was recently debuted in Australia.
The BYD Blade battery is used in BYD electric vehicles and is of such high calibre that it is also utilised by several other electric vehicle manufacturers.
BYD’s electric vehicles ranked first in global sales for six years in a row from 2014 to 2019. It sold 46,554 units in just the first half of 2020.
Chevrolet
Chevrolet is a fantastic luxury automaker that also produces electric cars. The company is notable because it has been around for more than a century and is well-known historically in the sector. Their battery technology for electric vehicles has garnered numerous accolades.
The company has also won a lot of praise for the exceptional safety ratings of its vehicles. The Chevrolet Bolt is currently their primary electric vehicle model. This vehicle is priced extremely competitively and has a 259-mile range. The corporation has vowed to go all electric by 2035 and has many new models prepared for release soon.
Ford
Ford is a major player in the electric vehicle industry because they are a pillar of the industry that is transitioning to more electric vehicles. Since the birth of the automobile, they have been among the most recognisable car manufacturers, and they are now attempting to get traction in the market for electric vehicles.
Their top electric model is the Ford Mustang Mach-E. It boasts a 314-mile range, accelerates from 0 to 60 mph in 3.5 seconds, and is very reasonably priced. A range extender, which Ford is also in the process of patenting, might be a great feature to add to a variety of their vehicles in the present and the future.
Hyundai
Hyundai, a South Korean automaker, has established a significant position in the electric vehicle market as a result of its quick growth and ambitious goal to sell 1.87 million electric vehicles worldwide by 2030.
Ioniq 5 by the firm has garnered excellent ratings. It is a vintage hatchback SUV with an excellent battery and one of the best electric car ranges of 301 miles. For ultimate comfort, it includes a number of features including memory seating, relaxation mode, and a fairly roomy interior. To top it all off, it offers a fantastic touch screen interface and very well-thought-out safety measures.
Volkswagen
Volkswagen is a significant player in the electric vehicle industry because they are a reputable German automaker with a variety of electric vehicle models.
The company has established a reputation as a manufacturer of dependable vehicles with superior safety features and ample interior space. The ID.4 SUV is their most well-liked electric car.
With all-wheel drive, the ID.4 SUV can accelerate more quickly, and it also boasts clever handling that makes the ride as comfortable as possible. It also includes a wide range of additional amenities, like touchscreen displays that let you have all the controls you require at your fingertips and driver assistance to make driving easier.
In the first half of 2020, it sold 64,542 units, or 10% of the market worldwide.
The best ways to select electric car companies
We considered a lot of aspects before selecting the companies for the list. The first was the wide range of models they offered. A major benefit is having more choices based on people’s budgets and individual demands. Quality is another consideration. This covers battery quality, charging, safety, and general driving performance. Popularity was also taken into consideration because it reveals which brands consumer’s favour. The car models’ intriguing or new features were also recognised.
