Sales of electric vehicles reached a record high in 2022, and the trend is anticipated to continue as more models enter the market each year. Nearly every significant automaker sells an EV, while some only market electric cars. However, consumers may think, “What are the top electric car companies I should consider?” given the wide range of manufacturers available. So in this article, we are listing the top electric vehicle companies and stocks you can invest in.<\/p>
A vehicle that propels itself using one or more electric motors is referred to as an electric vehicle. It can be powered by an electrical collector system, electricity from extravehicular sources, or it can run on battery power alone.<\/p>
Technology for electric vehicles has advanced significantly, moving from being a niche luxury item to the new norm in the automobile industry. Sports cars, delivery trucks, bikes, and many other things made to make travel simpler, faster, and more environmentally responsible are now available as electric vehicles.<\/p>
Transportation is just one of several industries that technology businesses from all backgrounds are attempting to make more sustainable. Many people are seriously considering electric vehicles as a feasible and more effective option because of concerns about the environmental effects of gas and diesel-powered engines. <\/p>
Most EV stocks’ charts continue to be strained. In general, both established manufacturers and start-ups are making speculative bets on the expansion of electric vehicles, which are still considered to be in their infancy. Recent bear market falls were led by growth stocks as a result of growing inflation and rate rises.<\/p>
According to market capitalization, Tesla is the best-rated auto and EV stock, with an IBD Composite Rating of 67 and an EPS Rating of 92. The RS Rating for Tesla (TSLA) is 28, which indicates that over the past year, it has outperformed 28% of all the companies in IBD’s database.<\/p>
The Composite Rating, EPS Rating, and RS Rating for Allegro MicroSystems (ALGM) are all 99. The rapidly expanding company manufactures magnetic sensing and power management semiconductors in Manchester, New Hampshire. The automobile industry accounted for 69% of this chipmaker’s sales in the previous year.<\/p>
Sigma Lithium (SGML) has an EPS Rating of 10, an almost flawless RS Rating of 97, and a Composite Rating of 56. By creating affordable and ecologically friendly lithium products, the Canadian miner hopes to encourage the proliferation of electric vehicles. Bloomberg claims that Tesla has launched a bid for the lithium stock Sigma Lithium. At its facility in Brazil, Sigma is prepared to launch commercial lithium production. Spodumene concentrate, a source of lithium hydroxide for EV batteries, will be produced by the Brazilian mine.<\/p>
Tesla Motors opened the door for mainstream EV adoption and is today by a considerable margin the most well-liked manufacturer of electric vehicles. Although the Tesla Roadster was the first model to be released, the more useful Model S sedan propelled the firm to new heights. From the sizable infotainment tablet to the long battery life to the spine-tingling acceleration, it established several Tesla trademarks.<\/p>
The Tesla Model X, which was the company’s first SUV and is now one of the only EVs with room for up to seven passengers, followed. The distinctive falcon-wing back doors had a great aesthetic, but they were troublesome since they occasionally opened at an unusual angle and hindered owners from mounting things on the roof. However, the Model X remains one of Tesla’s best-selling models to date.<\/p>
The I series represents BMW’s electrified-only automobiles. The brand’s first electric vehicles were the elegant i8 plug-in hybrid sports car and the little i3 hatchback (either as a pure EV or with a two-cylinder gasoline range-extender). However, the current lineup from BMW includes the i4 compact sedan, i7 executive sedan, and iX midsize SUV, all of which are electric-only vehicles. <\/p>
With the Ford Focus Electric, Ford dipped its toes into the EV arena, but it had a limited range, only reaching 115 miles in later model years. Ford created more of a stir when it unveiled the Mustang Mach-E for the 2021 model year. The Mach-E turned out to be one of our favorite EVs when the controversy over the use of the Mustang moniker as an electric SUV subsided. <\/p>
The Edmunds Top Rated Luxury EV award for 2021 was later given to it.<\/p>
After the outstanding Mach-E, Ford hit another home run with the F-150 Lightning. The gas-powered performance F-150 SVT Lightning pickup from the late 1990s to early 2000s served as the inspiration for the F-150 Lightning, which followed in the same footsteps. The F-150 truck’s functionality and power were combined in the all-electric Lightning with a cleaner, quieter electric motor. The F-150 received the Edmunds Top Rated Best of the Best title for 2023 because our editors thought it was the best vehicle.<\/p>
The I series represents BMW’s electrified-only automobiles. The brand’s first electric vehicles were the elegant i8 plug-in hybrid sports car and the little i3 hatchback (either as a pure EV or with a two-cylinder gasoline range-extender). However, the current lineup from BMW includes the i4 compact sedan, i7 executive sedan, and iX midsize SUV, all of which are electric-only vehicles. The most recent iteration of BMW’s iDrive operating system is one of several technological features packed into these more recent models.<\/p>
With the infamous EV1, General Motors began producing modern electric vehicles in the late 1990s. It was a compact electric vehicle that, given the lack of a market and charging infrastructure, was maybe ahead of its time. Furthermore, it was too expensive for GM to turn a profit. Consider the year 2017 when the carmaker unveiled the Chevrolet Bolt EV. The launch of the Bolt coincided more advantageously with the success of the innovative Tesla Model S and the affordable Nissan Leaf, both of which demonstrated how consumers were beginning to accept electric cars. <\/p>
Hyundai and Kia, two South Korean automakers, have achieved significant advancements in the EV market recently. They began with existing gas-powered automobiles with electric power, the Hyundai Kona Electric and the Kia Niro EV. Both compacts shot to the top of Edmunds’ ranks for EV SUVs. The Hyundai Ioniq 5 and the Kia EV6, the automakers’ upcoming pair of electric SUVs, respectively made an impression with their nostalgic and futuristic looks. With the introduction of the Ioniq 6 sedan, the selection is expanding. The Ioniq 5 was recently crowned the Edmunds Top Rated Electric SUV. The EV9, a three-row electric SUV from Kia with a targeted range of more than 300 miles, will go on sale later this year.<\/p>
Volkswagen created an electric car from the ground up after a brief experiment with the e-Golf (an electric variation of the Golf compact hatchback). Its new ID sub-brand debuted with the ID.3, which was available only in Europe, but in the United States received the larger ID.4 small SUV. The ID. Buzz electric van, with its vintage style influenced by the vintage VW Bus, will make its premiere in 2024. We’ll see the ID.7 electric vehicle shortly after that. As part of its Accelerate strategy, Volkswagen aims to place more focus on software integration in addition to expanding its array of electric vehicles.<\/p>
The luxury division of Volkswagen, Audi, offers a respectable but somewhat perplexing assortment of electric automobiles. The Q4 e-tron compact SUV and its Sportback variant are at the entry-level and share a base and powertrains with the VW ID.4. The larger Q8 e-tron SUV, originally the Audi e-Tron, comes next. It also offers a Sportback model, and an upcoming Q8 Sportback will be available. The ultra-luxury e-tron GT sedan and its high-performance counterpart, the RS e-tron GT, are the last two options.<\/p>
With the introduction of the B-Class Electric in 2014, Mercedes-Benz ushered in the current era of electric automobiles. This van-like hatchback, which was based on the B-Class for export only, had a range of only approximately 100 miles. The EQS big sedan, however, was the brand’s first car made specifically to be an electric vehicle from the bottom up. <\/p>
The EQS is essentially identical in size and price to the S-Class, despite the fact that the two vehicles are very different because Mercedes utilizes a naming scheme similar to the one for its gas-powered vehicles but with the addition of the letters “EQ” in front. The sole vehicle in the EQ lineup that is virtually an electric version of a gas car (in this case, the GLB) is the EQB, a small SUV at the bottom end of the range. The EQE sedan, which is a substitute for an E-Class, comes next. <\/p>
Ford Motor Company is a worldwide automaker with headquarters in the US that creates, assembles, and provides maintenance for a variety of vehicles, including cars, sport utility vehicles (SUVs), and commercial vehicles. Additionally, it creates EVs such as the Focus Electric, Mustang Mach-E, F-150 Lighting, and E-Transit. In addition, the business is spending money on creating linked car technology, which will permit communication between automobiles and the local infrastructure.<\/p>
Honda Motor Company is a worldwide company with its headquarters in Japan that makes marine engines, power equipment, cars, and motorbikes. It offers a large selection of hybrid and all-electric cars, including the Clarity, Accord Hybrid, Insight, and Honda-e. Additionally, the business has joined forces with General Motors (GM) to provide affordable EVs and next-generation battery technology.<\/p>
Niu Technologies creates and produces electric bicycles, motorbikes, and scooters for urban use. Additionally, the business provides maintenance services, accessories, and spare parts.<\/p>
Proterra offers infrastructure for electric vehicles through its three business units, Proterra Powered, Proterra Energy, and Proterra Transit. The company creates end-to-end charging technology, electric transit buses, drivetrains, and batteries for electric vehicles for commercial use. At its brand-new battery manufacturing facility in South Carolina, the company created its first Proterra Powered EV Battery in January A council dedicated to international trade policy, President Joe Biden’s Export Council, has named CEO Gareth Joyce to its membership, according to Proterra.<\/p>
BYD creates and manufactures electric automobiles and related goods. The business offers lithium-ion and Nickel batteries for electric cars, power tools, and phones. Equipment for rail transit is also produced by BYD.<\/p>
The top three global EV companies by market capitalization are examined below. In order to keep things simple, we have only listed significant automobile producers that make both EVs and conventional combustion-engine-powered vehicles, not pure EV firms.<\/p>
The largest EV producer worldwide, Tesla has a market valuation of more than $580 billion. There are several characteristics that set Tesla apart from other automakers, but its supply chain stands out as the most significant. The Texas-based business stands out from the competition thanks to its agile manufacturing, in-house software management, and few SKUs. Although Tesla is infamous for keeping the location of its material suppliers a secret, the usage of silicon carbide in its EV processors sets them apart.<\/p>
With a market worth of $25 billion, Li Auto, a Chinese EV maker, comes in second place to Tesla. The company, which Tesla has mostly disregarded, takes pleasure in being a prominent pioneer of large-scale extended-range EVs (EREVs) in China.<\/p>
The automaker’s first model, the Li ONE, is a six-seater EREV SUV. The vehicle’s range and engine performance are remarkable when compared to pure EVs. The business is frequently referred to as “China’s Toyota.”<\/p>
Another Chinese EV manufacturer, NIO, has a $16 billion market worth and a diverse array of vehicles. There are various svelte cars in addition to mid- and large-sized SUVs. Before being surpassed by the Rimac Nevera in 2022, NIO’s EP9 supercar set the record for being the world’s fastest electric vehicle in production in 2017.<\/p>
One of the world’s top producers and innovators of electric vehicles is Tesla. One of the first businesses to perfect EV design was this one. The company creates solar panels intended for use in homes and businesses in addition to creating and selling high-speed electric vehicles.<\/p>
By market capitalization, Tesla (TSLA) is without a doubt in the top spot among the biggest manufacturers of electric vehicles. In the final quarter of 2022, the EV powerhouse built and delivered over 405,000 units.<\/p>
Investing in electric vehicle stocks, which have increased since the 2020 presidential election, has various benefits. More than 1 million employees are anticipated to be created by EV businesses. Including domestically produced electricity in the clean energy sector may also be advantageous for manufacturers of electric vehicles. There are also potential tax benefits, but many previously qualified EVs won’t continue to qualify given the impending April 18 deadline and rigorous criteria for the $7,500 eligible credit.<\/p>