Published on 07/12/2021

The EV car market is booming, and if you are finding it difficult to keep up with all the dozens of EV launches that seem to be happening every month, here’s a quick breakdown of every main EV brand in the world and how they are different from one another.

EV technology

The electric car market and technology has made big strides over the past five years. It seems to have gone from being a fringe luxury product / elitist toy to a must-have family vehicle, poised to set new standards in automotive manufacturing and marketing.

Electric car companies that need no intro

Predictions from global analysts say that EV's will be outselling conventional vehicles by 2030. Not only will electric vehicles of all kinds be seen everywhere, but so will charging stations using renewable energy become more ubiquitous.

When electric cars begin outselling internal combustion engines, consumer demand will drive the price of EV's continually downward. The goal is for buying, operating, and charging an EV to be cheaper or comparable to doing the same for gas or diesel vehicles.

1. TESLA

You think EV, chances are you think ‘TESLA.’ Elon Musk founded the company in 2003 to prove that electric vehicles can be beautiful, fast, fun, and far more convenient to drive than cars with combustion engines.

TESLA goal: to create a zero-emissions future and a world free of fossil fuel dependence. TESLA ranks first as far as units sold (close to 180,000 by 2020 Q2), TESLA comprises 28% of the EV market.

What is driving the demand for TESLA cars? Their EV's high performance, ultra-modern design, and innovative, forward-thinking design.

2. Renault-Nissan-Mitsubishi 

A French-Japanese group alliance, this EV motor company sells one in every nine electric vehicles sold worldwide. Together, they produce the iconic Renault Zoe EV and the Nissan Leaf and ESFLOW. They are the leaders in expanding EV range and sustainability.

Goal: To produce mass-market EV's with a decent range and zero-emissions. In 2020 Q2, Renault-Nissan-Mitsubishi stood in second position with global market sales of 65,521 units. They reached a comfortable 10% market share this year.

What is driving the demand for RNM electric cars? EV's like the Leaf and the Zoe are reported to be quiet and responsive with smooth, stable handling. The perfect family vehicle.

3. VW

Producing best selling combustible engine cars since 1937, Volkswagen now sells two different EV models with their offerings: the e-up! and the e-Golf. To date, VW is the third largest producer of EV's, and sells enough electric vehicles to make them the third biggest seller of EV's on the market.

Goal: To produce an increased number of EV's by 2025; VW has invested €30bn into streamlining their EV technology.

What is driving the demand for VW electric vehicles?  VW sold 64,542 units (approximately 10% of the market share) by the end of the second quarter, 2020. It’s the third most popular - if not the best known - EV manufacturer in the world, because a very important market POD - the base price for the e-up! VW EV is around €8,000 cheaper than the rest.

4. China’s BYD

Based in Shenzhen, the BYD EV manufacturing company has been around since the beginning of 1995. The reason for the company’s relatively early emergence into the EV market is because BYD first originated as a manufacturer of rechargeable batteries, solar panels, battery-powered buses, and electric bicycles. They were perfectly poised to enter the EV market with the infrastructure they already had in place.

Between 2014 and 2019, BYD ranked first place in global EV sales.

Goal: BYD aims to take on other EV models and brands currently dominating western markets by developing EV's that are both intelligent and interconnected to a global grid.

What is driving the demand for BYD electric vehicles? China quietly gets on with producing and bringing solar power and electric-based transport to the masses. In Q2 2020, BYD crept into the number four spot (7% of the global market) in EV sales, selling 46,554 units. The price of their most popular EV model, the e6, is comparable to those offered by the Renault-Nissan-Mitsubishi Alliance and TESLA.

5. Hyundai Kona

At the end of 2020’s second quarter, Hyundai announced Kona Electric global sales of over 100,000 units. And in the first month of the third quarter (Q3), they
beat the previous month’s record by reporting a turnover of almost 8,500 Kona Electric units - an 8.6% increase from the previous year.

It is expected that the Kona Electric will propel Hyundai into the elite EV 10,000 units per month club.

Goal: To keep the demand for Kona Electrics high in Europe and delivering on sales and aftersales service. 

What is driving the demand for Kona EV's? The model is in direct competition with the Renault-Nissan-Mitsubishi Leaf for the title of most popular and best selling electric car. While the Kona is aiming at the mid-price EV market, and offers a great driving range and comfort level, some issues have been raised over the interior trimmings and fittings. For its selling price, they could be better.

Conclusion

Electric cars are the new normal, there’s no doubt about that. The car companies already in play are advancing features, designing new models, and expanding the range of their vehicles all the time.

The top five electric car manufacturing companies - the Big Five - TESLA, BYD, VW, RNM, and the Hyundai/Kia group, are likely to stay the main players on the stage for some time yet to come. They are just too far ahead in the race, and because of this, expect to see them bring EV car prices even lower by 2025.