Traditional ICE vehicle manufacturers as well as new start-ups are
hopping on board the electric vehicle train. With new models
released each year, one thing is clear: EVs are not going anywhere.
Here are some of the biggest players in the EV game.
Hyundai
South Korean manufacturer Hyundai has been in the EV game
since the 1990s. Its 2016 release of the Ioniq to rival the Toyota Prius
was a major success, even launching as its own new electric brand
beginning in 2020. The company began developing smaller
crossovers in the mid-2010s, with the Kona (available as HEV and
BEV) releasing in 2017. The Kona has been a top selling EV model
since its release. It announced in mid-2021 that it planned to invest
US$7.4 billion in EV production, production facility, and smart
mobility.
Volkswagen
The German motor vehicle manufacturer
was founded in 1937.
Historically famous
for its iconic Beetle and VW Bus, the
company's turned to the emerging EV
market with electric ID line of vehicles.
Volkswagen says it anticipates up to 22
million vehicle sales by the end of the
decade, and it will be interesting to see
how the manufacturer meets its goals
with its new operations strategy.
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Kia
Founded in 1944, Kia is the second largest automotive OEM in
South Korea. Minority owned by Hyundai, the two companies hold
the 4th largest share in the global EV market (as of March 2020).*
Kia has promised to invest over 10 trillion won (US$8.98 billion) in
future mobility and the company aims to fulfill 11 EV models by
2026, with sales to 1.6 million units by 2030. The company seems
well on its way, with surges in sales of the Kia Niro and XCeed PHEV.
Tesla
A relatively new player into the game,
Tesla has only been in the
industry for 15 years, but time was not a factor: this electric /
connected vehicle manufacturer was the 2019 market share leader
and reported in 2020 that it could reach 20 million vehicles by 2030.
Its electric vehicles have become some of this generation's
favorites, with its performance capabilities and technological
details. What it lacks in automotive legacy, it's making up for in
quick worldwide expansion. The company will be building new
factories in Texas and Germany, opening by 2022.
BYD
"Build Your Dreams" Auto is a Chinese automaker based in Xi'an,
China. The company is backed by US billionaire Warren Buffet, and
it recently announced that it has shipped off its first batch of
vehicles to Norway. Chinese automakers and startups are
strategically marketing to the European Union, where EV adoption
has gone at a faster pace. In Norway, EVs have dominated new
passenger car sales since 2018.
