5 Biggest Electric Vehicle Companies in the World

In this piece, we will take a look at the five biggest electric vehicle companies in the world. For more companies, head on over to 20 Biggest Electric Vehicle Companies in the World.

5. Lucid Group, Inc. (NASDAQ:LCID)

Market Capitalization as of November 12, 2022: $21.69 billion

Lucid Group, Inc. (NASDAQ:LCID) is an American company that designs, manufactures, and sells electric vehicles. The firm also makes and sells powertrains and battery systems. It is headquartered in Newark, California, the United States.

Lucid Group, Inc. (NASDAQ:LCID) has the backing of Saudi Arabia’s sovereign wealth fund, and it announced in November 2022 that it had signed a deal with an associate of the fund for an additional $915 million in financing. This will prove crucial to the company as it scales up its production. Lucid Group, Inc. (NASDAQ:LCID) is currently worth $21.69 billion on the stock market.

4. Rivian Automotive, Inc. (NASDAQ:RIVN)

Market Capitalization as of November 12, 2022: $30.83 billion

Rivian Automotive, Inc. (NASDAQ:RIVN) is an American company that manufactures electric passenger trucks and sports utility vehicles. The firm is headquartered in San Jose, California.

Rivian Automotive, Inc. (NASDAQ:RIVN) posted a strong set of results for its third fiscal quarter, which saw the firm grow its production volume to 7,400 vehicles by 3,000 vehicles and its reservations by 16,000 to 114,000. At the same time, it improved its capital burn rate and reduced the need for further capital injection. RBC Capital kept an Outperform rating on the shares in November 2022, even though it reduced the share price target to $50 from $61 due to the firm pushing the release of a model by one year. Rivian Automotive, Inc. (NASDAQ:RIVN)’s latest market capitalization sits at $30.83 billion.

Rivian Automotive, Inc. (NASDAQ:RIVN)’s largest investor is Phillippe Laffont’s Coatue Management which owns 18 million shares that are worth $485 million.

Baron Funds mentioned the company in its Q3 2022 investor letter. Here is what the fund said:

“Rivian Automotive, Inc. (NASDAQ:RIVN) designs, manufactures, and sells consumer and commercial electric vehicles (EVs). Shares of Rivian were up 28% in the third quarter driven by second quarter production that beat expectations, a new partnership with Mercedes Benz, and the positive potential impact of the recently announced Inflation Reduction Act on accelerating broader EV adoption. While Rivian continues to be impacted by supply-chain issues that are causing delays in its production ramp, it is addressing the challenges by diversifying its supply chain to alleviate shortages while also consolidating the number of variants in development to reduce cash burn (the company guided that current cash will be enough to support the company’s future platform launch R2 in 2025). The company also recently reported stronger than-expected third quarter production results while reiterating its annual guidance of producing 25,000 units. As semiconductor shortages ease, we believe the company will be able to rapidly ramp its production. While we retain conviction in the shares given the company’s vision, product positioning, relationship with Amazon.com, and strong balance sheet, we have reduced the size of our position.”

3. Ford Motor Company (NYSE:F)

Market Capitalization as of November 12, 2022: $58.30 billion

Ford Motor Company (NYSE:F) is an iconic American car manufacturer that is also one of the oldest of its kind and is credited to have pioneered both the modern day automobile and mass production. The firm was set up by the legendary Henry Ford in 1903 and is headquartered in Dearborn, Michigan.

Ford Motor Company (NYSE:F) delivered 5,261 electric vehicles during October 2022, which let the firm double the deliveries annually. The firm has delivered 31,144 Mach Es this year. Its market capitalization sits at $58.30 billion.

Ford Motor Company (NYSE:F)’s largest investor is D.E. Shaw’s D E Shaw which owns 23 million shares that are worth $257 million.

2. General Motors Company (NYSE:GM)

Market Capitalization as of November 12, 2022: $58.40 billion

General Motors Company (NYSE:GM) is one of the largest American automakers. Courtesy of its scale and experience, the firm has also become one of the largest electric vehicle companies in the world. It is headquartered in Detroit, Michigan.

General Motors Company (NYSE:GM)’s rapid growth in the electric vehicle segment is evidenced by the fact that during the third quarter of this year, it had sold 15,156 vehicles which marked a significant 236% annual growth and a 4.7% sequential growth. The firm has a $58.30 billion market value.

General Motors Company (NYSE:GM)’s largest investor in our database of 895 hedge funds is Warren Buffett’s Berkshire Hathaway which owns 52 million shares that are worth $1.6 billion.

1. Tesla, Inc. (NASDAQ:TSLA)

Market Capitalization as of November 12, 2022: $609.66 billion

Tesla, Inc. (NASDAQ:TSLA) is the world’s leading electric vehicle manufacturer which is widely credited with having disrupted the industry and leading the charge to environmentally friendly vehicles. The firm is headquartered in Austin, Texas, the United States.

Tesla, Inc. (NASDAQ:TSLA) is rapidly expanding its presence in China, which is slated to be one of the largest electric vehicle markets in the world. The company announced in November 2022 that it had added 43 charger stations and 174 Superchargers in the country in October. It further plans to increase these to 26 more cities this month. Tesla, Inc. (NASDAQ:TSLA)’s market capitalization is greater than all the other firms on our list combined, with a whopping $609 billion in value.

Catherine D. Wood’s ARK Investment Management is Tesla, Inc. (NASDAQ:TSLA)’s largest shareholder through a $1 billion stake that comes courtesy of 1.4 million shares.

Disclosure: None. You can also take a look at 15 Biggest Insurance Companies in the World and 10 cheap ESG stocks to buy now.

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