Tesla is the clear leader in the EV market, with a market capitalization that is more than twice that of its nearest competitor, Li Auto. Tesla has been producing EVs for over a decade, and it has a strong brand reputation and a loyal customer base.
Highest Electric Vehicle Companies Market Cap in 2023
| Company | Country | Market Cap (Billions USD) |
|---|---|---|
| Tesla | 🇺🇸 USA | $782 |
| Li Auto | 🇨🇳 China | $34 |
| VinFast Auto | 🇻🇳 Vietnam | $21 |
| Rivian | 🇺🇸 USA | $20 |
| XPeng | 🇨🇳 China | $15 |
| NIO | 🇨🇳 China | $15 |
| Lucid Motors | 🇺🇸 USA | $12.3 |
| Polestar | 🇸🇪 Sweden | $5.8 |
| Yadea Group | 🇨🇳 China | $5.4 |
| Leapmotor | 🇨🇳 China | $4.8 |
| Fisker | 🇺🇸 USA | $2.3 |
| NWTN | 🇦🇪 UAE | $2.2 |
| LiveWire | 🇺🇸 USA | $1.4 |
| Nikola | 🇺🇸 USA | $1.4 |
| Olectra Greentech | 🇮🇳 India | $1.2 |
More : Countries in the International Science Ranking 2023
So, The electric vehicle (EV) market is growing rapidly, and Tesla is the leader. Other companies, such as Li Auto, VinFast Auto, and Rivian, are also growing rapidly and are well-positioned to benefit from the continued growth of the EV market.
