Tesla is the biggest name in the Electric vehicle industry Tesla realized a total revenue of US$16.5 billion worldwide, while the total market revenue amounted to US$2.2 trillion in 2019. The largest passenger cars segment, Large Cars, accounted for 48% of Tesla's revenue in 2019.
Tesla's second largest segment was the Large SUVs segment. It accounted for 26% of the makes revenue in 2019. In the market share by revenue category, Toyota (9.5%), Volkswagen (7.4%) and Ford (5.9%) take the lead worldwide. Tesla had a 0.85% market share.
while Tesla is already catching up so many headlines there are some Companies that pouring their time, money and efforts to chase Tesla, so keeping an eye on the Tesla's Rivals here is a list of EV manufacturer that could take a lead in the coming future.
Li Auto (LI)
Li Auto is a Chinese car company and was founded in 2015 which went public on July 2019, opening price of per share was 11.5$ which rose to 43% on its first day. this simply shows that investors are quite interested in Li Auto Electric Vehicle.
Li provides range extender generator that increases the range to 500 miles. This hybrid approach is perfect for an EV in China, where charging station networks have yet to be built out, causing "range anxiety, which limits use cases and impedes the wider acceptance of BEVs (battery electric vehicles) in China. Li has sold roughly of 10400 units within the china and is also now listed in US
Nio (NIO)
NIO is a Chinese Automaker founded in Nov. 2014, In order to decrease the price of the Electric Car Nio decided to Sell its EV without battery which makes it cost competent and easy to buy for users who are cost hesitant. the battery's will be provided in swapping station owned by Nio.
this will decrease the cost of SUV by 25% which is really seems like a discount offer. With just 143 battery stations in China, the company still has plenty of room to grow – and that's exactly what it's doing, with vehicle sales up 146% year over year in the second quarter.
NIKOLA (NKLA)
Nikola is little more famous for the fuel cells powered commercial vehicles such as trucks but it is also working on combining the Fuel cells and battery and use it in the same Electric vehicles. the company's upcoming Pickup truck will drive to 600 miles which really a good mile but not that challenging with a relatively larger battery. Nikola is on mission to hit all the trucks on the road to be electric by 2021. the company has signed a deal to provide Anheuser-Busch InBev (BUD) with 800 trucks to make zero-emission beer deliveries around the country.
CANOO HOLDINGS (CNOO)
Canoo is the new candidate in EV race which has gone public in 2020 and is acquired by Hennessy Capital Acquisition Corp. when its consumer vehicle hits the road in 2022, you won't buy or lease it. Instead, drivers will be charged a monthly subscription fee for Canoo cars, as well as insurance and access to recharging stations.
Canoo plans to target young professionals with this unique value proposition, but in the meantime, the company will utilize its skateboard chassis technology to bring in revenue. The company has partnered with Hyundai and Kia to produce these modular, low-profile chassis, lowering costs for EV production and providing Canoo with a foot in the door of a very competitive industry.
Lordstown Motor
Much like EVs, SPACs are all the rage these days, and DiamondPeak Holdings Corp. (DPHC) isn't about to miss out on the fun. The SPAC has agreed to a merger with Lordstown Motor to bring the company public, which is actually great news for Workhorse – the company has a 10% stake in Lordstown.
Lordstown will be bringing its all-electric pickup truck Endurance to market in 2021, and the company will focus on selling it to business clients rather than consumers. Endurance's four electric motors, one in each wheel, are a unique feature and could help explain the roughly $1.4 billion in preorders for the truck.
That's a great start for a company valued at about $1.6 billion, but considering that Tesla's Cybertruck has more than 650,000 preorders, Lordstown has a long way to go to catch up.
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