The first electric SUV from Volkswagen’s luxury Audi brand, the e-tron, can go 400 KM (nearly 250 miles) on a single battery cycle and be recharged in as little as half an hour. But Tesla still reign supreme among electric car companies, ever since it first released the Roadster back in 2008. So, who will dominate the market in 2025?
Tesla ended 2020 with 23% of the EV market and recently became the first automaker to hit a $1 trillion market capitalization.
Competitors like Volkswagen hope to accelerate their own EV efforts to unseat Musk’s company as the dominant manufacturer.
❗ FUN FACTS ❗
➡️ According to the International Renewable Energy Agency, around 20% of all vehicles on road in Southeast Asia will be of the electric variety by 2025.
➡️ In China, BYD sold more than 284,000 EVs in Q1 2022 (including plug-in hybrids), more than any other automaker. Tesla sold around 182,000. Excluding plug-ins, BYD sold over 141,000 fully EVs, trailing Tesla.
➡️ The 3rd largest EV seller in China by unit sales was SAIC-GM-Wuling, a JV between SAIC, GM, and Wuling Motors.
➡️ GM is making a big push into pure EVs, with more than 30 new models expected by 2025.
➡️ Ford expects 40% of its vehicles sold to be electric by the year 2030.
➡️ In terms of brand awareness, Tesla still surpasses all others. More than ¼ of shoppers in the US who are considering an EV said Tesla is their top choice.
➡️ In the US, Tesla recently surpassed Audi as the 4th largest luxury car brand in 2020, just behind BMW, Lexus, and Mercedes-Benz.