Tesla’s main competitors in the electric vehicle market

2 min. reading
E-mobility, Mobility / 7 July, 2022

Karla García Gil Journalist

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Just a year ago, Mizuho Bank conducted an analysis in which it predicted that, over the next few years, the automotive giant Tesla would obtain around 10% of the global electric vehicle market, which undoubtedly caused many other companies to accelerate their electrification plans.

Today, Elon Musk’s company is beginning to lose its leadership in the field. According to a report by Bloomberg Intelligence, Tesla will soon be replaced by Volkswagen, whose cars have become the best-selling in Europe.

Another latent risk for Tesla is the Chinese company BYD, which began to develop its electrification process several years ago and which, by this year, could become the third largest producer of electric vehicles in the world, leaving behind the giants of the sector. According to forecasts, by 2025 the share of vehicles in the Asian company’s sales could rise to 25 percent.

Advantages and disadvantages of electric mobility

Advantages and disadvantages of electric mobility

In recent years, people and governments around the world have become aware of the environmental havoc that the excessive use of fossil fuels and petroleum derivatives has caused globally. As a result, we are beginning to move towards a profound energy change.

The most efficient vehicles

According to Statista data, the efficiency of electric vehicles according to their miles achieved is ranked as follows:

Leading the list is the Air Dream R AWD model manufactured by the U.S. company Lucid, which has the highest range among all electric vehicles reaching 520 miles, and beating Tesla by more than 100 miles, while its Air G Touring AWD model achieves 516.

It should be noted that half of the most efficient models are produced by companies of Asian origin, more specifically, Chinese and Taiwanese. In this sense, we find the Bordrin iEV7 with an estimated range of 438 miles.

Other representatives on the list include the a-T 653S model from the Taiwanese company Arcfox and the Venere Gran Turismo limousine manufactured by LVCHI, both with a range of 408 miles.

Further ahead and just one step before Tesla, we find Thunder Power’s TP488C model, with a range of 406 miles. Next, Elon Musk’s company, qualifies in seventh position with its Model S that reaches only 405 miles.

Finally, there is Mercedes with the EQS 450 Plus and a range of 398 miles.

It is important to emphasize that while such ranking provides an approximate picture of vehicle efficiency, it does not necessarily translate into financial success; for example, Tesla’s net income stood at $5.5 billion in 2021, while Lucid, reported a net loss of $2.6 billion for the same year.

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