Top 5 Electric Car Companies of 2022

Top 5 Electric Car Companies of 2022

From Tesla to XPeng—we round up the top five electric vehicle producers that should be on your radar this year.

Business and political conversations in recent years have shown that you simply cannot talk about progress without mentioning sustainability. Startups and big corporations are having to upgrade their business models to factor in climate change and the environment. Shoppers have taken notice, too. That’s why many are shifting to driving electric cars to reduce their carbon footprint and encourage the use of green energy. If you are planning to switch too, check out our lowdown on the top five electric car companies in the world.

Tesla

On January 3, 2022, Tesla CEO Elon Musk’s fortune crossed US$300 billion, thanks to Tesla’s shares rising 13.5%. Tesla has been touted as the pioneer of electric cars in the world. Founded in 2003, the company rose to fame with the world’s first ever premium all-electric sedan named Model S. From a startup to a benchmark, the company’s progression has been an inspiring one. 

In an interview with Time magazine, Musk said, “Our intent with Tesla was always that we would serve as an example to the car industry and hope that they also make electric cars, so that we can accelerate the transition to sustainable energy.” In 2023, Musk plans on launching a US$25,000 self-driving electric car without steering wheels or pedals.

Nio

“They may be beautiful, but you can’t wear them every day,” Nio CEO, William Li, remarked on Tesla cars during an interview, comparing the cars to high fashion. Li, dubbed the “Elon Musk of China”, launched the Shanghai-based electric car company Nio in 2014, aiming for it to become a “customer-based company”. The company is among the most coveted electric vehicle producers in the world. In December 2021, Nio revealed an all-electric ET5 sedan, its second car, along with augmented reality (AR) glasses to replace in-car screens. The company plans on dominating the world by reaching 25 countries by 2025

Lucid Motors

Founded in 2007, this Silicon Valley startup is known for its luxury electric vehicles. As of January 5, 2022, the company was valued at US$65 billion. Lucid Motors is also renowned for housing the best battery technology. However, the startup’s journey has not been without its challenges. In an interview, Lucid Motors CEO Peter Rawlinson said about their debut model Air Sedan, “The biggest challenge I’ve always faced was getting money, not going bankrupt [and] having that investment as a startup to develop this.” Of its future plans, the company tweeted, “Expansion to European markets will begin this year. Stay tuned for country-specific delivery information.”

Rivian

This Amazon-backed electric truck startup was valued at greater than US$100 billion in December 2021. Rivian’s journey has been a long but rewarding one, having launched in 2009 and gone public in 2021. The company’s Initial Public Offering (IPO) turned out to be the sixth largest one on a U.S. stock exchange, achieving an overall valuation of US$80 billion. On the inspiration behind Rivian, Founder and CEO, RJ Serange, revealed, “I started to realize that vehicles are at the center of so many of the challenges we have—local air quality, climate change. And I became really bummed that these things I loved are such a source of problems for our planet. And that was the reason I started Rivian.” The company plans on building a second factory worth US$5 billion in Georgia. 

XPeng

XPeng Motors, one of China’s top electric carmakers, was founded in 2014 in Guangzhou. Backed by Alibaba and Foxconn, the startup is known for its driverless system Lidar, the light detection and ranging technology supported by the advanced driver-assisting application XPILOT. During an interview, the Vice President In-Charge of Autonomous Driving at Xpeng, Xinzhou Wu, mentioned, “We are definitely a few steps ahead, you know, as compared to most of our competitors. So we are pretty confident that we can win this race even with more newcomers into this space.” In 2022, the company plans on entering Sweden, Denmark and the Netherlands. “As a company that focuses on global opportunities, we want to be balanced with our contribution of delivery—half from China, half from outside China—in the long run,” Vice President and Chairman, Brian Gu, told CNBC.

These top five electric car companies are not just great for those wishing to purchase a more eco-conscious and future-forward car in 2022, but, for electric vehicle startups who want to up their game this year, they are also noteworthy examples to pay heed to. 

Header Image by Flickr

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Top Must-Follow Productivity Influencers in 2023

Top Must-Follow Productivity Influencers in 2023

Productivity is a key aspect of success in today’s fast-paced world. Being productive enables individuals to balance their work and personal lives effectively while accomplishing their goals efficiently. To help you stay on track and reach your full potential, we’ve identified top influential productivity experts who provide valuable insights to maximize your efficiency in 2023.

What Can Drones Be Used For, and Do They Have a Future?

What Can Drones Be Used For, and Do They Have a Future?

In January 2023, Australian soldiers used drones to search for a missing woman. The drones helped them reach areas that might have been too challenging for a human to enter. For the past few years, the drone economy has been booming. Global investments in the industry amount to US$1.15 billion, with China leading the market.

2022 FIFA World Cup

The Most Controversial VAR Decisions at the 2022 FIFA World Cup

The footballing world has welcomed many new technological developments in recent times. Its goal is to make decision-making more accurate and provide a better experience for players and fans alike. These technologies include the video assistant referee (VAR), semi-automated offside technology (SAOT) and sensor-equipped footballs, all used extensively during the 2022 FIFA World Cup in Qatar.

Self-funding Your Startup? Follow These Expert Tips from Proven Entrepreneurs

Self-funding Your Startup? Follow These Expert Tips from Proven Entrepreneurs

Starting a new business can be an exciting and challenging endeavor, with securing funding being one of the biggest obstacles. Traditional funding options, such as venture capital and angel investing, can be time-consuming, especially for new and untested businesses. In such cases, self-funding, or “bootstrapping”, might be a viable option.

Navigating Ghost Job Postings: How to Avoid Them

Navigating Ghost Job Postings: How to Avoid Them

Job searching can be a daunting task, especially with the risk of encountering scams or fraudulent job postings. Ghost job postings, which refer to open job positions that are not actively being filled, are a common issue that jobseekers should be aware of. According to a survey by New York-based financial consultancy Clarify Capital.

Can AI Help You Flirt Better

Can AI Help You Flirt Better?

“Excuse me, but I think you dropped something: my jaw.” This is the pick-up line the famous artificial intelligence (AI) chatbot ChatGPT dished out when we asked for some viable options. Not the most original, sure, but not bad for a trained algorithm.