There’s a new top EV manufacturer
BYD has toppled Tesla as the top manufacturer of electric vehicles in a new ranking released by ABI Research.
A recent competitive assessment by the global technology intelligence firm narrowly placed BYD ahead of Tesla. The assessment provides an in-depth examination of the products offered by 18 OEMs across a wide range of criteria.
The companies evaluated and ranked are categorized into three groups:
- Market Leaders: BYD, Tesla
- Mainstream: GAC Aion, General Motors, Hyundai-Kia, Stellantis, Volkswagen, XPENG, ZEEKR
- Followers: BMW, Ford, Honda, Mercedes-Benz, NIO, Nissan, Renault, Toyota, Volvo
“The EV market is rapidly growing and is the clear future of the automotive industry,” explained Dylan Khoo, industry analyst at ABI Research. “OEMs have had widely differing responses to the EV transition as an opportunity and a challenge; some have fully embraced the technology, while others are being dragged into it against their wishes. This is reflected in their innovation and implementation capabilities,” explains
The analysis was based on nine criteria, segmented between innovation and implementation clusters. These included the OEMs’ battery technology, platform design, coverage of different vehicle segments, and electrified share of sales. BYD and Tesla stand out as the overall market leaders, with electric-only brands from China such as ZEEKR, XPENG, and GAC Aion also notable for their strong performance in the innovation rankings.
BYD, the Chinese OEM, has taken the top spot ahead of Tesla, which scored highly in vehicle range, platform innovation, and fast charging capabilities. BYD, however, significantly outperformed Tesla with its degree of vertical integration and the number of models it offers in different segments.
BYD, however, is not sold in North America as passenger vehicles. Federal leaders in both Canada and the U.S. placed 100 per cent tariffs on Chinese exports of Chinese-made EVs, aluminum and steel.
“The automotive industry is in a state of transition, and this assessment demonstrates the varying capabilities of OEMs as they try to make it through this period and come out on top. In some areas, the new upstart EV brands are a generation ahead of many ‘legacy OEMs’. The incumbents must look to technology solutions providers to revolutionize their capabilities and ensure they can maintain their position as the industry electrifies,” Khoo observed.
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