As the world’s auto-market begins to see major change on an industrial scale, not seen since the revolutionised automotive assembly production line by Henry Ford in 1913, the electrifying excitement surrounding the growth of the up-and-coming Electric Vehicle (EV) market means that buyers have a multitude of motors to choose from. As of 2020, more than 20 countries, provinces and states globally, mostly in Europe and North America, proposed to phase out new sales of Internal Combustion Engine (ICE) passenger cars or to only sell new electric models in the 2025–2050 time frame. The rising competition of EV automakers is already felt by traditional car manufacturers, many of whom now offer or are developing their own models suitable for the EV market.
Pocket Box takes a look at the 5 biggest EV companies in terms of market capitalisation, examining the most expensive and the cheapest models produced by each corporation, and comparing them to the top 5 cheapest and most expensive vehicles on offer by the 5 biggest automakers. (N.B. Some models not on offer to the U.K. market yet).
Biggest EV Companies- Cheapest VS Most Expensive Models
Founded in 2014, the Chinese manufacturer is a newcomer to the world of electric cars, however, their ever-growing presence has made a big impact thus far, their open market value coming in at $31.56 billion. The Xpeng P5 Sedan was launched in China in October 2021 and is yet to be made available on a global scale, with plans to reach the European market in 2022. He Xiaopeng, Chairman & CEO of XPeng commented:
With the P5, we have delivered a new level in sophistication and technological advancement for smart EVs in China, at a competitive price point. We believe this is an age of intelligence, and that intelligence will redefine mobility as a whole.
As per the Chinese regulator, the ranges offered are quite substantial; between 460 km, 550 km and 600 km per litre. It also takes just 40 minutes to charge from 30 to 80 per cent. With 208bhp and the ability to do 0-62mph in 7.5 seconds, the P5’s price range comes in at a minimum of $25,000 (£18,454), as Xpeng looks to rival Tesla’s Model 3 when it is released for the first time to the world.
The high-tech equipment attached to the Xpeng P7 has brought the car price to $49,370 (£36,440), but buyers will be getting up-to-date EV technology: including 31 autonomous driving sensors;12 ultrasonic sensors; 10 autonomous driving high-sensitivity cameras and sub-systems; 5 high-precision millimetre wave radars and 4 autonomous driving surround-view cameras. All of which gives the XPeng P7 omnidirectional perception to supervise the changing surrounding environment.
All versions of the P7 are powered by a 263bhp electric motor driving the rear wheels, with the Performance version adding a 161bhp motor to the front. The single-motor Super Long Range model, which uses an 81kWh battery pack, is capable of delivering 439 miles before needing to recharge, having the capability to go 0-62mph in 6.7 seconds.
a.) ES6 SUV:
The company website states that the vehicle is an “all-round smart electric SUV with an impressive 4.7-second sprint from 0 to 100 km/h and a NEDC range up to 610 km, the ES6 comes as a sophisticated and progressive mobile living space.” Moreover, the SUV is equipped with NIO’S in-house developed NIO Pilot, empowered by Mobileye EyeQ4, boasting over 20 driver assistance features and supports firmware-over-the-air updates.
The Chinese company’s goal is to serve users in more than 25 countries and regions worldwide by 2025, including the United States, Western Europe, Australia and New Zealand. With the vehicle’s price starting at $55,000 (£40,585) and an increasing market cap of $31.15 billion, we may begin to see more cars made by the world’s 4th biggest EV company on the roads soon, watch this space.
The EP9 can accelerate from 0 to 100 km/h (62 mph) in 2.7 seconds, 200 km/h (124 mph) in 7.1 seconds, and 300 km/h (186 mph) in 15.9 seconds, as demonstrated by Richard Hammond in Amazon Prime’s, The Grand Tour. The car can achieve a top speed of 350 km/h (217 mph).
While not considered road-legal, the car’s battery can last up to 427 km (265 miles) before it needs to be charged. Recharging takes 45 minutes, and battery replacement takes 8 minutes as the batteries need to be removed when recharged. Designed for the racetrack only, this EV supercar will set you back a cool $3.48 million dollars (£2.54 million), but be quick to purchase one as VIO only intends to make an additional 10 for public use, after 6 were purchased by VIO investors upon their release.
3.) Lucid Motors
a.) Air Pure:
The American motoring manufacturers, with a net market share of $44.4 Billion, have been on the market since 2007, originally under the name Atieva, with a sole focus on building electric vehicle batteries and powertrains for other vehicle manufacturers. However, they announced their intentions to develop all-electric, high-performance luxury vehicles back in 2016. In November 2020, the Lucid Air Pure, the cheapest model on offer, was announced with 406 miles (653 km) of projected range and 480 horsepower (360 kW) and a starting price of $77,400 (£57,103).
The Lucid Air Pure is currently in production and it is expected to reach U.K. consumers by December 2022.
b.) Air Dream:
The Lucid Air Dream is the top-of-the-line model offered by Lucid Motors and is produced in 2 editions; Dream Edition P is optimised for speed and performance, while the Dream Edition R maximises range, with both models enabling a top speed of 168mph, enabled by the dual motors powering four wheel drive.
The two models both come in priced at $160,000 (£118,042), with the Edition R able to do 0-60mph in 2.5 seconds, this is an electric luxury sedan that can drive 481-520 EPA-certified miles on a single charge, whereas the Edition P is able to make 1,111 bhp and offers a range of 451-471 miles before charging is necessary. The 19.2-kW onboard charger should replenish the battery in less than seven hours, as long as the electrical feed charging it is powerful enough to do so. The car was first released for sale on the U.S. market in late 2021 but Lucid Motors only had a limited supply produced, there is currently a waiting list for this EV, with it expected to reach Europe by the end of 2022.
a.) R1T Pick-up Truck:
Winner of the 2022 Motor Trend ‘Car of the Year’ award, the BBC’s Top Gear described this ‘monster’ truck, with a gross weight of over 3 and a half tonnes, as “the truck market’s game-changer”. American EV giants, Rivian, with a market value of a whopping $51.55 billion on the stock exchange, first announced the concept for the R1T pick-up back in 2018, originally branding it as the “A1T”, before sticking with the current name. The vehicle is the ideal off-road vehicle; offering 4 wheel drive powered by 4 motors in the wheels, a reinforced underbody shield with tow hooks, a “camp kitchen”—two electric cooking elements, a sink, plus 30 pieces of outdoor cooking/dining equipment—that collapses into the R1T gear tunnel, as well as a roof-top tent for three, as per the package the customer purchases.
Additionally, the R1T’s top speed falls in at 110 mph, hitting 60mph from 0 in about 3 seconds. The truck can do approximately 300 miles before recharging but probably one of the most interesting accessories included in the vehicle’s specification is the augmentation of the regenerative braking, enabling the vehicle to convert energy dissipated during braking and power the vehicle with it. Produced at a cost of an initial $69,000 (£50,905), Rivian has released this for U.S. consumers, with the first pre-orders expected to arrive by March. The company is in talks with the U.K. government to arrange the construction of a production factory in Britain, it is expected that its introduction on U.K. roads could be as late as 2023.
b.) R1S SUV:
The R1S SUV is the second EV launched by Rivian and it is marketed as an all-electric SUV and is much like its sister vehicle, the aforementioned R1T, with regards to the vehicle specs. The 2022 Rivian R1S will be available with three battery sizes: 105-, 135- or 180 kWh but Rivian has announced that the 7 seater configuration is not available for those with the 180kWh battery. EPA-rated range for the launch prototype comes in at 316 miles. Rivian estimates range for the rest of the line-up between 240 and 400 miles on a charge depending on the battery chosen.
Another useful function added to all Rivian products is the emergency feature which has a tow-charging mode, where their batteries can be refilled when towed along the road by another vehicle. It is clear that Rivian has clear plans for the future of driving and setting off in one of their landmark vehicles will set you back approximately $72,000 (£53,119).
a.) Model 3:
The rise of Tesla under the stewardship of Elon Musk as CEO is on a rather incomprehensible level at the moment. Tesla market capitalisation currently sits at $911.20 billion dollars, absolutely dwarfing their nearest competitors, and this is largely down to the fact that Tesla’s range of EVs have been on the market for much longer than the likes of Rivian and Lucid Motors. Tesla’s Roadster was their first EV produced back in 2008 and they have gone strength to strength since, establishing themselves as the market leader of innovative transportation and renewable energy. With regards to the Tesla Model 3, it has been the world’s top selling plug-in electric vehicle (PEV) for three years running, from 2018 to 2020. The Model 3 has a range of approximately 374 miles before the need to recharge, reaching 0-60mph in 3.1 seconds.
Boasting features like the installation of 8 cameras providing 360 degrees of visibility at up to a range of 250 meters with 12 ultrasonic sensors, Tesla advertises their vehicles as having “full self-driving capabilities’. With this vehicle priced at $57,670 (£42,500), you would need a pretty penny to experience, what is considered, the benchmark for electric vehicles.
While any of the models offered by Tesla can be considered luxurious to most, it does not get more elite than the highly anticipated Tesla Roadster, as this EV institution comes full circle in a homage to the original Roadster first introduced in 2008. While it is not expected to be officially released until 2023 due to unexpected delays because of supply chain shortages, Tesla announced news which will excite those interested.
With an estimated starting price of $250,000 (£180,268), this vehicle represents Tesla’s first car exceeding the $200,000 (£147,481) range. Paying customers can expect to get their money’s worth with top of the line spec installed; the sports car will feature the company’s latest incarnation of its autonomous driving technology, surrounding cameras offering 360-degree visibility up to 250 metres away and industry-leading ultrasonic sensors. These sensors will be able to detect both soft and hard objects within the vehicle’s path, while adhering to any adjustments needed depending on weather conditions. Tesla claim that their unreleased supercar has performance stats that include a 0-60mph time of just 1.9 seconds, a 0-100mph time of 4.2 seconds and a top speed of over 250mph. Elon Musk also hinted that there might be a Space X package when the car is released, kitted out with a “rocket booster” instalment. It’s safe to say that all these features will leave any auto-lover starry-eyed upon its official release to the market.
Biggest Auto Companies- Cheapest VS Most Expensive Models
5.) Daimler (Mercedes-Benz)
a.) A Class:
Daimler, better known as Mercedes-Benz, is a staple in most people’s top 5 lists when considering vehicles that exude class and elegance. The well renowned badge took inspiration from the shape of a star, the pointed triumvirate encased in a circle, is instantly recognisable across the world. Holding a market value of $85.82 billion, Daimler has produced luxury vehicles since 1926 and the Mercedes A Class is the flagship hatchback model, also comes as a saloon, representing the company’s biggest seller in the U.K. market.
The entry-level A 180 manages 0-62mph in 9.2 seconds with a 134mph top speed, while upgrading to the 161bhp A 200 petrol version sees the sprint time improve to a more sprightly 8.2 seconds. Whereas the 2.0-litre petrol in the A 250 holds a 0-62mph time of 6.2 seconds and 155mph top speed. The most basic model of the A Class will cost upwards of $33,795 (£24,938) but users will certainly get their money’s worth.
b.) Maybach GLS 600:
This SUV combines power with luxury in an effortless manner. With an initial offset cost of approximately $160,500 (£118,436), the Maybach GLS 600 has a top speed of around 155mph. The German car uses Mercedes’ familiar 4.0-litre turbocharged V8 with mild-hybrid assistance, and total power stands at 549bhp and 730Nm torque. It’s also designed to help boost fuel economy, but unsurprisingly the Maybach GLS is still a fuel guzzler; this Maybach model claims 24.1mpg and CO2 emissions of 304g/km. With a 9 speed automatic, 4 wheel drive transmission, this vehicle can hit 0 to 62mph in 4.9 seconds.
a.) EA1 (Dolphin):
The BYD EA1, also known as Dolphin (that’s better), is the latest product of the Chinese car conglomerate. With a market cap of $108.86 billion, this new model from BYD represents the company’s attempts to crack the supple EV market. Wolfgang Egger, the former Audi design chief who is now the Global Design Director at BYD, is the car’s designer and has stated that he invisitages that “it is a device for future mobility in the city… a new architecture for electric mobility”.
The car allows for parameters like 2.9-second 0-100 km/h acceleration time, a 1,000 km range, and rapid charging at a level powerful enough to gain a 150 km range in just five minutes and BYD claim its e-platform 3.0 will be “the cradle of the next generation of electric vehicles.” BYD have only released this on the Chinese market so far and it priced at $14,951 (£11,032), making sustainability more affordable.
b.) Han EV 4WD:
Another vehicle only released for Chinese consumers, the Han EV 4WD is a part of the company’s EV series as they look to the future of sustainable transport. While working on other ambitious projects, like their plans for railways and energy manufacturing, the EV series represents the company’s attempts to expand.
Mr. Wang Chuanfu, President of BYD Co., Ltd., likened the production of the model as akin to “ten years of sharpening a brilliant sword”. He added, “Through our leading technologies, we have created three benchmarks for flagship EVs in terms of safety, performance, and luxury.” The Han comes with the latest version of BYD’s DiPilot intelligent driving assistance system, including a wide array of safety features like an adaptive stop-and-go cruise-control system (ACC-S&G), a forward-collision warning system (FCW), a pedestrian identification and protection system, a lane departure warning system (LDWS), traffic sign identification, and much more. The Han EV’s long-range pure electric version has a remarkable single-charge range of 605 kilometers (376 miles) based on the NEDC test cycle. The four-wheel-drive high-performance version possesses an acceleration of 0 to 100km/h (approximately 62 mph) in just 3.9 seconds. When this vehicle hits Western markets, expect it to cost around the $40,000 (£29,517) mark.
a.) VW UP! Hatchback:
Volkswagen is German for the ‘people’s car’ and capping the market at $125.82 billion, this shows that Volkswagen’s popularity is boundless. Named by AutoExpress as the Best City Car three times in a row in the 2018, 2019 and 2020 New Car Awards. UP! is one of the only remaining hatchbacks on the market that offers both 3 and 5 door options.
The 64bhp 1.0-litre UP! manages 0 to 62mph in 15.6 seconds, with a top speed of 101mph, while the 113bhp GTI version achieves the same sprint in a more impressive 8.8 seconds and a 122mph maximum. The up! will make a great car for learner drivers, who normally pay high premiums to insure their cars. Volkswagen has even electrified the model with the E-UP!, priced at $30,985 (£22,865), with the original model costing an initial $16,046 (£11,840).
b.) VW Touareg SUV:
Costing approximately $60,000 (£43,965), the Volkswagen Tourareg SUV is the company’s acclaimed flagship vehicle. The car offers users a high-tech experience, with the improvement of several operating systems such as The innovative night vision system, the travel assistant, front cross traffic assist, predictive pedestrian protection. Assist Adaptive Cruise Control (ACC) prevents the vehicle from colliding with the traffic ahead. Emergency Assist is part of the Driver’s Assistance Pack Plus, which is optional on all models.
The Volkswagen Touareg launched in the UK with a pair of 3.0-litre V6 diesels. Badged 231PS and 286PS respectively, they have 228bhp and 282bhp. The 0-62mph dash takes just 6.1 seconds and there’s a top speed of 146mph, whereas the 228bhp engine gives the Touareg a 0-62mph time of 7.5 seconds and a 135mph top speed.
a.) Aygo X:
Japanese carmakers, Toyota, own $274.25 billion of the market share and their cheapest model on market is the Toyota Aygo, coming in at an initial price of $15,563 (£11,484). The Toyota Aygo was first launched in 2005 and the X model is the car’s third generation and The model range is pretty straightforward – a 71bhp 1.0-litre three-cylinder petrol is the only available engine and it is only offered as a 5 door car.
The Aygo’s 71bhp is developed at 6,000rpm, and 93Nm of peak torque is delivered at 4,300rpm. Official performance figures convey that the car’s maximum speed is 99mph, with the Aygo managing to do 0 to 62mph in 13.8 seconds. While offered a modest performance specification, the Aygo seems an ideal car for a young driver.
b.) 2022 Land Cruiser 300:
With seven decades of heritage, the Toyota Land Cruiser is easily their best selling vehicle and is a household name, developing a reputation for stability, solidity and value. In global markets, the Land Cruiser has long been offered with diesel engines as well, and this generation will have an available 3.3-liter twin-turbo diesel V-6 with 304 hp and 516 lb-ft of torque. If you go with the manual, expect the 0 to 62mph time to take a lengthy 11.2 seconds, whereas the automatic will take 9.9 seconds.
The Land Cruiser 300 enables a Multi-Terrain Select (MTS); an innovative system that helps control wheelspin and brake lockup, optimising driving performance over the most common off-road surfaces. However, if you’re trying to be economical with your fuel consumption, note that this vehicle is thirsty, averaging 16.3L of fuel used per 100km. Expected to launch in March 2022, overall the 2022 Land Cruiser 300 will cost buyers approximately $80,420 (£59,298).
In the relatively short 15 years of existence, the meteoric rise of Tesla is astonishing, with the American brand developing into a household name and establishing themselves as the most valuable automaker in the global market. Along with their CEO, Elon Musk, who was named the world’s richest man with a fortune of $300 billion in 2021, the massive corporation continual dominance of the automotive industry is down to their expertise in the advancement of the electrification of cars, while the Autopilot function on Tesla vehicles excites audiences about the potential for future of transportations. Moreover, the legacy of Tesla, and Musk, looks set to continue as the planet seeks out more sustainable options of living. Who knows? By 2032, we could be discussing the most affordable hover cars on the market!