Who dominates the electric vehicle market

Tesla is still the top-selling electric vehicle brand in the U.S., but its dominance is eroding as more affordable models proliferate. S&P Global Mobility reports Tesla's market share of new registered electric vehicles in the U.S. stood at 65% through the third quarter, down from 71% last year.

Who dominates electric car market?

According to recent data, 3.39 percent of light vehicles sales for the first nine months of 2022 were electric. This includes Plug-in Hybrid Vehicles (PHEV). And even more intriguing is the fact that Tesla dominates the market by a long shot.

Which is the largest market for electric vehicles?

China is the world's largest electric vehicle market and is expected to invest over $80 billion in related sectors by 2025. However, the Chinese electric vehicle sector is highly fragmented due to a large number of local and international players.

Who is leading in EV sales?

China remained the market leader in EV sales, followed by Europe and the US. China's EV sales increased by over 100% YoY to exceed 1.7 million units from just 0.88 million units in Q3 2021. BYD Auto continued to lead the global EV market during the quarter.

Which country has the largest market for electric vehicles?

Norway, Iceland and Sweden also rank the highest when it comes to having the most EVs on the road per capita.