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Know The Global Electric Vehicle Market Share in 2023

The market for vehicles (EVs) has experienced growth in recent years, driven by a global shift towards sustainable transportation options. The market share data for 2023 showcases the players driving the expansion of this industry.

Global Electric Vehicle Market Share

Tesla (19.9%)

Global Electric Vehicle Market Share

Tesla continues to lead the list of global electric vehicle market share and is known for its cutting-edge technology and diverse range of vehicles such as the Model S, Model 3 Model X, and Model Y.

BYD (17.1%)

image 21 Know The Global Electric Vehicle Market Share in 2023

Chinese car manufacturer BYD has secured a market share with its array of electric vehicles including passenger cars, buses, trucks, and forklifts.

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GAC Aion (5.2%)

image 22 7 jpg Know The Global Electric Vehicle Market Share in 2023

GAC Aion, a division of Guangzhou Automobile Group has emerged as a significant player in China by utilizing advanced technologies to meet the rising demand for environmentally friendly transportation.

SAIC GM Wuling (4.9%)

image 22 8 jpg Know The Global Electric Vehicle Market Share in 2023

The collaboration between SAIC Motor, General Motors, and Liuzhou Wuling Motors has led to the success of SAIC GM Wuling in manufacturing vehicles.

Volkswagen (4.6%)

image 22 9 jpg Know The Global Electric Vehicle Market Share in 2023

Established automotive powerhouse Volkswagen has made investments in electrification by introducing models, like the ID.3 and ID.4 to secure a noteworthy portion of the EV market.

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BMW (3.6%)

image 22 10 jpg Know The Global Electric Vehicle Market Share in 2023

BMW has recently added electric vehicle models such as the i3 and iX3 demonstrating its dedication to promoting transportation solutions and cutting-edge advancements. It is among the global electric vehicle market share.

Hyundai (2.9%)

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Hyundai boasts a selection of cars such as the Kona Electric and Ioniq Electric tailored to meet the needs of environmentally conscious customers.

Mercedes Benz (2.6%)

image 22 12 jpg Know The Global Electric Vehicle Market Share in 2023

Mercedes Benz has unveiled its EQ series, which includes models like the EQC and the upcoming EQS aiming to solidify its position in the high-end electric vehicle market segment. It is on the list of global electric vehicle market share.

MG (2.3%)

image 22 Know The Global Electric Vehicle Market Share in 2023

MG, owned by SAIC Motor, has revitalized its brand image with electric vehicles like the ZS EV and MG5 EV, offering affordable mobility options.

KIA (2.0%)

image 21 194 jpg Know The Global Electric Vehicle Market Share in 2023

KIA, a subsidiary of Hyundai Motor Company, has made strides in the EV market with models like the Soul EV and e-Niro, combining practicality and eco-friendliness. Kia sums up the list of the global electric vehicle market share.

FAQs

  1. Why is the electric vehicle market growing in 2023?

    Factors such as environmental consciousness, government incentives, battery advancements, and improved charging infrastructure are driving the market’s expansion.

  2. What are the main challenges for electric vehicles?

    Challenges include high costs, limited charging infrastructure, battery limitations, and the necessity for ongoing research and development efforts to address these hurdles.

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