Battery Electric Car

Battery Electric Car Market Outlook

The global battery electric car market is anticipated to reach a market size of USD XX billion by 2035, growing at a compound annual growth rate (CAGR) of XX% during the forecast period from 2025 to 2035. The increasing awareness about environmental sustainability and government incentives for electric vehicles are driving the demand for battery electric cars. Furthermore, advancements in battery technology, which offer longer driving ranges and shorter charging times, significantly contribute to the growing adoption of these vehicles. The rising fuel prices and the volatility in oil markets are also motivating consumers to switch from traditional combustion engine vehicles to electric alternatives. Additionally, urbanization and the need for cleaner transportation options further bolster market growth.

Growth Factor of the Market

The growth of the battery electric car market is primarily fueled by a combination of factors, including stricter emissions regulations imposed by governments worldwide and the increasing commitment of automakers toward sustainable mobility solutions. The rising concerns about air quality in urban areas have led to a shift in consumer preference towards electric vehicles, which are seen as a cleaner alternative. Technological advancements in battery production and management systems have also facilitated longer ranges and faster charging capabilities, addressing some consumer apprehensions regarding electric vehicles. Furthermore, the establishment of extensive charging infrastructure is making it easier and more convenient for consumers to adopt electric cars. The growing popularity of electric vehicles in the commercial sector, including ride-sharing services and government fleets, is also significantly contributing to market growth.

Key Highlights of the Market

• The battery electric car market is projected to experience robust growth due to increasing environmental concerns.
• Government incentives and subsidies for electric vehicle purchases are driving consumer adoption.
• Technological advancements in battery technology are enhancing the performance of electric vehicles.
• The growth of charging infrastructure is facilitating easier access to electric vehicle charging points.
• Commercial applications of battery electric cars are expanding, contributing to significant market demand.

By Product Type

Battery Electric Sedan:

Battery electric sedans are one of the most popular segments within the battery electric car market, primarily due to their balance of comfort, efficiency, and performance. The growing number of manufacturers offering electric sedans is increasing the availability of options for consumers, while advancements in battery technology are enhancing the driving range. Sedans are often favored for personal use, offering a smooth driving experience and a spacious interior, which appeals to families and professionals alike. Leading electric sedan models, such as those from Tesla and Nissan, showcase impressive acceleration and performance metrics, further pushing the envelope for what consumers expect from electric vehicles. As urban areas continue to grow, battery electric sedans are becoming a preferred choice for environmentally conscious consumers seeking an efficient solution for city driving.

Battery Electric SUV:

Battery electric SUVs have gained significant traction in recent years, driven by consumer demand for larger vehicles that offer more space and versatility. The SUV segment is particularly attractive to families and individuals who prioritize cargo capacity and comfort. Many manufacturers are launching electric SUVs that not only deliver on performance but also feature advanced technology, safety, and connectivity options. The combination of electric powertrains with the popular SUV design caters to a growing market segment seeking eco-friendly family vehicles. With models like the Tesla Model X and the Ford Mustang Mach-E leading the charge, the battery electric SUV market is expected to expand rapidly in the coming years as more manufacturers invest in this lucrative segment.

Battery Electric Hatchback:

Battery electric hatchbacks represent a compact and economical choice for urban driving, appealing to consumers who prioritize efficiency and practicality. These vehicles are ideal for city dwellers due to their smaller sizes, making them easier to maneuver and park in congested areas. Battery electric hatchbacks typically offer cost-effective solutions for personal transportation while minimizing emissions and fuel costs. As consumers become more aware of their environmental impact, demand for these compact electric vehicles is expected to grow. Models like the Hyundai Ioniq Electric and the BMW i3 exemplify the combination of style, efficiency, and modern technology that attracts buyers to this segment.

Battery Electric Pickup Truck:

The battery electric pickup truck segment is emerging as a game-changer in the electric vehicle market, appealing to consumers who require utility without compromising on sustainability. With the rising demand for electric trucks like the Tesla Cybertruck and Rivian R1T, manufacturers are beginning to recognize the lucrative opportunities this segment presents. Electric pickup trucks offer the ability to perform heavy-duty tasks while delivering zero emissions, addressing the concerns of environmentally conscious consumers in traditionally high-emission market segments. As advancements in battery technology continue to allow for longer ranges and increased towing capabilities, it is anticipated that the battery electric pickup truck market will experience considerable growth in the coming years, attracting both recreational and commercial users.

Battery Electric Minivan:

Battery electric minivans are gaining traction as families seek spacious and versatile electric options that can accommodate multiple passengers and cargo. These vehicles combine the efficiency of electric powertrains with the practicality of a minivan design, making them an ideal choice for families looking to reduce their environmental impact without sacrificing space. With features such as advanced safety technology, entertainment systems for rear passengers, and ample cargo space, battery electric minivans cater to the needs of modern families. Manufacturers are starting to introduce models that offer a blend of performance, comfort, and eco-friendliness, making this segment an exciting area for growth in the battery electric car market.

By Application

Personal Use:

Personal use of battery electric cars is a significant segment of the market, driven by environmental awareness and the desire for cost savings on fuel. Consumers are increasingly making the switch to electric vehicles to reduce their carbon footprint and benefit from lower operating costs. The convenience of home charging and the availability of incentives for electric vehicle purchases further enhance the appeal of electric cars for personal use. This segment encompasses various consumer demographics, including single individuals, families, and professionals, all seeking efficient transportation solutions. As the charging infrastructure expands and awareness of the benefits of electric vehicles grows, personal use applications are expected to dominate the battery electric car market.

Commercial Use:

The commercial application of battery electric cars is rapidly evolving, driven by businesses seeking sustainable transportation solutions to reduce their operational costs and environmental impact. Companies are increasingly incorporating electric vehicles into their fleets to meet corporate sustainability goals and comply with regulatory requirements. Battery electric cars are becoming popular choices for delivery, ride-sharing, and logistics companies due to their lower operating costs compared to traditional combustion engine vehicles. The expanded availability of charging infrastructure is also facilitating the transition to electric commercial vehicles, making it easier for businesses to adopt these technologies and realize long-term savings.

Rental Services:

Rental services are becoming an appealing application for battery electric cars, as consumers increasingly seek eco-friendly alternatives for short-term transportation needs. Car rental companies are starting to invest in electric vehicle offerings to cater to environmentally conscious customers and capitalize on the growing demand for sustainable travel options. The convenience of electric cars for city driving, combined with the lower costs of operation, makes them an attractive addition to rental fleets. As charging infrastructure becomes more accessible, the rental market for electric vehicles is expected to expand, providing consumers with greater choices and promoting the benefits of electric mobility.

Government Fleet:

Government fleets are progressively integrating battery electric cars as part of their initiatives to promote sustainability and reduce carbon emissions. Many governments worldwide are committing to electrifying their fleets to lead by example, influencing public perception of electric vehicles. This application includes various vehicle types, from passenger cars to utility vehicles, all aimed at enhancing operational efficiency while lowering environmental impact. The financial incentives and funding available for governmental agencies to procure electric vehicles further support this shift. As governments worldwide set ambitious targets for emissions reductions, the transition to battery electric cars within government fleets is expected to accelerate significantly.

Car Sharing:

Car-sharing services are increasingly utilizing battery electric cars to provide sustainable transportation options to users who prioritize eco-friendliness. This application allows users to access vehicles on-demand, reducing the need for personal car ownership and promoting a more sustainable urban mobility model. Electric cars are particularly well-suited for car-sharing programs due to their lower operating costs and ease of use. The growing popularity of car-sharing services, combined with the increasing availability of electric vehicles, is expected to enhance the appeal of battery electric cars in this segment. As cities continue to promote shared mobility solutions, the integration of electric vehicles into car-sharing platforms will likely drive further adoption.

By Distribution Channel

Direct Sales:

Direct sales represent a growing distribution channel for battery electric cars, with manufacturers increasingly opting to sell their vehicles directly to consumers. This approach allows manufacturers to establish a direct relationship with customers while providing a streamlined purchasing experience. Direct sales can also lead to cost savings for consumers, as they may eliminate additional dealership fees. Companies such as Tesla have successfully employed this model, showcasing the advantages of direct sales in promoting electric vehicles. As consumer preferences shift, and with the rise of online purchasing capabilities, direct sales are expected to play a larger role in the battery electric car market.

Dealerships:

Traditional dealerships remain a vital distribution channel for battery electric cars, as they provide consumers with the opportunity to see, test drive, and experience vehicles in person. Many dealerships are now expanding their electric vehicle inventories to meet the growing demand from consumers. Dealerships often offer financing options, incentives, and trade-in programs, making it easier for customers to transition to electric vehicles. As consumer awareness and familiarity with electric cars increase, dealerships play a crucial role in educating potential buyers about the benefits and features of battery electric vehicles, thereby aiding in the market's growth.

Online Retail:

Online retail is revolutionizing the way consumers purchase battery electric cars, offering a convenient and streamlined shopping experience. With the rise of e-commerce and digital marketing, consumers can research and select electric vehicles from the comfort of their homes. This distribution channel allows for greater transparency, as potential buyers can easily compare prices and features from multiple manufacturers. Online platforms may offer home delivery services or facilitate test drives at convenient locations, enhancing the overall purchasing experience. As technology continues to advance and consumer preferences evolve, online retail is expected to play an increasingly significant role in the battery electric car market.

By Battery Type

Lithium-ion:

Lithium-ion batteries are presently the most widely used battery type in battery electric cars due to their high energy density, long cycle life, and efficiency. These batteries provide the optimal balance of weight and performance, allowing electric vehicles to achieve longer driving ranges and shorter charging times. The ongoing advancements in lithium-ion technology are leading to improvements in charge rates and overall vehicle performance. Manufacturers continue to invest in research and development to enhance lithium-ion battery capabilities, addressing challenges such as thermal stability and cost reduction. Given their current dominance and ongoing improvements, lithium-ion batteries are expected to remain a critical component of the battery electric car market for years to come.

Solid-State:

Solid-state batteries are a promising alternative to lithium-ion batteries, characterized by the use of solid electrolytes instead of liquid ones. This technology enhances safety and offers higher energy densities, potentially allowing for longer ranges and shorter charging times. The development of solid-state batteries could address some of the limitations associated with lithium-ion batteries, such as risk of overheating and degradation over time. Although still in the early stages of commercialization, several manufacturers are investing heavily in solid-state battery technology, with the expectation that it will significantly impact the battery electric car market as research progresses and production scalability improves.

Nickel-Cadmium:

Nickel-cadmium batteries have historically been used in electric vehicles but have seen a decline in popularity due to their lower energy density and environmental concerns surrounding cadmium. While these batteries can provide reliable performance in specific applications, they are not as competitive compared to newer technologies like lithium-ion. Manufacturers are gradually phasing out nickel-cadmium batteries in favor of greener alternatives that offer better performance and efficiency. However, there may still be niche applications where nickel-cadmium batteries find use, although their role in the battery electric car market is expected to diminish over time.

Lead-Acid:

Lead-acid batteries are one of the oldest types of rechargeable batteries and have been widely used in various transportation applications. While they offer a low-cost solution and are recyclable, their weight and energy density limitations make them less suitable for modern battery electric vehicles. Lead-acid batteries are primarily seen in lower-speed electric vehicles or auxiliary power applications rather than mainstream electric cars. Nonetheless, these batteries may still find a role in specific applications where cost remains a significant factor, though their dominance in the battery electric car market is gradually being surpassed by more advanced battery technologies.

Sodium-Ion:

Sodium-ion batteries are garnering attention as a potential alternative to mainstream battery technologies due to the abundance and low cost of sodium. Although still in the development stage, sodium-ion batteries promise to offer a sustainable and cost-effective energy storage solution for electric vehicles. Researchers are working on improving the energy density and cycle life of sodium-ion batteries, which could make them commercially viable in the future. Given the growing focus on sustainability and reducing reliance on lithium, the sodium-ion battery segment represents an exciting frontier in the battery electric car market, poised for potential growth as technology evolves.

By Region

The North American region is one of the leading markets for battery electric cars, driven by a combination of governmental policies, consumer demand, and the presence of major automotive manufacturers. The market in North America is projected to grow at a CAGR of XX%, with significant contributions from electric vehicle sales in the United States and Canada. Factors such as tax incentives, expanding charging infrastructure, and consumer awareness regarding environmental sustainability are propelling the growth of battery electric cars in this region. Additionally, several states are implementing stricter emissions regulations, encouraging the adoption of electric vehicles among consumers and businesses alike.

In Europe, the battery electric car market is also witnessing rapid growth, supported by strong government initiatives and a commitment to reducing carbon emissions. The European Union's targets for emissions reductions and the increasing availability of electric vehicle models are contributing to this growth. The European market is expected to see a compound annual growth rate of XX%, with countries like Norway and Germany leading the charge in electric vehicle adoption. The presence of established manufacturers, along with new entrants in the market, is creating a competitive environment that fosters innovation and consumer choice in the electric vehicle segment.

Opportunities

The growing battery electric car market presents numerous opportunities for manufacturers and service providers. As consumer preferences shift towards sustainable mobility solutions, there is a significant opportunity for companies to innovate and develop advanced electric vehicle technologies that enhance performance, safety, and user experience. The expansion of charging infrastructure is another area ripe for investment, as enhancing the accessibility and convenience of charging stations will drive consumer adoption. Furthermore, partnerships with tech companies to integrate smart features and connectivity within electric vehicles can enhance the overall value proposition for consumers, making electric cars more appealing.

Moreover, the increasing interest in electric vehicles among commercial fleets presents a substantial market opportunity. Businesses are recognizing the cost-saving potential of replacing traditional combustion engine vehicles with electric ones. This transition can also help companies meet sustainability targets, improve corporate social responsibility standings, and reduce operational costs. Additionally, as battery technology continues to evolve, offerings such as battery leasing and recycling services can provide new revenue streams for businesses while contributing positively to environmental goals. Overall, the opportunities within the battery electric car market are vast and varied, presenting exciting prospects for stakeholders across the industry.

Threats

Despite the promising outlook for the battery electric car market, several threats could hinder its growth trajectory. The primary concern is the current limitations of battery technology, including range anxiety, charging times, and the availability of charging infrastructure. Consumers may be hesitant to adopt electric vehicles if they perceive limitations in performance or convenience compared to traditional vehicles. Additionally, the market faces potential supply chain disruptions, especially given the reliance on specific raw materials for battery production, such as lithium and cobalt. Fluctuations in the prices of these materials could affect production costs and, subsequently, the affordability of electric vehicles.

Another notable threat comes from established competitors in the automotive industry, particularly those who continue to innovate and improve conventional combustion engine technologies. If these manufacturers can develop highly efficient, low-emission vehicles that appeal to consumers, it could slow the transition to electric vehicles. Furthermore, regulatory changes or shifts in government incentives can create uncertainty in the market, impacting consumers’ purchasing decisions. The emergence of alternative technologies, such as hydrogen fuel cells, could also pose a competitive threat to battery electric vehicles. Therefore, stakeholders must remain vigilant and adaptive to these threats to maintain their market position.

Competitor Outlook

• Tesla, Inc.
• General Motors Company
• Nissan Motor Corporation
• Ford Motor Company
• BMW AG
• Volkswagen AG
• Hyundai Motor Company
• Kia Corporation
• Rivian Automotive, Inc.
• Lucid Motors, Inc.
• BYD Company Limited
• Mercedes-Benz AG
• Polestar Automotive Holding UK PLC
• Fisker Inc.
• Lordstown Motors Corp.

The competitive landscape of the battery electric car market is characterized by the presence of numerous established players and emerging startups, each striving to carve out their niche in this rapidly evolving industry. Major manufacturers such as Tesla and General Motors are leading the charge, investing heavily in research and development to enhance battery technology and expand their electric vehicle offerings. These companies are leveraging their existing brand recognition and distribution networks to capture market share while simultaneously pushing for innovation in performance, range, and affordability. The race to develop advanced autonomous features, connectivity, and smart technologies is further intensifying competition, as consumers increasingly demand more than just a vehicle; they seek a comprehensive mobility solution.

Emerging players such as Rivian and Lucid Motors are also making significant strides in the battery electric car market by focusing on specific segments and unique value propositions. Rivian, for example, is targeting the adventure and outdoor enthusiast market with its electric pickup trucks and SUVs, while Lucid Motors aims to provide a luxury electric sedan experience. These companies are leveraging fresh perspectives and innovative approaches to challenge established automotive giants. The competition among these players is fostering an environment of rapid technological advancement, as each company aims to differentiate itself from the others in terms of performance, design, and sustainability.

As the market continues to evolve, partnerships and collaborations between automotive manufacturers and technology firms are becoming increasingly important. Companies are seeking to enhance their electric vehicle offerings by integrating advanced software, navigation systems, and connectivity features. Furthermore, collaborations with battery manufacturers and research institutions are essential for driving innovation and ensuring a steady supply of high-performance batteries. As the battery electric car market matures, it is expected that the competitive landscape will witness continued consolidation, with mergers and acquisitions becoming more prevalent as companies strive to enhance their capabilities and market reach.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 BMW AG
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Fisker Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Tesla, Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Volkswagen AG
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Kia Corporation
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Mercedes-Benz AG
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Ford Motor Company
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Lucid Motors, Inc.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 BYD Company Limited
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Hyundai Motor Company
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 General Motors Company
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Lordstown Motors Corp.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Rivian Automotive, Inc.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Nissan Motor Corporation
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Polestar Automotive Holding UK PLC
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Battery Electric Car Market, By Application
    • 6.1.1 Personal Use
    • 6.1.2 Commercial Use
    • 6.1.3 Rental Services
    • 6.1.4 Government Fleet
    • 6.1.5 Car Sharing
  • 6.2 Battery Electric Car Market, By Battery Type
    • 6.2.1 Lithium-ion
    • 6.2.2 Solid-State
    • 6.2.3 Nickel-Cadmium
    • 6.2.4 Lead-Acid
    • 6.2.5 Sodium-Ion
  • 6.3 Battery Electric Car Market, By Product Type
    • 6.3.1 Battery Electric Sedan
    • 6.3.2 Battery Electric SUV
    • 6.3.3 Battery Electric Hatchback
    • 6.3.4 Battery Electric Pickup Truck
    • 6.3.5 Battery Electric Minivan
  • 6.4 Battery Electric Car Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Dealerships
    • 6.4.3 Online Retail

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Battery Electric Car Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Battery Electric Car market is categorized based on

By Product Type

• Battery Electric Sedan
• Battery Electric SUV
• Battery Electric Hatchback
• Battery Electric Pickup Truck
• Battery Electric Minivan

By Application

• Personal Use
• Commercial Use
• Rental Services
• Government Fleet
• Car Sharing

By Distribution Channel

• Direct Sales
• Dealerships
• Online Retail

By Battery Type

• Lithium-ion
• Solid-State
• Nickel-Cadmium
• Lead-Acid
• Sodium-Ion

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Tesla, Inc.
• General Motors Company
• Nissan Motor Corporation
• Ford Motor Company
• BMW AG
• Volkswagen AG
• Hyundai Motor Company
• Kia Corporation
• Rivian Automotive, Inc.
• Lucid Motors, Inc.
• BYD Company Limited
• Mercedes-Benz AG
• Polestar Automotive Holding UK PLC
• Fisker Inc.
• Lordstown Motors Corp.