Top 10 Electric Vehicle Companies in 2024

Companies	Employees	HQ location	Revenue	Website	Industry
Hyundai Motor	View 24,270 employees	🇰🇷 South Korea, Seoul, Seocho-gu	$ >1000M	hyundai.com	Transportation, Sales and Marketing, Professional Services
General Motors	View 104,312 employees	🇺🇸 United States, Michigan, Detroit	$ >1000M	gm.com	Transportation, Energy, Manufacturing, Consumer Electronics, Hardware, Sustainability
ZF Friedrichshafen AG	View 51,987 employees	🇩🇪 Germany, Baden-Württemberg, Friedrichshafen	$ 500-1000M	zf.com	Transportation, Software
Mitsubishi Electric	View 8,565 employees	🇯🇵 Japan, Tokyo, Chiyoda City	$ >1000M	mitsubishielectric.com	Consumer Electronics, Hardware, Manufacturing, Transportation
Aptiv	View 21,630 employees	🇮🇪 Ireland, Leinster, Dublin	$ >1000M	aptiv.com	Transportation, Science and Engineering, Artificial Intelligence, Data and Analytics
Audi AG	View 16,178 employees	🇩🇪 Germany, Bayern, Ingolstadt	$ >1000M	audi.com	Transportation, Sales and Marketing, Professional Services
Mahle	View 17,372 employees	🇩🇪 Germany, Baden-Württemberg, Stuttgart	$ 500-1000M	mahle.com	Transportation, Sales and Marketing, Manufacturing
Tenneco	View 19,958 employees	🇺🇸 United States, Michigan, Northville Charter Township	$ >1000M	tenneco.com	Transportation, Manufacturing, Sales and Marketing
Faurecia	View 25,757 employees	🇫🇷 France, Île-de-France, Nanterre	$ >1000M	faurecia.com	Transportation, Manufacturing
Dräxlmaier Group	View 9,382 employees	🇩🇪 Germany, Bayern, Vilsbiburg	$ 500-1000M	draexlmaier.com	Consumer Electronics, Hardware, Transportation, Manufacturing, Commerce and Shopping

1. Hyundai Motor

Hyundai Motor has established itself as a pivotal player in the electric vehicle sector, consistently innovating to match the growing environmental concerns and the push for sustainable mobility. Their product lineup includes advanced electric models that emphasize both performance and eco-friendliness. Hyundai’s commitment to electrification is evident in their strategic investments in technology and infrastructure, aiming to enhance the accessibility and affordability of electric vehicles. This focus not only supports cleaner transportation but also positions Hyundai as a forward-thinking leader in India’s automotive industry transformation towards electric mobility.

Location 🇰🇷 South Korea, Seoul, Seocho-gu	Size View 24,270 employees
Revenue $ >1000M	Industries Transportation, Sales and Marketing, Professional Services
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2. General Motors

General Motors (GM) is a global automotive giant taking significant strides in the electric vehicle (EV) industry. Renowned for brands like Chevrolet, Cadillac, and GMC, GM is committed to an all-electric future, planning to launch 30 new electric models by 2025. This ambitious pivot to electrification involves investing heavily in battery technologies, like the Ultium battery system, ensuring their vehicles are not only environmentally friendly but also high-performing. By propelling the adoption of EV technology, GM aims to lead the automotive transformation, enhancing sustainability and reducing environmental impact.

Location 🇺🇸 United States, Michigan, Detroit	Size View 104,312 employees
Revenue $ >1000M	Industries Transportation, Energy, Manufacturing, Consumer Electronics, Hardware, Sustainability
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3. ZF Friedrichshafen AG

ZF Friedrichshafen AG, a prominent player in the automotive industry, is steering the future of mobility with its cutting-edge electric vehicle components and systems. The company excels in developing electric drivelines and advanced technology solutions that enhance the sustainability and performance of electric vehicles. With a robust commitment to innovation, ZF Friedrichshafen AG is pivotal in shaping an eco-friendly automotive landscape by providing efficient, reliable, and high-performance solutions that cater to the growing global demand for cleaner transportation options.

Location 🇩🇪 Germany, Baden-Württemberg, Friedrichshafen	Size View 51,987 employees
Revenue $ 500-1000M	Industries Transportation, Software
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4. Mitsubishi Electric

Mitsubishi Electric, a prominent player in the electric vehicle (EV) sector, leverages advanced technology to develop innovative solutions for the automotive industry. Known for high-performance components such as motors, inverters, and battery systems, Mitsubishi Electric enhances the efficiency and reliability of electric vehicles. Through their commitment to sustainability and cutting-edge technology, they play a crucial role in driving the evolution of EVs, helping manufacturers produce vehicles that are not only eco-friendly but also deliver superior performance and user satisfaction. With their deep expertise, Mitsubishi Electric continues to set benchmarks in the electrification of transport, meeting the demands of a growing environmentally conscious market.

Location 🇯🇵 Japan, Tokyo, Chiyoda City	Size View 8,565 employees
Revenue $ >1000M	Industries Consumer Electronics, Hardware, Manufacturing, Transportation
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5. Aptiv

Aptiv is a prominent player in the global automotive sector, renowned for its advanced vehicle technology solutions with a special emphasis on the burgeoning electric vehicle (EV) market. As a leader in sustainable mobility, Aptiv’s offerings include high-voltage electrical architectures, smart vehicle interfaces, and connected services, all designed to enhance safety and environmental performance. Their innovative approach not only supports the shift towards electric vehicles but also empowers automakers to meet increasing demands for efficiency and automation, positioning Aptiv at the forefront of the automotive transformation.

Location 🇮🇪 Ireland, Leinster, Dublin	Size View 21,630 employees
Revenue $ >1000M	Industries Transportation, Science and Engineering, Artificial Intelligence, Data and Analytics
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6. Audi AG

Audi AG is a pioneering force in the automotive sector, renowned for its luxurious and performance-oriented vehicles. The company has made significant strides in the electric vehicle (EV) market with its e-tron series, which highlights Audi’s commitment to sustainability and cutting-edge technology. These electric models offer a dynamic driving experience combined with zero emissions, aligning with global environmental goals. Audi’s integration of advanced battery technology and innovative features ensures that their EVs meet the high standards of comfort and efficiency that customers expect, thereby solidifying its position as a leader in the electric mobility revolution.

Location 🇩🇪 Germany, Bayern, Ingolstadt	Size View 16,178 employees
Revenue $ >1000M	Industries Transportation, Sales and Marketing, Professional Services
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7. Mahle

Mahle is a leading global supplier in the automotive industry, specializing in innovative solutions for electric vehicles (EVs). The company’s focus on advancing e-mobility includes developing efficient powertrain components, thermal management systems, and electric drives that enhance the performance and sustainability of EVs. With a deep commitment to technological innovation and environmental responsibility, Mahle supports automakers worldwide in transitioning to cleaner, more efficient electric vehicles, thereby contributing significantly to the reduction of carbon emissions in the transportation sector.

Location 🇩🇪 Germany, Baden-Württemberg, Stuttgart	Size View 17,372 employees
Revenue $ 500-1000M	Industries Transportation, Sales and Marketing, Manufacturing
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8. Tenneco

Tenneco, a global leader in automotive technology, has expanded its expertise into the electric vehicle (EV) sector, providing innovative solutions for ride performance and clean air products. As the automotive industry shifts towards sustainability, Tenneco’s cutting-edge components help enhance the efficiency, safety, and performance of electric vehicles. Their advanced technologies in emission control systems, suspension systems, and noise reduction components are crucial for manufacturers aiming to meet the growing demands for eco-friendly and high-performance EVs. Tenneco’s commitment to innovation and quality positions them prominently in the evolving electric vehicle market.

Location 🇺🇸 United States, Michigan, Northville Charter Township	Size View 19,958 employees
Revenue $ >1000M	Industries Transportation, Manufacturing, Sales and Marketing
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9. Faurecia

Faurecia is a leading automotive technology company that plays a pivotal role in the electric vehicle (EV) industry. As a key supplier of innovative technologies and systems, Faurecia provides sustainable mobility solutions designed to enhance the safety, comfort, and environmental performance of electric vehicles. The company’s focus on advanced driver assistance systems (ADAS), seating solutions, and emissions control technologies supports automakers in their transition towards cleaner and more efficient electric models. By pioneering cutting-edge solutions, Faurecia is shaping the future of mobility, making electric vehicles more accessible and appealing to a global market.

Location 🇫🇷 France, Île-de-France, Nanterre	Size View 25,757 employees
Revenue $ >1000M	Industries Transportation, Manufacturing
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10. Dräxlmaier Group

Dräxlmaier Group, a prominent player in the automotive industry, specializes in premium automotive interiors and electrical systems, tailor-made for the burgeoning electric vehicle (EV) sector. As electrification becomes pivotal, Dräxlmaier is at the forefront, providing innovative solutions that enhance both the aesthetics and functionality of EVs. Their commitment to quality and innovation enables manufacturers to deliver superior driving experiences, aligning with the global shift towards sustainable mobility. Dräxlmaier’s contributions are vital in shaping the future of electric transportation, making them a key partner for leading automotive brands.

Location 🇩🇪 Germany, Bayern, Vilsbiburg	Size View 9,382 employees
Revenue $ 500-1000M	Industries Consumer Electronics, Hardware, Transportation, Manufacturing, Commerce and Shopping
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Things to Consider When Prospecting into Electric Vehicle Companies

Common Pain Points and Challenges for Companies in Electric Vehicle

High Initial Investment Costs

The upfront costs associated with electric vehicles often pose a significant barrier to potential buyers.

Higher purchase prices compared to conventional vehicles.
Installation costs of charging infrastructure.
Potential upgrades to electrical systems at home or business premises.

Sales Insight: You can address these concerns by highlighting the long-term cost savings on fuel and maintenance, potential tax incentives, and financing options. Informing clients about these aspects can help mitigate the sticker shock and demonstrate the overall value of their investment in an EV.

Range Anxiety

Concerns about the driving range of electric vehicles and the availability of charging stations continue to deter potential buyers.

Fear of running out of battery power away from a charging station.
Insufficient charging infrastructure in certain regions.
Longer charging times compared to refueling conventional vehicles.

Sales Insight: To alleviate these fears, focus on educating your clients about the improving infrastructure, advancements in battery technology, and the increasing range of new models. Offer specific examples of infrastructure improvements in their area or route planning tools that incorporate charging stations.

Limited Vehicle Options

Customers often feel restricted by the fewer model choices in the electric vehicle market compared to traditional vehicles.

Limited styles and types of EVs available.
Lack of options in certain vehicle categories, such as trucks and large SUVs.
Perception of electric vehicles as primarily small or economy-class cars.

Sales Insight: Encourage clients by discussing upcoming models and expansions in EV line-ups from various manufacturers. Highlight examples of electric options in their preferred vehicle category and emphasize the rapid development of new models and market expansion.

Concerns Over Battery Life and Replacement Costs

Worries about the longevity of the EV battery and the costs associated with replacing it can deter buyers.

Anxiety over battery degradation and its impact on vehicle performance.
High replacement costs of batteries.
Uncertainties about battery warranty and coverage.

Sales Insight: Build trust by clearly explaining battery technology, warranty terms, and the longevity of modern EV batteries. Offering comparative analyses showing the lifespan of EV batteries versus traditional vehicle maintenance can help you to reassure potential buyers.

Resale Value Uncertainty

Potential EV buyers are often unsure about the future resale value of electric vehicles.

Questions about market demand for used EVs.
Depreciation rates compared to conventional vehicles.
Impact of older battery technology on resale value.

Sales Insight: You can alleviate these concerns by presenting data on the growing trends in EV adoption and residual values over time. Educate them about how ongoing advancements and increasing demand are likely to stabilize and potentially increase the resale value of electric vehicles.

Lack of Consumer Education

Many consumers lack a thorough understanding of electric vehicle technology and benefits, leading to hesitation in making a purchase.

Misconceptions about EV capabilities and performance.
Unawareness of environmental and economic benefits.
Information overload or conflicting information from different sources.

Sales Insight: Play a key role in educating your clients by providing clear, accurate, and relevant information about EV technology and its advantages. Tailored information sessions or resources can help clarify doubts and make the technology approachable, enhancing buyer confidence and interest.

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Key Decision-Makers and Influencers in Electric Vehicle

Key Departments

Production

Insight: Managers here are focused on efficient, cost-effective manufacturing processes. They seek technologies that can streamline production, reduce energy costs, and minimize waste, with a keen eye on solutions that support scalability and quality control.

Supply Chain Management

Insight: This department ensures the smooth procurement of high-quality materials while managing costs. They prioritize vendors who offer reliable, eco-friendly, and cost-efficient materials, aligning with broader sustainability goals.

Marketing and Sales

Insight: Professionals in this area aim to effectively communicate the benefits of their EV products to a broad audience. They look for tools that can enhance customer engagement and accurately convey the value and innovation of their vehicles.

Quality Assurance

Insight: Ensuring that all vehicles meet stringent industry standards and safety regulations is paramount. They value technologies that help maintain high quality while adhering to regulatory compliance and reducing recall risks.

Corporate Sustainability

Insight: With a focus on reducing environmental impact, this department evaluates all purchases based on their contribution to the company’s sustainability goals. They champion initiatives that not only comply with, but exceed, environmental regulations.

Seniority Level

Vice Presidents (VPs) of Engineering or Product Development

Insight: VPs in this sector are crucial in overseeing the development of new electric vehicle models and enhancements. Their main concerns include the integration of advanced technologies, product reliability, and compliance with international standards. They seek solutions that ensure technical excellence and market relevance.

Directors of Supply Chain and Procurement

Insight: Directors in these roles manage the sourcing of high-quality and cost-effective materials needed for electric vehicle manufacturing. They look for suppliers that can meet the demands of production scalability and sustainability in supply chain practices.

Plant Managers

Insight: Plant managers in the electric vehicle industry oversee day-to-day manufacturing operations. They need systems and tools that enhance production efficiency, safety, and quality control, always aiming to meet production targets while minimizing costs.

Fleet Managers

Insight: Fleet managers who consider integrating electric vehicles into commercial fleets are focused on total cost of ownership, vehicle performance, and charging infrastructure. They evaluate how well a vehicle fits into the operational scope and environmental goals of the company.

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Buying Processes and Behaviors in Electric Vehicle

Lengthy Decision-Making Process

The decision to purchase from suppliers in the EV industry often involves several stages.

Multifaceted evaluations of technology and compatibility with existing systems.
Extensive assessments of environmental impact and sustainability credentials.
Required approvals from various stakeholders including engineering, procurement, and executive teams.

How to leverage: Engage early and stay connected throughout the decision process. Provide detailed, factual content on specifications, compliance with environmental standards, and potential integration solutions. Offer case studies or whitepapers that illustrate successful integrations with similar businesses.

High Importance on Innovation and R&D Collaboration

EV companies prioritize cutting-edge technology and may seek suppliers that contribute to their innovation efforts.

Continuous advancements in EV technology necessitate partners who can keep pace.
Collaboration may be required to tailor products or solutions specific to the EV sector.
Potential for joint ventures or long-term partnerships that facilitate mutual growth and innovation.

How to leverage: Highlight your company’s commitment to R&D and ongoing innovation. Demonstrate flexibility in product development and willingness to engage in collaborative projects. Discuss possibilities for co-development initiatives that align with the strategic goals of both companies.

Focus on Scalability and Flexibility

As the EV market grows, companies look for suppliers that can scale operations and adapt quickly.

Increasing demand for EVs requires scalable production capabilities.
Need for suppliers that can adjust to changing regulations and market conditions.
Preference for vendors that offer customizable and scalable solutions.

How to leverage: Emphasize your company’s ability to scale up operations efficiently and your track record in adapting to market shifts. Be prepared to discuss specific examples where you have successfully managed scaling or adaptation. Offer flexible terms of service and scalability in product offerings to accommodate growing needs.

Sustainability and Compliance Standards

Compliance with environmental regulations and standards is crucial in the EV industry.

Governments worldwide are imposing stricter environmental regulations.
Companies are motivated to surpass minimum compliance to boost brand reputation.
Sustainability measures can often lead to operational savings and efficiency improvements.

How to leverage: Provide clear documentation and evidence of how your products or services meet or exceed environmental standards. Highlight any sustainability awards or recognitions your company has received. Understand and prepare to discuss regional specific compliance issues that could affect the client.

Cost Efficiency and Long-Term ROI

EV companies assess potential purchases based on their long-term cost benefits and ROI.

High initial R&D and production costs in the EV industry direct focus on long-term savings.
Importance of reducing overall operational and maintenance costs.
Favorability towards suppliers who can offer competitive pricing with optimal service.

How to leverage: Quantify how your offerings can lead to cost reductions over time. Prepare ROI analyses tailored to the specifics of the EV sector. Discuss flexible pricing models that align with the financial planning and growth stages of the potential client.

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Prospecting Tips for Selling to Electric Vehicle Companies

Title: Emphasize Sustainability Benefits

The EV industry is deeply intertwined with sustainability efforts. Businesses involved in this sector often prioritize environmental benefits. Tailor your messaging to reflect how your product or service enhances these green initiatives.

Tip: Discuss how your solutions contribute to lower carbon emissions or improved energy efficiency, connecting these benefits to the company’s sustainability goals.

Title: Leverage Technological Innovations

Innovation drives the EV industry forward. Showcase your understanding of the latest technological advancements and how your solution can help companies stay at the cutting edge.

Tip: Provide details about how your technology integrates with or enhances the performance of electric vehicles, making sure to connect these features to potential business outcomes.

Title: Highlight Cost Savings

Despite the initial higher costs associated with EVs, over time they can offer significant cost savings. Make sure your outreach highlights how your product or service can help reduce total ownership costs.

Tip: Focus on long-term savings, such as reduced maintenance costs or energy efficiencies, that your product can offer to businesses in the EV industry.

Title: Tailor to Industry-Specific Needs

The EV industry includes manufacturers, infrastructure providers, and service companies. Understanding the specific segment your prospect operates in can greatly enhance your approach.

Tip: Customize your pitch to address the unique challenges and needs of the segment—whether it’s production, charging infrastructure, or fleet management.

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Want to see more Electric Vehicle companies?

Things to Consider When Prospecting into Electric Vehicle Companies

Common Pain Points and Challenges for Companies in Electric Vehicle

Concerns Over Battery Life and Replacement Costs

Resale Value Uncertainty

Lack of Consumer Education

Start finding new prospects that match your ICP

Key Decision-Makers and Influencers in Electric Vehicle

Key Departments

Seniority Level

Not joined surfe yet? Sign up to Surfe today

Buying Processes and Behaviors in Electric Vehicle

Sustainability and Compliance Standards

Cost Efficiency and Long-Term ROI

Not joined Surfe yet? Get 20 free credits

Prospecting Tips for Selling to Electric Vehicle Companies

Need prospects?

Top 10 Electric Vehicle Companies — a guide for sales

Want to see more Electric Vehicle companies?

Things to Consider When Prospecting into Electric Vehicle Companies

Common Pain Points and Challenges for Companies in Electric Vehicle

Lack of Consumer Education

Start finding new prospects that match your ICP

Key Decision-Makers and Influencers in Electric Vehicle

Key Departments

Seniority Level

Not joined surfe yet? Sign up to Surfe today

Buying Processes and Behaviors in Electric Vehicle

Not joined Surfe yet? Get 20 free credits

Prospecting Tips for Selling to Electric Vehicle Companies