What Are the Biggest EV Makers by Market Capitalization?
The electric vehicle market is expanding with renewed government support and new SPACs contributing to a surge in popularity, especially with investors. Although the number of EVs on the road is still a small percentage, the market capitalization of the leading producers is rising to all-time highs.
The market cap of EV producers has surpassed that of traditional motor vehicles. Now at about $1.37 trillion, the EV makers' market cap is hovering near the traditional Internal Combustion Engine (ICE) market at $1.47 trillion.
While the largest EV producers are U.S.-based, Chinese EV automakers are gaining market share as well.
Here are the top 10 EV companies by Market Capitalization (as of Dec. 7):
Tesla ( (TSLA) ) - Market Cap: 1.048 trillion
Rivian ( (RIVN) ) - Market Cap: $101.52 billion
Lucid Motors ( (LCID) ) - Market Cap: $71.94 billion
NIO ( (NIO) ) - Market Cap: $52.75 billion
XPeng ( (XPEV) ) - Market Cap: $40.36 billion
Li Auto (LI) - Market Cap: $31.92 billion
Fisker (FSR) -Market Cap: $5.40 billion
Arrival (ARVL) - Market Cap: $5.06 billion
Nikola ( (NKLA) ) - Market Cap: $4.21 billion
Canoo ( (GOEV) ) - Market Cap: $2.37 billion
