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What Are the Biggest EV Makers by Market Capitalization?

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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) - Get Tesla Inc Report) - Market Cap: 1.048 trillion

Rivian ( (RIVN) - Get Rivian Automotive, Inc. Class A Report) - Market Cap: $101.52 billion

Lucid Motors ( (LCID) - Get Lucid Group, Inc. Report) - Market Cap: $71.94 billion

NIO ( (NIO) - Get NIO Inc. (China) Report) - Market Cap: $52.75 billion

XPeng ( (XPEV) - Get Xpeng Inc Report) - 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) - Get Nikola Corporation Report) - Market Cap: $4.21 billion

Canoo ( (GOEV) - Get Canoo Inc. Class A Report) - Market Cap: $2.37 billion

Related: Rivian IPO: Everything We Know so Far

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