Selecting the Right Electric Vehicle (EV) Manufacturer for a Commercial Fleet

The Electric Vehicle (EV) market is rapidly evolving, with automakers competing to innovate and implement cutting-edge technologies. ABI Research’s latest competitive ranking assesses and compares 18 Electric Vehicle Original Equipment Manufacturers (OEMs) based on their innovation and implementation capabilities. Automakers are evaluated on various criteria.

The assessment culminates in an overall score that positions each EV maker as a leader, in the mainstream, or as a follower in the EV landscape. As major automotive groups work toward an electrified future, the disparity in their success rates is notable.

This resource reviews the criteria our analysts used to rank each EV OEM and the top three companies in the innovation and implementation criteria.

EV Innovation Criteria

Battery Design

Battery design is a crucial determinant of an EV’s performance, range, and cost-effectiveness. The ranking considers:

• Battery Technologies: High-nickel ternary and Lithium Iron Phosphate (LFP) chemistries are favored for high-end and low-end vehicles, respectively.
• Emerging Technologies: Progress toward adopting solid-state, sodium-ion, and high-sodium anode cells is assessed.
• Efficient Architectures: Innovations like Cell-to-Pack (CTP) are recognized for enhancing energy density and performance.

A more advanced battery technology not only increases range, but also reduces costs and reliance on critical minerals, making vehicles more appealing to consumers.

Fast Charging

Fast charging capabilities are essential for enhancing the convenience of EV ownership. Key metrics include:

• Peak Charging Speed: The maximum charging speed available across the OEM’s model range, with a median of 200 Kilowatts (kW) observed in this ranking.
• Charging Time: The ability to charge from 10% to 80% in approximately 30 minutes significantly affects user experience, particularly for those without home charging access.

Performance

The performance of EVs is evaluated based on:

• Efficiency: Measured in Kilometers per Kilowatt-Hour (km/kWh), with a median efficiency of 6.6 km/kWh for standard and long-range Sport Utility Vehicles (SUVs).
• Maximum Range: The median Worldwide Harmonised Light Vehicle Test Procedure (WLTP) range for standard SUVs was found to be 448 km, while long-range SUVs reached 529 km.

High efficiency not only lowers battery size and cost, but also reduces the frequency of charging, addressing one of the main concerns of prospective EV buyers.

Platform

The assessment of the OEM's Battery Electric Vehicle (BEV) platform includes:

• Specificity and Modularity: Platforms designed exclusively for EVs and those that allow modular configurations receive higher scores.
• Voltage Architecture: Platforms that utilize 800 Volt (V) systems demonstrate superior capabilities in terms of charging speed and vehicle design.

Top EV Innovators

Table 1: Comparing Top Three EV OEMs’ Innovations

1. Tesla

Tesla remains the top innovator in the EV space, though competition is intensifying. The classic Model 3/Y platform, while highly capable, is beginning to lag behind in certain areas compared to newer models. Tesla's Cybertruck showcases cutting-edge features, including an 800 V architecture and large format 4680 cylindrical cells, allowing for peak charging rates of up to 350 kW—significantly higher than the industry median.

• Efficiency Leader: The Tesla Model Y is the top model for performance. It has a good range, but it really outshines the competition is in its market-leading efficiency.
• Battery Strategy: Tesla’s utilization of LFP batteries from BYD in some trims reduces costs and dependence on critical minerals.

2. Zeekr

Zeekr, a Chinese OEM, is making significant strides in battery technology and efficiency. Utilizing CATL’s Cell-to-Pack (CTP) technology, the Zeekr 001 boasts a remarkable range of 1,032 km, thanks to its 140 kWh NMC Qilin battery.

• Fast Charging: The Zeekr models are equipped with an innovative “golden battery” that can achieve charging rates of up to 500 kW.
• Platform Efficiency: The Sustainable Experience Architecture (SEA) enables flexibility and maximizes interior space while supporting 800 V systems.

 3. GAC AION

GAC AION demonstrates a commitment to innovation with advancements in battery technologies, including plans to adopt All Solid-State Batteries (ASSBs) by 2026.

• Charging Capabilities: The AION LX Plus boasts exceptional fast charging, achieving peak speeds of 480 kW, allowing it to recharge from 30% to 80% in just 10 minutes.
• Range Performance: With a maximum range of 1,008 km according to China Light-Duty Vehicle Test Cycle (CLTC) standards, GAC AION leads in range for its category.

Are you a supply chain stakeholder or automotive software solution provider considering an EV OEM partner? Speak with an ABI Research analyst to discuss how we can help your organization choose the right partners.

EV Implementation Criteria

EV Sales

The volume of Plug-in Electric Vehicle (PEV) sales is weighted to prioritize BEV sales. Higher sales figures indicate an OEM’s ability to produce and market EVs effectively, thereby achieving economies of scale.

EV Share of Sales

The share of PEV sales relative to total passenger vehicle sales offers insight into an OEM's commitment to electrification. A higher ratio indicates significant progress toward a fully electrified lineup.

Geographic Reach

The geographic presence of the OEM in major automotive markets (China, the European Union (EU), and the United States) is weighted by PEV sales. A broader market presence enhances growth potential.

Segments

The availability of BEV and Plug-in Hybrid Electric Vehicle (PHEV) models across different vehicle segments is evaluated. OEMs that provide a diverse range of vehicle types can cater to various consumer preferences.

Vertical Integration

Vertical integration assesses the OEM’s capabilities in designing and manufacturing batteries and other components in-house. Greater vertical integration allows for quicker innovation cycles, cost reduction, and differentiation in a competitive market.

Top EV Implementation-Enabling OEMs

Table 2: Comparison of EV Makers’ Implementation Capabilities

(Source: ABI Research)

1. BYD

BYD has established itself as the world’s largest EV manufacturer, achieving over 3 million sales in 2023 (learn how BYD overtook Tesla as EV market leader in this blog post). With a market share of 35% in China, the company offers a comprehensive range of BEV and PHEV models across multiple segments.

• Vertical Integration: BYD claims to manufacture nearly all vehicle components in-house, enhancing control over quality and costs.
• Segment Coverage: BYD is unique in providing vehicles in various segments, ensuring a wide addressable market.

2. Tesla

Tesla, while primarily known for its BEV lineup, has seen significant sales figures. The company sold 1,808,581 units in 2023. Its global manufacturing presence allows for efficient distribution and local production. The Elon Musk-led company also doesn’t have to be concerned about tariffs, as it produces its EVs locally.

• Market Strategy: Tesla lacks PHEV offerings and is limited in segment diversity, which may restrict its growth potential as the market evolves.
• Vertical Integration: Tesla’s extensive in-house capabilities allow for innovation and cost advantages.

3. Volkswagen (VW)

Volkswagen has solidified its position as a top competitor, ranking third in EV implementation. In 2023, VW sold 771,100 BEVs, with strong segment coverage across the compact, mid-size, and SUV segments.

• Market Presence: VW has a strong foothold in Europe and China, but it has yet to fully integrate battery design and manufacturing into its operations.
• Vertical Integration Initiatives: The establishment of its battery division, PowerCo, is a step toward greater control over its battery supply chain.

Conclusion

The competitive landscape of EV OEMs reveals a dynamic interplay of innovation and implementation capabilities. Tesla leads in innovation, yet challengers like Zeekr and GAC AION are closing the gap with groundbreaking technologies and strategies. In implementation, BYD dominates due to its comprehensive range and vertical integration, while Tesla and Volkswagen continue to carve out their respective niches. As the automotive industry transitions to an electrified future, these rankings serve as a vital guide for companies looking to navigate the evolving market landscape.

Access the full competitive analysis by downloading ABI Research’s Electric Vehicle OEMs ranking (CA-1412).