Molly Ayala
Electric vehicles are becoming increasingly popular, with more companies entering the market. Tesla has been a key player in the industry, with its stock skyrocketing by over 14,000% since the release of the first Tesla Roadster in 2008. However, other companies are now catching up, including Lucid Group Inc., Fisker Inc., and Hyliion Holdings Corp., which are leading in revenue growth. Hyundai and Kia have also seen a surge in sales of their electric vehicles, with Hyundai Motor Group becoming the second-largest seller of EVs, behind Tesla. Other companies to watch include Audi, Porsche, BMW, and new names such as Canoo and Rivian. As the market expands, it will be interesting to see how consumer preferences and company strategies evolve.
| Characteristics | Values |
|---|---|
| Companies leading the electric vehicle market by revenue | Lucid Group, Fisker, and Hyliion Holdings |
| Electric car companies with the lowest 12-month trailing price-to-sales ratio | Lucid Group, Fisker, and Hyliion Holdings |
| Companies with the highest YOY sales growth in the most recent quarter | BYD Co. |
| Companies with the smallest declines in total return over the past 12 months | Hyliion Holdings |
| Companies with the top-selling EV models in 2024 | Tesla, led by the Model Y |
| Companies with the No. 2 overall seller of EVs | Hyundai Motor Group, which includes Kia |
| Companies with the top-selling EV models in 2025 | Not mentioned |
| Companies with the top electric car models in 2025 | Porsche, BMW, Fiat, and Audi |
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What You'll Learn
- Electric car companies leading by revenue: Lucid Group, Fisker, and Hyliion Holdings
- Electric car companies with the highest YOY sales growth: BYD Co
- Electric car companies with the smallest declines in total return: Hyliion Holdings Corp
- Electric car companies with the best value, fastest growth, and best performance
- Electric car companies with the lowest 12-month trailing price-to-sales ratio
Electric car companies leading by revenue: Lucid Group, Fisker, and Hyliion Holdings
Electric car companies Lucid Group, Fisker, and Hyliion Holdings are leading the industry in terms of revenue growth.
Lucid Group
Lucid Group Inc. produces luxury electric vehicles, including the Lucid Air and the soon-to-be-released Lucid Gravity. The company was founded in 2007 as Atieva by Bernard Tse, a former Tesla Motors Vice President, Astoria Networks co-founder Sam Weng, and inventor Sheaupyng Lin. Atieva initially focused on building electric vehicle batteries and powertrains for other vehicle manufacturers. In 2016, the company rebranded as Lucid Motors and announced its intention to develop an all-electric, long-range, high-performance vehicle. Lucid has raised $1 billion from private investors and targets the high-end market with its flagship model priced at $69,900.
Fisker
Fisker Inc. is an electric vehicle manufacturer known for its strikingly beautiful designs. The company is led by CEO Henrik Fisker, who has a legacy of designing vehicles for BMW and other brands. While Fisker has produced some expensive cars, it has not yet achieved profitability or high-volume production for the mass market. However, this may change with the introduction of the Fisker Ocean, an SUV billed as "The World's Most Sustainable Vehicle." The company plans to start producing its EV SUVs in 2023 and has seen its stock value increase by almost 60% in a single month.
Hyliion Holdings
Hyliion Holdings Corp. sells electrified powertrain components for commercial vehicles through its subsidiaries. The company has made significant acquisitions, such as the KARNO generator technology from GE Additive, which is expected to be 20% more efficient than conventional generators. Hyliion is targeting the semi-truck market with both full-electric and hybrid diesel-electric offerings, although it is not yet manufacturing vehicles.
These three companies are leading the electric vehicle industry in revenue growth, even amidst rising interest rates and pandemic restrictions that have slowed global demand.
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Electric car companies with the highest YOY sales growth: BYD Co
Electric car companies with the highest year-over-year (YoY) sales growth: BYD Co.
BYD Co. is a Chinese company that develops and manufactures electric vehicles, batteries, and rail transit equipment. BYD stands for "Build Your Dreams," and the company was founded in 1995 by Wang Chuanfu in Shenzhen, China. BYD reported impressive sales growth in the first quarter of 2025, with a 60% surge in sales compared to the same period last year. This growth was driven by strong sales of its new-energy vehicles, including battery-powered cars, hybrids, and commercial vehicles. In the first three months of 2025, BYD sold just over one million new-energy vehicles, with a 39% increase in pure electric vehicle sales to more than 416,000 units.
BYD's success can be attributed to its innovative technologies, affordable pricing, and expanding global presence. In 2025, BYD introduced a revolutionary battery charging technology that can add 250 miles of range in just five minutes, outpacing competitors like Tesla. Additionally, BYD offers an advanced driver-assistance system, "God's Eye," as a free feature in most of its models. This system rivals Tesla's Full Self-Driving feature, which comes at an extra cost. BYD's top-selling passenger vehicles include the Qin and Song models, which cater to a diverse range of consumers with their affordability and versatility.
BYD's sales growth is not limited to the first quarter of 2025 but has been a consistent trend over the years. In 2023, BYD sold 3,024,417 vehicles, a significant increase of 61.8% compared to 2022. The company's total sales for 2024 reached 4,272,145 vehicles, including almost one-third of fully electric vehicles, a 41.3% increase from the previous year. BYD's revenue for 2024 was reported to be $107 billion, a 29% jump from 2023.
While BYD faces challenges in entering certain markets, such as the US due to high tariffs, it has a strong presence in Europe, South America, Southeast Asia, and the Middle East. The company is also investing in research and development to create affordable electric cars, positioning itself as a key player in the global shift towards electrification. BYD's impressive sales growth and commitment to innovation suggest that it will continue to be a major force in the electric vehicle market.
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Electric car companies with the smallest declines in total return: Hyliion Holdings Corp
Hyliion Holdings Corp. (HYLN) is a developer of sustainable electricity-producing technology and sells electrified powertrain components for commercial vehicles through subsidiaries. Hyliion Holdings is one of the electric car companies with the smallest declines in total return. In November, the company completed the acquisition of the KARNO generator technology from GE Additive for $15 million in cash and $16 million in stock. The KARNO technology is expected to be 20% more efficient than conventional generators. Hyliion Holdings has also collaborated with Hyzon Motors to develop a fuel cell-powered vehicle that will integrate Hyliion's electrified powertrain into a Peterbilt chassis.
Hyliion Holdings Corp. has been recognised as a leader in revenue growth, alongside Lucid Group Inc. and Fisker Inc., despite rising interest rates and pandemic restrictions slowing demand globally, including in China, the world's largest EV market.
Hyliion Holdings Corp. is listed on the New York Stock Exchange (NYSE) under the ticker HYLN. The company has been publicly reporting its financial results, including its third-quarter 2024 financial results on November 14th, 2024.
Hyliion Holdings Corp. is not the only company making strides in the electric vehicle (EV) market. Tesla (NASDAQ: TSLA) is widely recognised as the leader in the electric vehicle market, with its stock skyrocketing by over 14,000% since the release of the first Tesla Roadster in 2008. Other companies to watch in the EV space include BYD Co., which develops and manufactures electric vehicles and related products, and Kia and its sister company Hyundai, which were among the first automakers outside of Tesla to fully commit to electrification.
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Electric car companies with the best value, fastest growth, and best performance
Electric car companies are leading the automotive industry's transition to electrification. Here is an overview of electric car companies with the best value, fastest growth, and best performance:
Best Value
The MG4 is recommended by Top Gear as one of the best electric cars for 2025. It offers excellent value for money, with a strong range, charging capabilities, equipment, and zippy dynamics. The Grande Panda, an electric supermini by Fiat, is also praised for its low cost and practicality.
Fastest Growth
The electric vehicle (EV) market is experiencing rapid growth, with global sales increasing by about 3.6 million per year since 2020. China leads the world in EV sales, with 8.1 million EVs sold in 2023, accounting for 38% of its total vehicle sales. Chinese manufacturers like BYD Company, Guangzhou Automobile Group (GAC), and Geely have experienced significant sales growth. BYD, the global leader in EV manufacturing, has seen strong year-over-year sales growth. GAC Aion, the EV arm of GAC, increased its vehicle sales by 77% from 2022 to 2023. Geely, which controls multiple auto brands, saw a 21% year-over-year growth in EV sales in the first quarter of 2024.
Stellantis, the parent company of well-known brands like Fiat and Peugeot, is also worth mentioning. Stellantis has set ambitious electrification targets and is catching up quickly. Its global BEV sales increased by 21% in 2023, and it was the top-selling PHEV brand in the United States.
Best Performance
When it comes to performance, the Porsche Taycan stands out as a proper sports car that happens to run on electricity. The new Tesla Model Y has also improved, offering a quieter, more efficient, and calmer driving experience. The R5, a premium-retro EV, is another option that combines charm, practicality, and performance with its bi-directional charging capabilities.
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Electric car companies with the lowest 12-month trailing price-to-sales ratio
Electric car companies are rapidly expanding their offerings to meet the rising demand for electric vehicles. While Tesla has been a pioneer in the electric vehicle market, other companies are catching up and expanding their electric vehicle lineups.
When it comes to the lowest 12-month trailing price-to-sales (P/S) ratio, here are some electric car companies that stand out:
Lucid Group Inc.
Lucid Group Inc. is a leading electric car company in terms of revenue growth. They produce luxury electric vehicles such as the Lucid Air and the upcoming Lucid Gravity. Lucid has experienced success in the market, with rising sales and a positive impact on investors.
Fisker Inc.
Fisker Inc. is another company with a low 12-month trailing P/S ratio. While they have not started producing their electric SUVs until 2023, their stock has gained significant value, with a "Buy" rating from Italy Michaeli and a price target of $26. As a pre-revenue company, Fisker is a higher-risk investment, but their decision to target the SUV segment is a strategic move.
Hyliion Holdings Corp.
Hyliion Holdings Corp. specializes in selling electrified powertrain components for commercial vehicles. They have made significant acquisitions, such as the KARNO generator technology, which is expected to increase efficiency. Hyliion has also collaborated with Hyzon Motors to develop a fuel cell-powered vehicle, showcasing their commitment to innovation.
BYD Co.
BYD Co. develops and manufactures electric vehicles, batteries, and rail transit equipment. They have experienced the highest year-over-year (YOY) sales growth in the most recent quarter. BYD's ability to boost revenue and their strong performance in the market make them an attractive investment opportunity.
Indie Semiconductor Inc.
Indie Semiconductor Inc. is an automotive technology company that supplies semiconductors for electric vehicle applications. They focus on autonomous driving and advanced driver assistance systems. While their impact on the P/S ratio is not explicitly mentioned, their role in providing essential components for electric vehicles is significant.
These companies have demonstrated strong performance and growth in the electric vehicle industry, making them attractive investment opportunities, especially with their low 12-month trailing price-to-sales ratios.
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Frequently asked questions
Lucid Group, Fisker, and Hyliion Holdings are leading the industry by revenue.
Tesla is the leader in the electric vehicle market.
Many companies are making electric SUVs, including Fisker, BMW, Honda, Chevrolet, and Cadillac.
Audi, Porsche, Fiat, and Maserati are all making electric cars.
Indie Semiconductor Inc. is an automotive technology company that supplies semiconductors for electric vehicle applications.
