North America Automotive High Performance EV Industry Overview
The North American automotive high-performance electric vehicles market is dominated by several players, such as Tesla, General Motors Company, Nissan Motors, Mercedes-Benz, Toyota Motor Corporation, and Hyundai Motors. These companies are expanding their business by new innovative technologies, such as an increase in the range of kilometers per single charge so that they can have the edge over their competitors. For instance,
- In July 2022, General Motors announced it would spend USD4 billion to expand its Orion Assembly Plant in Michigan to build EVs and an additional USD 2.6 billion to build a battery manufacturing facility also in Michigan.
- In February 2022, Nissan Motor invested an amount of USD 500 Million to rebuild its United States assembly plant near Canton, Mississippi, to build two new electric vehicles.
- In March 2021, General Motors formed a new joint venture with lithium metal battery developer Solid Energy Systems to fast-track battery development as the company focuses on the development of high-performance electric vehicles of 400-500 miles capacity in the long term.
- In 2021, Ford Motors invested USD 11.4 billion to build Blue Oval City and Blue Oval SK Battery Park in Tennessee and Kentucky, respectively.
- Additionally, Tesla's lead over the North American electric vehicles market is gradually reducing. The General Motor Company has been observed to develop more autonomous vehicles, and the financial prospects of the company look better than those of Teslas in 2021.
North America Automotive High Performance EV Market Leaders
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Tesla Inc.
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General Motors
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Nissan Motor Co., Ltd
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Mercedes-Benz USA, LLC
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Volkswagen AG
- *Disclaimer: Major Players sorted in no particular order
