A strong message has been sent by India regarding foreign investment, specifically when it comes to allowing investment from certain countries. BYD, the largest electric vehicle maker in China, has recently been denied permission to set up a large manufacturing base in India. Although the precise reasons for this denial have not been articulated, they seem to stem from a desire to prevent investment from countries that are considered strategic rivals.
This action corresponds with India’s previous dismissal of BYD’s $1 billion offer with Megha Engineering, a collaboration that failed to materialize, particularly after Megha’s connection to the electoral bonds scandal came to light. In a comparable fashion, Great Wall Motor, another Chinese carmaker, deserted India after it encountered constant regulatory problems.
Deepening Concerns Over Chinese Firms
India is still suspicious of investments by Chinese corporations due to their dubious corporate structures and potential ties to the Chinese government and military. Officials point out that practices normal for a market economy, like state subsidies and favorable loans, distort competition and make Chinese investments seem attractive when they aren’t. Geopolitical tensions have eased a little since the summer of 2020, but at the moment, the Indian government is still using Press Note 3 as a way of keeping potentially harmful investments at bay.
Speculation exists that Chinese companies, unhappy with recently imposed restrictions, are now trying to solve that problem by offering a lesser stake in joint ventures to Indian companies. But what does the Indian government think about all this? It seems not too happy itself about Chinese investment and is thus in no hurry to ease the enhanced restrictions, especially in the extremely sensitive area of electric mobility.
India Rolls Out the Red Carpet for Tesla
India seems to be working hard to woo Tesla. Unlike Europe, which has dragged its feet in delivering the promised permits to install production facilities, India has, according to Tesla’s CEO, provided the go ahead to set up a factory in India. In the interim, the company is employing a strategy that involves contract manufacturing and using the existing automotive production infrastructure within India to make its vehicles. The company is also busy setting up Tesla stores within the major metropolitan areas from which it intends to draw demand.
A Tightrope Between Protection and Progress
The costs of land and labor in India are significantly less expensive than in the U.S. or Germany. Setting up a facility in India that costs only USD 2–3 billion is an attractive proposition, less than half the price of either the Berlin or Texas gigafactories.
Though India aims to be a global electric vehicle (EV) hub, the country imposes very high import duties that act as a barrier. They are among the steepest worldwide, in fact. These tariffs are why Tesla has hesitated to set up shop in India, even as it has tried to establish manufacturing plants in other parts of the world.
India’s hesitance to allow BYD to operate freely is as much about protecting domestic interests as it is about geopolitical caution. Here, we are talking about a company that already produces over 1,200,000 electric vehicles a year. These are affordable, yet efficient vehicles. BYD poses a greater competitive threat to Indian automakers than does Tesla, which sells its cars at a much higher price point. Allowing BYD to operate in India could dramatically change the electric vehicle landscape in India’s favor, if India’s own EV automakers were allowed to operate in a fair competitive environment.
With the rise in Electric Vehicles around the globe the market has grown in the past decade. There is a lot of competition among brands to bring out the best Electric Vehicles. The race is both in the two wheeler and four wheeler sectors. Not to forget the bigger vehicles too in this competition! If you are planning to buy an EV or want some information about the trending EVs globally then here is a listicle. Let us dive into the world of EVs and check out the top 10 EVs in the world.
Tesla, Inc. is an American electric vehicle and clean energy company founded in 2003, known for its mission to speed up the world’s transition to sustainable energy through innovative products and solutions. The company was established by engineers Martin Eberhard and Marc Tarpenning, with Elon Musk joining shortly after as a significant investor and later becoming the CEO.
The company has pioneered several key innovations in the automotive industry. High-performance electric vehicles, advanced battery technology, and autonomous driving capabilities are their innovations. Their contribution to the evolution of electric mobility include:
Tesla Roadster
Model S
Model 3
Model X
Model Y
Tesla’s impact on the market has been profound, as it has spurred a global shift towards electric vehicles. This is after it only disrupted traditional automotive manufacturers. The company has reported increasing sales figures. Also, a significant growth in both production and delivery, reflects a rising consumer demand. Besides electric vehicles, Tesla has expanded its portfolio to include energy storage solutions. This diversification aligns with the company’s overarching goal of promoting renewable energy and reducing reliance on fossil fuels.
BYD Auto
Company
BYD Auto
Founded
1995
Market Cap (September 2024)
$99.06 Billion
Origin
China
Website
byd.com
Top EV Companies – BYD Auto
BYD Auto, established in 1995, originated as a rechargeable battery manufacturer. Then it diversified into the automotive sector. The company has evolved into a leading player in the electric vehicle market. It is driven by its commitment to innovation and sustainability. Its headquarters are located in Shenzhen, China. The headquarters has developed a robust infrastructure for research and development.
The company offers passenger cars, buses, and commercial vehicles. BYD’s electric vehicle range is characterized by:
advanced battery technology,
impressive driving ranges, and
a focus on environmental sustainability.
Models such as the BYD Han and BYD Tang have gained attention for their performance and features.
BYD Auto has made significant strides in global expansion. This has helped in establishing a presence in various international markets. The company has formed strategic partnerships and collaborations to enhance its market reach. It has invested in local manufacturing facilities to meet regional demand.
Established in 1908, GM is evolving through various phases of innovation and adaptation. The company has increasingly focused on electrification, recognizing the need to transition from traditional internal combustion engines to EVs.
The launch of the Chevrolet Bolt marked a significant milestone for GM, as it was one of the first affordable all-electric vehicles to offer a substantial driving range, thereby making electric mobility more accessible to the general public. Additionally, the introduction of the Hummer EV represents a bold step in reimagining a classic brand, showcasing GM’s capability to produce high-performance electric vehicles that appeal to both adventure enthusiasts and environmentally conscious consumers.
GM’s long-term vision is centered around achieving an all-electric future, with ambitious goals to eliminate tailpipe emissions from new light-duty vehicles by 2035.
Volkswagen AG
Company
Volkswagen AG
Founded
1937
Market Cap (September 2024)
$52.74 Billion
Origin
Germany
Website
volkswagen-group.com/en
Top EV Companies – Volkswagen AG
Volkswagen AG is undergoing a transformation. It has shifted from conventional manufacturing to electric vehicles (EVs). The company is reflecting a strategic response to the evolving automotive landscape. This transition involves large investments in R&D, and new production facilities.
The ID series represents an innovative approach to electric mobility. It features a range of models designed to cater to diverse consumer needs. This series includes vehicles such as the ID.3 and ID.4. These are equipped with cutting-edge features and sustainable design elements. Volkswagen AG is dedicated to sustainability, aiming to reduce its carbon footprint. The company has set ambitious future goals, thereby contributing to a more sustainable automotive industry.
Hyundai Motor Company
Company
Hyundai Motor Company
Founded
1967
Market Cap (September 2024)
$43.79 Billion
Origin
South Korea
Website
hyundai.com/worldwide/en
Top EV Companies – Hyundai Motor Company
Hyundai Motor Company has made significant strides in the EV sector, focusing on innovative technologies and sustainable practices. The company aims to expand its EV lineup. It looks at investing in R & D for improve battery efficiency and charging infrastructure. This in turn promotes a greener automotive future.
Among the notable electric models introduced by Hyundai are
Hyundai Ioniq
Kona Electric
The Ioniq series offers a range of options, including
The Ford Motor Company has undergone significant transformations in response to the evolving automotive landscape. This shift has necessitated a comprehensive reevaluation of their product offerings. In line with this transition, Ford has launched innovative electric models such as:
Mustang Mach-E: an all-electric SUV that combines performance with eco-friendliness,
F-150 Lightning: an electric version of their iconic pickup truck.
These vehicles not only reflect Ford’s commitment to electrification but also aim to capture the interest of a diverse consumer base seeking modern, sustainable transportation options. To solidify its position in the market, Ford has developed plans that encompass increased investment.
Rivian Automotive
Company
Rivian Automotive
Founded
2009
Market Cap (September 2024)
$13.60 Billion
Origin
USA
Website
rivian.com
Top EV Companies – Rivian Automotive
Rivian Automotive was established with a mission to revolutionize the automotive industry. It aimed at producing sustainable electric vehicles. Such vehicles were designed to cater to the needs of adventure-seeking consumers. The innovation involved environmental responsibility.
The company has concentrated its efforts on developing electric trucks and SUVs. It aims to capture a significant share of the growing market for electric vehicles. The emphasis is given to offering products that combine rugged performance with advanced technology and eco-friendly features. Rivian has attracted large investment from various sources. Such investments have positively influenced its market reception. This has led to heightened interest and anticipation for its vehicle offerings.
NIO Inc.
Company
NIO Inc.
Founded
2014
Market Cap (September 2024)
$10.96 Billion
Origin
China
Website
ir.nio.com
Top EV Companies – NIO Inc.
NIO Inc. is a prominent electric vehicle manufacturer established in 2014. The company was founded by William Li. He aimed to create high-performance electric vehicles.
NIO vehicles stand out in the crowd by their cutting-edge features, which include
advanced battery swapping technology,
autonomous driving capabilities, and
focus on user-centric design.
These attributes not only enhance the driving experience but also address concerns such as:
range
charging times
positioning
The company has experienced growth since its start. It is marked by increasing sales figures and expanding market presence. With an aim to solidify its market presence, NIO plans to:
innovate product lineup
enhance service offerings
explore international markets
Lucid Motors
Company
Lucid Motors
Founded
2007
Market Cap (September 2024)
$8.91 Billion
Origin
USA
Website
lucidmotors.com
Top EV Companies – Lucid Motors
Lucid Motors was established with the vision of redefining the luxury automotive experience. The company aims to create high-performance electric vehicles. These vehicles not only meet but exceed the expectations of discerning consumers. They emphasize a commitment to environmental responsibility and cutting-edge design.
The flagship model, the Lucid Air, exemplifies the brand’s dedication to excellence. It features impressive specifications such as
a range of over 500 miles on a single charge,
rapid acceleration capabilities, and
spacious, luxurious interior equipped with state-of-the-art technology.
The vehicle’s design integrates aerodynamics and efficiency, showcasing a sleek silhouette. The company differentiates itself from traditional luxury automakers by focusing only on electric powertrains, thereby appealing to environmentally conscious consumers who seek high-end vehicles without compromising on performance or style.
Xpeng Motors
Company
Xpeng Motors
Founded
2014
Market Cap (September 2024)
$8.26 Billion
Origin
China
Website
xpeng.com
Top EV Companies – Xpeng Motors
Xpeng Motors, founded in 2014, has emerged as a significant player in the electric vehicle industry. It is driven by a vision to create intelligent and connected vehicles. These vehicles enhance the driving experience. The company was established in Guangzhou, China.
The company is renowned for its cutting-edge technology and advanced smart features such as:
autonomous driving capabilities,
intuitive user interface,
robust suite of connectivity options.
Xpeng’s vehicles are equipped with proprietary software and hardware that enable over-the-air updates, ensuring that customers benefit from the latest advancements in automotive technology.
In recent years,it has expanded its footprint beyond the Chinese market. This expansion is characterized by:
establishment of local partnerships,
introduction of its flagship models,
commitment to meeting the diverse needs of global consumers.
The top EV companies are Tesla Inc., Ford Motor Company, Hyundai Motor Company, Lucid Motors, General Motors, NIO Inc., Rivian Automotive etc.
Who is the No. 1 EV company?
Tesla is considered the market leader in the EV sector. The American company was founded in 2003 by multi-billionaire Elon Musk.
Which country is leading in EVs?
The country which is leading in terms of the production of EVs is China. China produces more than 60% of EV batteries around the world.
What is the full form of BYD?
Build Your Dreams also known as BYD is a China-based multinational high-tech company. BYD Auto is one of the leading EV manufacturers around the world.
Automobile manufacturers have been stepping up their technological game to become industry leaders in electric vehicles ever since the notion was first presented globally. As a result of Tesla’s success, worldwide corporations are racing to be the first to cash in on this industry’s promising future. The electric vehicle market is very competitive in India as well. India revealed its lofty goal of decarbonization for 2030 at COP26. In addition to joining the worldwide EV30@30 campaign, this means cutting energy sector carbon emissions in half and increasing renewable energy generation capacity to 500 gigawatts by 2030. India plans to do this by tripling its present renewable capacity and setting a specific target of having 30 percent of new car sales be electric vehicles (EVs) by 2030 through its EV30@30 program.
At least in the realm of passenger cars, that is an enormous undertaking. With 49,800 EVs sold out of 3.8 million passenger vehicles in 2022, electric cars made up just 1.3% of all vehicle sales. With both established and up-and-coming firms investigating various avenues for research and development and commercial manufacturing of automobiles and auto parts, the automotive industry and related sectors are optimistic about the future of electric vehicles.
According to media projections, the electric vehicle industry in India might reach $7.09 billion by 2025, up from $2 billion in 2023. Sales of electric vehicles in the United States are expected to reach 10 million units per year by 2030.
Sanjay Gopalakrishnan, BYD’s senior vice president of electric passenger vehicle business, told a prominent media house that the company’s goal in India is to maintain its dominance in the electric vehicle (EV) sector priced over Rs 30 lakh. “We have multiple SUVs globally, but we thought that Seal is the right product for the Indian market,” Gopalakrishnan explained when asked why the company would introduce a sedan in a nation where SUVs are in high demand. The world over, people are raving about it. It goes up against Tesla’s Model 3. Customers in India are familiar with the Model 3, so we figured they would be interested in trying out a Model 3 rival that showcases our technology and performance.
Across the country, BYD now operates 24 dealerships. Gopalakrishnan reiterated the company’s goal of penetrating 90% of the market for electric vehicles.
The Chinese electric vehicle maker had planned to build an electric vehicle (EV) assembly plant in Hyderabad in conjunction with Megha Engineering and Infrastructures Ltd (MEIL) last year, but the Indian government turned down their $1 billion investment offer.
India Electric Vehicle Market Size, 2022 to 2032
Developments in the International Market
Companies in the international EV industry are releasing a plethora of new, feature-packed models that are characterized by cutting-edge technology. As the formal premiere of its highly anticipated electric car, the SU7, approaches on March 28, the famed Chinese smartphone giant Xiaomi is preparing for a momentous occasion. The company’s strong statements regarding the car’s availability right after launch indicate a major shift towards the electric vehicle (EV) industry.
In 2018, Volvo began investing in small firms with the hope of developing technology that may be utilized in its vehicles. Some of these companies have developed software that can reduce the time it takes to charge batteries by 15-30% (from 10-80%), as stated in the report. The algorithmic charging process is managed by the UK-based startup Breathe Battery Technologies. In contrast to conventional electric vehicles, which use a phased charging program with predetermined limitations to save their batteries, Breathe’s technology allows for real-time dynamic regulation of energy flow.
Even though the US federal government would not subsidize the purchase of a 2024 Kia EV9—an electric three-row SUV—Kia itself will. All EV9 purchases made by April 30 will receive a $5,000 cash discount from the manufacturer. This means that customers may obtain a base Light trim for as low as $51,395 or a top-tier GT-Line for as low as $70,395 (with a destination cost of $1,495).
Indian Government Going Vocal for Local
During the early stages, the Central Government is considering granting companies like Tesla a decrease in import charges on fully constructed units to boost domestic manufacturing. And because the government plans to set up a regulatory framework for high-tech car makers, local sourcing will be a need. The initiative aims to reduce the import duty on environmentally friendly vehicles. If Indian carmakers agree to start manufacturing their vehicles in India and sourcing their components locally, the duty could be reduced significantly, possibly from 100% to as low as 15-30%.
Furthermore, these businesses will be asked by the government to guarantee that they will create a supplier ecosystem, with a primary goal of obtaining 20% of the components from local sources in the first two years. It is anticipated that this percentage will rise to 40% by the end of the fourth year of the agreement.
Leonardo DiCaprio is one of the most well-known actors globally and is sought after by the topmost brands as they want him to become their brand ambassador. Leonardo DiCaprio is a critically acclaimed actor, film producer, and environmentalist. He has established himself as one of the best actors by his movies performances that have to lead him to have a diverse career in the film industry.
Over three decade’s actor has continuously captured audiences through his strong performances in films. DiCaprio first starts out his career as a child in advertisements, moved to small roles in television shows, and then got his big break in the movie known as This Boy’s Life. Leonardo DiCaprio then started playing in unconventional roles and biopics like What’s Eating Gilbert Grape, for which he was nominated as Best Actor in a Supporting Role by Academy and Golden Globe awards.
Titanic which was the highest-grossing film at that time, catapulted him into the international limelight. His other critically acclaimed performances are in movies such as Romeo + Juliet, Catch Me If You Can, Gangs of New York, The Aviator, Blood Diamond, Django Unchained, The Wolf of Wall Street, The Revenant, Once Upon a Time in Hollywood, etc.
Leonardo DiCaprio has won multiple awards and accolades such as the Academy Awards, BAFTA, Screens Actors Guild Award, and 3 Golden Globe awards. So far, his career, the actor has a record of 10 nominations in the Golden Globes and 5 nominations for the Academy Award. He was also given the privilege of being the Ordre des Arts et des Lettres commander for his contributions to the film industry in 2005.
Besides his acting career, he is also an environmentalist and so started his own organization known as Leonardo DiCaprio Foundation to help protect vulnerable species, ocean, climate change, and wildland. He has also supported charitable causes and launched a production company in order to create films and documentaries about environmental themes. In 2017, he was designated as the UN Peacekeeper to help combat climate change.
In 2016, Leonardo DiCaprio was ranked number one in Time’s list of the 100 most influential people in the world. As of 2019, his films have grossed over $7.2 billion, while DiCaprio has been called the world’s highest-paid actor eight times. The net worth of the actor is estimated to be $260 million as of 2021. He is also known to charge $5 million to appear in a TV advertising campaign. Some of the brands endorsed by Leonardo Dicaprio are Tag Heuer, BYD, OPPO, Jim Beam
Tag Heuer is a well-known Swiss luxury watchmaker that manufactures and markets watches and other fashion accessories. The brand is also known for its wide range of collections in eyewear and mobile phones that are manufactured by other companies with licenses. Tag Heuer was initially founded in 1860 by Edouard Heuer in Switzerland. The company was acquired by LVMH, which is a luxury good conglomerate.
Leonardo DiCaprio was signed as the brand ambassador of Tag Heuer in 2009. An undisclosed amount was paid to the actor, out of which a portion was donated to support a major environmental organization.
The actor is a part of the ad campaign called “What Are You Made Of” which also includes Uma Thurman and Tiger Woods. According to the company’s statement, the Oscar-winning actor perfectly embodies the call to action with his exceptional talent and commitment to social and environmental issues.
BYD is one of the largest new energy vehicle manufacturers in the world and an automotive subsidiary of BYD Corporation Ltd. The company has its headquarters in Shaanxi Province and is known for a wide range of cars, busses, trucks, electric bicycles, fork lifters.
BYD also manufactures vehicles in the categories of electric, plug-in hybrid, and petrol engines. In 2021, the company won a contract for 406 electric buses to Bogota, Columbia.
BYD is also known for its “Cool the Earth by 1°C” campaign, which aims for the creation of a “Zero Emissions Energy Ecosystem.” In 2016, Leonardo DiCaprio was signed as the brand ambassador of BYD’s line of new energy vehicles. The aim of the ad campaign with the actor was to highlight the new developments and new line of vehicles in its home country China. Commenting on the association, DiCaprio said that, he was pleased to be joining an effort that will increase the number of clean vehicles in China.
Oppo is one of the top smartphone manufacturers in the world. The consumer electronics and mobile communications multinational company is headquartered in Guangdong, China. Besides smartphones, Oppo is known for its products such as smart devices, audio devices, power banks, Bluray devices, and other electronic products. The company products are available in over 40 countries, while its phone is sold at 200,000 retail outlets.
In 2011, Oppo signed Leonardo DiCaprio for an estimated price of $5 million, the actor has been featured in some ad commercials while promoting the company’s smartphones. The marketing campaign called Find me is said to inspire by the actor’s Inception movie. The said campaign revolves around Leonardo DiCaprio tracking down a mysterious lady of his dreams in Paris, using the smartphone by Oppo.
Jim Beam
Jim Beam is one of the top-selling bourbon whisky in the world. The company was initially founded by Beam Suntory in 1975 and currently has its headquarters in Clermont, Kentucky. Jim Beam is a family business as it is headed by the seven generations down the line. Jim beam was earlier owned by the Fortune Brands Company and then acquired by Suntory Holdings in 2014.
The iconic whisky brand signed Leonardo DiCaprio as its brand ambassador in 2013. The 40-sec ad campaign that features the actor, shows him molding ice into a ball before snapping his fingers, which breaks the ball magically into crushed ice. Leonardo DiCaprio then looks at the camera holding the bottle of Jim Beam’s white-label, and says, “Cool Bourbon. Jim Beam”. This was an Asia-only TV commercial, as the brand aimed on promoting bourbon in countries where brown spirits are gaining momentum.
Conclusion
Besides being one of the best actors in his generation and contributing so much to the film industry, the actor is also a passionate environmentalist. The actor has been a role model to many people, as he contributed so much to the film industry and won multiple prestigious awards. Over the years, the actor has worked hard in bringing worldwide attention to his concern for global warming and endangered animals. This is why many brands want him as their brand ambassadors.
FAQ
Who is Leonardo DiCaprio?
Leonardo DiCaprio is a critically acclaimed actor, film producer and environmentalist.
What is the net worth of Leonardo DiCaprio?
The net worth of the actor is estimated to be $260 million as of 2021.
What does Leonardo DiCaprio charge for brand endorsements deals?
Leonardo DiCaprio known to charge $5 million to appear in a TV advertising campaign.
What is the brand endorsed by Leonardo DiCaprio?
Some of the brands endorsed by Leonardo DiCaprio are Tag Heuer, BYD, OPPO, Jim Beam.
