Reflecting the new recessionary signals of the economy and a slowdown in the startup-driven investment cycle, series production BEV manufacturers Rivian and Lucid Motors lost their Top Ten ranking market capitalization in June 2022. Both OEMs dropped from the Top 10 to the bottom of the Top 20, joining value-priced BEV startup Xpeng. Those who have stayed – namely Tesla, BYD, and Ford - have slightly improved their positions due to new product introductions and in Ford’s case, a radical reorganization of the business structure into BEV and ICE organizations, followed by a purge of the ICE organization. Other BEV competitors such as NIO and LI Auto are perched just outside the Top Ten and could improve their rank based on their imminent launches of ES7 and L9 respectively.
Source: Yahoo Finance
Questions or interested to learn more? Contact The ITB Group at the link below.
Header Picture Source: Creative Commons
