About Competitive Analytics' 10-Year Target Revenue Forecast for 52 Automobile Manufacturers
To Executive Decision Makers, Forward Planning Strategists, Market Analysts, and Data Scientists,
Competitive Analytics' new predictive analytics platform is designed for data driven companies that value scenario modeling. Moreover, our proprietary ML-AI forecasting process leverages an ensemble model approach that generates myriad forecast scenarios involving numerous time series variables, weights, and assumptions. Please note that the following 10-year forecast by quarter reflects only one scenario of the 64 base scenarios available . . . and the nearly infinite array of potential scenarios that can be run.
Key assumptions for this semi-aggressive scenario are as follows:
A. Soft-landing macroeconomic recession during 3Q/4Q 2023 based on a TPSI trough of 350.56.
B. Macroeconomic cycle peak during 2H2027/1H2028 based on a TPSI peak of 605.45.
C. TAM (Total Addressable Market) from 2023 to 2032 of $25.9T for all 52 Automobile Manufacturers.
D. All 52 Motor-Vehicle Companies realizing Semi-Aggressive Revenue Growth Targets.
E. Supply chains assumed to operate at slight to moderated disruption levels.
We hope you find our predictive analytics insightful. Of course, we're happy to learn more about your strategic objectives and how you're applying strategic forecasting . . . as well as share with you how Competitive Analytics' advanced methodologies and innovative predictive analytics services can help you achieve and exceed your strategic objectives. Because we deliver extremely robust data analytics solutions for both Fortune 500 companies as well as SMBs across a wide array of industries, I’m confident we can assist you and/or your organization.
To schedule an introductory meeting, please email us at info@competitiveanalytics.com and let us know a few dates and times for a call or zoom and we will make one work!
David Scott Savlowitz
CEO & Founder, Competitive Analytics
Professor of Predictive Analytics, UC Irvine
Professor of Strategic Business Planning, Swiss Education Group
Tier 1
Tier 1 represents the following 2 companies with gross revenue above $200 billion for the calendar year 2022.
Toyota Motor Corp. Founded in 1937, Toyota is one of the world's largest automakers with 10.38 million units sold at retail in fiscal 2022 across its light vehicle brands. Brands include Toyota, Lexus, Daihatsu, and truck maker Hino; the market share in Japan is about 51%, while the U.S. share is nearly 15.5%. The firm also owns a large stake in Denso, a parts supplier, about 20% of Subaru, and holds investments in many other firms, including shares of Uber Technologies, Joby Aviation, DiDi Global, Aurora Innovation, and about 5% in each of Mazda and Suzuki. Fiscal 2022 sales excluding financial services were JPY 29.1 trillion. Toyota also has a financing arm and manufactures homes and boats.
Volkswagen AG. Volkswagen is one of the world's largest automotive manufacturers. Automotive brands include Volkswagen passenger cars, Audi, Bentley, Lamborghini, Porsche, SEAT, and Skoda. Commercial vehicle brands include MAN, Navistar, Scania, and Volkswagen. The company's financial services group provides dealer financing to support floor plans, consumer financing for vehicle purchases, vehicle leasing, banking, and other financial services.
Tier 2
Tier 2 represents the following 7 companies with gross revenue between $100 billion and $200 billion for the calendar year 2022.
Bayerische Motoren Werke AG. In addition to being one of the world's leading premium light-vehicle manufacturers, BMW Group produces BMW motorcycles and provides financial services. Premium light-vehicle brands include BMW, Mini, and ultraluxury brand Rolls-Royce. Operations include 31 production facilities in 15 countries, with a sales network reaching over 140 countries. In 2020, worldwide sales volume exceeded 2.3 million automobiles and more than 179,000 motorcycles.
Ford Motor Co. Ford Motor Co. manufactures automobiles under its Ford and Lincoln brands. In March 2022, the company announced that it will run its combustion engine business, Ford Blue, and its BEV business, Ford Model e, as separate businesses but still all under Ford Motor. The company has about 13% market share in the United States, about 6.5% share in Europe, and about 2.1% share in China including unconsolidated affiliates. We expect market share to increase as inventory improves coming out of the chip shortage. Sales in the U.S. made up about 67% of 2022 total company revenue. Ford has about 173,000 employees, including about 57,000 UAW employees, and is based in Dearborn, Michigan.
General Motors Co. General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial. The United States now has four brands instead of eight under the old GM. The company regained its U.S. market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021, with its share up 170 basis points to 16.4%, a full percentage point ahead of Toyota. GM's Cruise autonomous vehicle arm is providing driverless geofenced AV robotaxi services in San Francisco and other cities and has an exclusive deal with Dubai to do the same. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.
Honda Motor Co Ltd. Incorporated in 1948, Honda Motor was originally a motorcycle manufacturer. Today, the firm makes automobiles, motorcycles, and power products such as boat engines, generators, and lawnmowers. Honda sold 21.1 million cars and motorcycles in fiscal 2022 (4.1 million of which were autos), and consolidated sales were JPY 14.6 trillion. Automobiles constitute 63% of revenue and motorcycles 15%, with the rest split between power products and financial services. Honda also makes robots and private jets.
Hyundai Motor Co. Hyundai Motor Co is engaged in the manufacturing and distribution of motor vehicles and parts. The business of the group is operated through vehicles, finance, and other segments. Its vehicle segment is engaged in the manufacturing and sale of motor vehicles. The finance segment operates vehicle financing, credit card processing, and other financing activities. The others segment includes research and development, train manufacturing, and other activities. The company derives most of its revenue from the vehicle segment.
Mercedes-Benz Group AG. Based in Stuttgart, Germany, Mercedes-Benz Group AG makes premium passenger vehicles and commercial vans. Brands include Mercedes-Benz, AMG, and Maybach. Mercedes-Benz Mobility provides the company's dealers and its customers with vehicle financing as well as mobility services in ride-hailing, car sharing and charging. Mercedes owns 11.9% of Aston Martin and 9.6% of Beijing Automotive Group. Li Shufu, chairman of Chinese automaker Geely Automobile, owns 9.7% of Mercedes-Benz. Other major shareholders include Kuwait Investment Authority at 6.8% and Beijing Automotive group at 5.0%.
Tesla Inc. Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. The company sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. Tesla has multiple vehicles in its fleet, which include luxury and midsize sedans and crossover SUVs. The company also plans to begin selling more affordable sedans and small SUVs, light trucks, semi trucks, and sports cars. Global deliveries in 2022 were a little over 1.3 million vehicles.
Tier 3
Tier 3 represents the following 7 companies with gross revenue between $25 billion and $100 billion for the calendar year 2022.
BYD Co Ltd. Founded in 1995, BYD is a leading Chinese manufacturer in the design, development, and production of new energy vehicles, or NEVs. In March 2022, the firm discontinued production of the internal combustion engine, or ICE, vehicles. Its products primarily target the growing mid-priced mass-market segment in China’s passenger vehicle market. The company sold close to 600,000 passenger NEVs in 2021, accounting for about 18% of the Chinese passenger NEV market. Besides automobile production, the company is also engaged in handset components and assembly services, as well as the rechargeable battery and photovoltaics business. After more than 25 years of development, the company has established over 30 industrial parks worldwide.
Kia Corp. Kia Corp is a Korean motor-vehicle manufacturer. While the company has factories in several countries, the majority of vehicles are manufactured domestically. The company's consolidated revenue is principally derived from the manufacture of passenger vehicles, with another third from recreational vehicles, and a small footprint in commercial vehicles. The three largest individual countries together constitute more than half of total retail sales, with the United States contributing the largest portion, followed closely by China and then Korea.
Mazda Motor Corp. Mazda Motor Corp is a Japanese automobile manufacturer. The company primarily manufactures passenger cars and commercial vehicles. Also, Mazda manufactures diesel and petroleum gasoline engines, along with manual and automatic transmissions for vehicles. The vast majority of Mazda's production is manufactured locally. The company segments itself across four geographic areas: Japan, North America, Europe, and other markets. The company derives more than half its consolidated revenue from operations in Japan, followed by North America, and then Europe.
Nissan Motor Co Ltd. While Nissan annually sells about 4 million vehicles, the total calendar 2021 Renault-Nissan-Mitsubishi alliance sales volume of 7.9 million vehicles allies the third-largest vehicle group in the world, behind Toyota at 10.5 million and Volkswagen at 8.6 million vehicles sold. Nissan's financial services subsidiary provides consumers with auto loans and leases. In addition, the subsidiary also finances Nissan's sales to its dealerships (known as floor-plan financing). Nissan is 43.4% owned by French automaker Renault, while Nissan in turn owns 15% of Renault. Nissan also has a controlling 34% interest in Mitsubishi Motors.
Subaru Corp. Subaru Corp is a Japan-based company engaged in the automobile manufacturing business. The company is split into three segments: Automotive Business Unit, Aerospace Company, and Other Businesses. The Automotive Business, which constitutes the vast majority of the company's revenue, manufactures, repairs, and sells passenger cars and their components under the Subaru brand. The Aerospace Company includes airplanes and aerospace-related machinery and components. The Other Businesses segment consists of Industrial products, and real estate leases, among others. A vast majority of the sales are derived from North America.
Suzuki Motor Corp. Suzuki Motor Corp is a Japanese automobile manufacturing company. Suzuki organizes itself into three segments based on product type: automobile, motorcycle, and Marine business. The automotive business, which contributes the vast majority of revenue, largely focuses on passenger vehicles. The motorcycle business manufactures on- and off-road motorcycles and scooters, and contributes the next-largest portion of sales. The Marine business manufactures four-stroke motors for marine use. Nearly half of the consolidated revenue is derived from Asian countries excluding Japan, with a third of sales made domestically.
Volvo Car AB. Volvo Car AB manufactures, designs, and supplies automobiles. The company offers a wide range of cars. Geographically, it derives a majority of its revenue from China and also has a presence in the US; Sweden; Germany; the United Kingdom; Japan, and South Korea. It generates maximum revenue from the sale of new cars.
Tier 4
Tier 4 represents the following 8 companies with gross revenue between $10 billion and $25 billion for the calendar year 2022.
Great Wall Motor Co Ltd. Chinese automobile manufacturer Great Wall Motor is China’s market leader in the SUV and pickup truck segments. In 2021, the company sold over 770,000 Haval-branded SUVs and 140,000 WEY- and Tank-branded SUVs, making it the largest SUV manufacturer by sales volume for the 12th year. It also sold more than 230,000 pickup trucks, also ranked number one in sales volume for 24 consecutive years. China’s domestic market accounts for about 90% of Great Wall’s revenue, with the balance coming from Russia, the Middle East, South Africa, Australia, and Chile, among others.
Guangzhou Automobile Group Co Ltd. Guangzhou Automobile Group Co Ltd is a state-controlled producer of passenger vehicles, motorcycles, and auto parts. The company's activities are broadly classified into two segments; the Vehicles and Related Operations segment, and the Others segment. It engages in the production and sale of automobiles, and motorcycles, offering finance and insurance as well as investing business. The firm's operations are spread across Mainland China and Hong Kong. Its vehicles segment generates a majority of the revenues for the company. Geographically, it derives a majority of its revenue from Mainland China.
Hino Motors Ltd. Hino Motors Ltd is a Japanese automobile manufacturer and a subsidiary of Toyota Motor. The company primarily manufactures and sells medium and heavy commercial vehicles, such as trucks and buses, and light commercial vehicles under the Hino brand. These operations contribute the majority of consolidated revenue. In addition, Hino manufactures passenger vehicles under the Toyota brand, along with engines and spare parts. Domestic sales represent the largest share of Hino's revenue, with Asia excluding Japan the next most significant contributor.
Isuzu Motors Ltd. Isuzu Motors is a Japanese automobile manufacturing company focused on the production of commercial vehicles, passenger vehicles, and diesel engines. The company primarily manufactures light- to heavy-duty trucks, buses, pickup trucks, and industrial diesel engines. Isuzu derives the vast majority of its revenue from vehicle sales. While Isuzu conducts sales across the globe, by individual country, Japan contributes the largest portion of consolidated revenue, followed by Thailand. The company mainly conducts manufacturing operations domestically.
Mahindra & Mahindra Ltd. Mahindra & Mahindra Ltd is a holding company. The company's segment includes Automotive; Farm Equipment; Financial Services; Real Estate; Hospitality and others. It generates maximum revenue from the Automotive segment. The Automotive segment comprises of sale of automobiles, spares, mobility solutions, construction equipment, and related services. Geographically, it derives a majority of its revenue from India.
Mitsubishi Motors Corp. Mitsubishi Motors is a Japanese automobile manufacturer. The company principally produces small passenger vehicles, electric and hybrid vehicles, and sport utility vehicles, or SUVs. Mitsubishi Motors is organized into two business segments: automobile business and automobile financing business. The company derives the vast majority of company revenue from the automotive business. Geographically, the company is separated into five regions: Japan, North America, Europe, Asia (excluding Japan), and others. More than half of its products are manufactured in Japan where it also generates the majority of its consolidated revenue, followed by Asia, and North America.
Sime Darby Bhd. Sime Darby Bhd is a Malaysia-based investment holding company. It organizes itself into five segments, based on business type: motors, industrial, logistics, healthcare, and others. The Industrial segment sells, rents, and services equipment and engineering services; the Motors segment, the largest contributor to revenue, assembles sells, and rents out vehicles and provides after-sales services; the Logistics segment manages port facilities; the Healthcare segment invests in the Ramsay Sime Darby Health Care Group, providers of healthcare services; and Others include insurance broking and other general investments. Sime Darby derives revenue from Malaysia, Greater China, Other Countries in Asia, and Australasia.
Yamaha Motor Co Ltd. Yamaha Motor Co Ltd is an automobile and electronics manufacturing company. The company is organized into five segments based on product type: motorcycles, marine products, power products, industrial machinery and robots, and other products. The motorcycle segment, contributing the majority of consolidated revenue, manufactures on- and off-road motorcycles, along with related motorcycle parts. Marine Products, the next-largest contributor to revenue, manufactures outboard motors, personal watercraft, and boats. Yamaha derives the majority of its sales from Asia, with North America and Europe the next most significant markets.
Tier 5
Tier 5 represents the following 4 companies with gross revenue between $5 billion and $10 billion for the calendar year 2022.
Ferrari NV. Ferrari engineers and manufactures some of the world's most expensive exotic sports cars. The Ferrari brand is synonymous with Formula One racing, exclusivity, Italian design, and state-of-the-art technology. Ferrari also has a captive finance company that provides funding for dealers and clients.
Ford Otomotiv Sanayi AS. Ford Otomotiv Sanayi AS is an automobile manufacturing company domiciled in Turkey. The company principally manufactures, imports, and distributes passenger vehicles, commercial vehicles, and spare parts and accessories under the Ford brand. The company organizes itself into four segments, based on product type: passenger cars, light commercial vehicles, medium commercial vehicles, and trucks. Geographically, domestic sales are most significant, and constitute more than a third of consolidated revenue, followed by England and Germany.
Li Auto Inc. Li Auto is a leading Chinese NEV manufacturer that designs, develops, manufactures, and sells premium smart NEVs. The company started volume production of its first model Li-One in November 2019. The model is a six-seater, large, premium plug-in electric SUV equipped with a range extension system and advanced smart vehicle solutions. It sold over 133,000 NEVs in 2022, accounting for about 2% of China's passenger new energy vehicle market. Beyond Li-One, the company will expand its product line, including both BEVs and PHEVs, to target a broader consumer base.
NIO Inc. Nio is a leading electric vehicle maker targeting the premium segment. Founded in November 2014, Nio designs, develops, jointly manufactures, and sells premium smart electric vehicles. The company differentiates itself through continuous technological breakthroughs and innovations such as battery swapping and autonomous driving technologies. Nio launched the first model, its ES8 seven-seater electric SUV in December 2017, and began deliveries in June 2018. Its current model portfolio includes midsize to large sedans and SUVs. It sold over 122,000 EVs in 2022, accounting for about 2% of the China passenger new energy vehicle market.
Tier 6
Tier 6 represents the following 7 companies with gross revenue between $1 billion and $5 billion for the calendar year 2022.
Aston Martin Lagonda Global Holdings PLC. Aston Martin Lagonda Global Holdings PLC is an independent luxury automotive manufacturer. It designs, engineers, and produces sports cars in Warwickshire, United Kingdom, and sells those models through a network of dealers. Further, it is also involved in servicing of sports cars, all the activities are carried out under the brand name Aston Martin. Geographically, it has a presence in the United Kingdom, The Americas, the Rest of Europe, the Middle East and Africa, and the Asia Pacific from which The Americas derives its maximum revenue.
Jiangling Motors Corp Ltd. Jiangling Motors Corp Ltd is an automobile manufacturing company domiciled in China. The company principally manufactures light commercial vehicles such as vans and pickup trucks, heavy commercial vehicles including heavy-duty trucks, sport utility vehicles, engines, castings, and related vehicle components. It derives the vast majority of its revenue from commercial vehicles and SUVs. Jiangling Motors produces vehicles under the JMC, Yusheng, and Ford brands. The company earns revenue almost entirely domestically.
NFI Group Inc. NFI Group Inc is a global bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer(heavy-duty transit buses), Alexander Dennis Limited ("ADL") (single and double-deck buses), Plaxton (motor coaches), MCI (motor coaches), ARBOC Specialty Vehicles, LLC ("ARBOC") (low-floor cutaway and medium-duty buses) and NFI Parts™ (aftermarket parts sales). The Company has two reportable segments which are the Company’s strategic business units: Manufacturing Operations and Aftermarket Operations. It generates the majority of revenue from Manufacturing Operations.
Piaggio & C. SpA. Piaggio & C. SpA is an Italian manufacturer of motor vehicles with international operations. The product portfolio consists of scooters, mopeds, and motorcycles marketed under the Aprilia, Piaggio, Vespa, Moto Guzzi, Gilera, Derbi, and Scarabeo brands, as well as three- and four-wheeler light vehicles, marketed under the Ape, Porter, and Quargo brands. Piaggio's sales are mainly in Europe, the Middle East, Africa; the Americas; and India, but are also in the Asia-Pacific region. The firm's manufacturing units are located in Italy, India, and Vietnam. Piaggio has a 45% stake in a Chinese joint-venture operation.
Polestar Automotive Holding UK PLC. Polestar Automotive Holding UK PLC operates as an electric vehicle manufacturer. It engages in designing products that are engineered to excite consumers and drive change. Polestar defines market-leading standards in design, technology, and sustainability. Polestar was established as a premium electric car brand by Volvo Cars and Geely Holdings. Polestar has produced two electric performance cars namely Polestar 1 and Polestar 2. Geographically, it derives a majority of its revenue from the USA.
Rivian Automotive Inc. Rivian Automotive Inc designs, develops, and manufactures category-defining electric vehicles and accessories. In the consumer market, the company launched the R1 platform with the first generation of consumer vehicles: the R1T, a two-row, five-passenger pickup truck, and the R1S, a three-row, seven-passenger sport utility vehicle (SUV).
XPeng Inc. Founded in 2015, XPeng is a leading Chinese smart electric vehicle, or EV, company that designs, develops, manufactures, and markets EVs in China. Its products primarily target the growing base of technology-savvy middle-class consumers in the midrange to high-end segment in China’s passenger vehicle market. The company sold over 98,000 EVs in 2021, accounting for about 3% of China’s passenger new energy vehicle market. It is also a leader in autonomous driving technology.
Tier 7
Tier 7 represents the following 5 companies with gross revenue between $100 million and $1 billion for the calendar year 2022.
Blue Bird Corp. Blue Bird Corp is an American bus manufacturing company. It has its operations in two segments. The Bus segment involves the design, engineering, manufacture, and sales of school buses and extended warranties; and the Parts segment which includes the sales of replacement bus parts. It carries its operations in the United States, Canada, and the rest of the world. The majority of its sales are derived from the United States through its bus manufacturing business.
Karsan Otomotiv Sanayii Ve Ticaret AS. Karsan Otomotiv Sanayii Ve Ticaret AS is engaged in the production, import, and export of motor vehicles to automotive brands. It provides industrial services to automotive companies and its activities include the production of spare parts for automotive and other vehicles. The operating segments are the Bus segment reports the production of buses for municipalities, the Karsan segment reports the production of commercial vehicles with its own brand, the Spare Parts segment represents the production of spare parts and the Industrial Sales segment reports the cataphoresis processes and tractor cabin. The group operates in Turkey and internationally and generates the majority of its revenue from the Hyundai segment.
Lucid Group Inc. Lucid Group Inc is a technology and automotive company. It develops the next generation of electric vehicle (EV) technologies. It is a vertically integrated company that designs, engineers, and builds electric vehicles, EV powertrains, and battery systems in-house using its own equipment and factory.
Niu Technologies. Niu Technologies designs, manufactures, and sells high-performance smart e-scooters. The company has built smart e-scooters based on advanced and innovative technologies, including smart technologies, powertrain, and battery technologies, and automotive-inspired functionalities. It offers N, M, and U series e-scooters with various models or specifications under the NIU brand name. The Group's principal operations and geographic markets are mainly in the People's Republic of China.
Proterra Inc. Proterra Inc is a developer and producer of commercial electric vehicle technology with an integrated business model focused on providing end-to-end solutions that enable commercial vehicle electrification through three main business units: Proterra Powered, Proterra Energy, and Proterra Transit. Geographically, it derives a majority of its revenue from the United States.
Tier 8
Tier 8 represents the following 5 companies with gross revenue between $10 million and $100 million for the calendar year 2022.
Envirotech Vehicles Inc. Envirotech Vehicles Inc is a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. It recognizes revenue from the sales of zero-emission electric vehicles and vehicle maintenance and inspection services.
GreenPower Motor Company Inc. GreenPower Motor Company Inc is the manufacturer and distributor of all-electric charter, school, and city buses. The company offers electric-powered transit buses deploying electric drive and battery technologies with a lightweight chassis and low-floor body. Its product line includes All-electric transit buses and All-electric school and shuttle buses. The company's buses depend on clean sheet design and utilize a custom battery management system and a proprietary flex power system for the drive motors. The company operates in one reportable operating segment, being the manufacture and distribution of all-electric transit, school, and charter buses.
LiveWire Group Inc. LiveWire Group Inc is an all-electric vehicle company. It sells electric vehicles and related parts and accessories and apparel in the United States and certain international markets. The company's segment includes Electric Motorcycles and STACYC. LiveWire generates revenue from the sale of electric motorcycles, electric balance bikes, related P&A, and apparel.
Sondors Inc. Sondors Inc designs develop, markets, and sells SONDORS-branded premium electric bikes and electric vehicles in the United States and abroad. The company provides customer service and technical support for its electric bicycles with the intention, in certain areas, to utilize mobile technicians capable of performing most inspections and repairs for all products. The company’s revenue channels are all related to sales of their e-bikes.
Vicinity Motor Corp. Vicinity Motor Corp is a Canadian bus manufacturer. The company is engaged in designing, engineering, and manufacturing mid-size buses for transit authorities and commercial enterprises. Geographically, it derives a majority of its revenue from Canada and also has a presence in the United States. The company derives maximum revenue from bus sales. It also supplies the Spare part.
Tier 9
Tier 9 represents the following 4 companies with gross revenue between $1 million and $10 million for the calendar year 2022.
Electrameccanica Vehicles Corp Ltd. Electrameccanica Vehicles Corp Ltd is a development-stage electric vehicle or EV, designer, and manufacturer company. The company's product line targets urban commuters, commercial fleets/deliveries, and shared mobility seeking to commute in an efficient, cost-effective, and environmentally friendly manner. The company's first flagship EV is the SOLO, a single-seat vehicle, of which it has built 64 prototype vehicles in-house and 60 pre-production vehicles with its manufacturing partner, Zongshen. The company's reportable business segments include Electric Vehicles which are the development and manufacture of electric vehicles for mass markets, and Custom built vehicles which are the development and manufacture of high-end custom-built vehicles.
Phoenix Motor Inc. Phoenix Motor Inc designs, assembles, and integrates electric drive systems and light and medium-duty electric vehicles (EVs) and markets and sells electric vehicle chargers for the commercial and residential markets. The Company operates two primary brands, Phoenix Motorcars focused on commercial products including medium-duty electric vehicles, chargers, and electric forklifts, and EdisonFuture which intends to offer light-duty electric vehicles.
Volcon Inc. Volcon Inc is an all-electric, off-road powersports vehicle company developing and building electric two and four-wheel motorcycles and utility terrain vehicles, also known as side-by-sides, along with a complete line of upgrades and accessories. The company's products include motorcycle and UTV products that are all-electric and designed for off-road use.
Workhorse Group Inc. Workhorse Group Inc is a technology company. It designs, develops, manufactures, and sells high-performance, medium-duty trucks with powertrain components under the Workhorse chassis brand. The company's products include trucks comprising powertrain and chassis. Its powertrain products include E-GEN and E-100. E-GEN is an electric drive, transmission-free system, which has a gasoline/propane or compressed natural gas (CNG) engine that functions as an auxiliary generator. E-100, an all-electric, medium-duty truck, is an electric power train. The company generates key revenue from the Automotive Revenue which consists of sales of any of its E-GEN or E-100 platforms.
Tier 10
Tier 10 represents the following 3 companies with gross revenue of up to $1 million for the calendar year 2022.
First Hydrogen Corp. First Hydrogen Corp is a designer and manufacturer of zero-emission, long-range hydrogen-powered utility vehicles in the UK, EU, and North America.
Fisker Inc. Fisker Inc is revolutionizing the automotive industry by developing emotionally desirable and eco-friendly electric vehicles on Earth. The company is an e-mobility service provider with sustainable vehicles.
Sono Group NV. Sono Group NV is engaged in the field of solar-powered electric mobility. With its proprietary solar technology, the company can integrate solar panels into a vehicle’s bodywork, using energy captured from the sun to charge the vehicle’s battery. The group is engaged in the design and development of its own first solar electric vehicle, the Sion. The company is also involved in process of integrating its solar technology with other manufacturers for different use cases, such as buses, trucks, camper vans, trains, and even boats, to accelerate the transition towards sustainable transportation.
