BYD Cruises Past Tesla to First Place in ABI Electric Vehicle Manufacturers Competitive Ranking

29 August 2024

A new competitive assessment by global technology intelligence firm ABI Research has found that BYD is the leading Electric Vehicle (EV) Original Equipment Manufacturer (OEM), just beating Tesla for the top spot. The assessment provides an in-depth and unbiased examination of the products offered by 18 OEMs across a wide range of criteria. The companies evaluated and ranked are:

Market Leaders: BYD, Tesla

Mainstream: GAC Aion XPENG

Followers: BMW, Volvo

"The EV market is rapidly growing and is the clear future of the automotive industry. OEMs have had widely differing responses to the EV transition as an opportunity and a challenge; some have fully embraced the technology, while others are being dragged into it against their wishes. This is reflected in their innovation and implementation capabilities,�?? explains Dylan Khoo, Industry Analyst at ABI Research

Nine criteria were chosen for this analysis, segmented between innovation and implementation clusters. These included the OEMs’ battery technology, platform design, coverage of different vehicle segments, and electrified share of sales. BYD and Tesla stand out as the overall market leaders; electric-only brands from China, such as ZEEKR, XPENG, and GAC Aion, are also notable for their strong performance in the innovation rankings.

BYD, the Chinese OEM taking the world by storm, is ahead of Tesla at the top of the rankings. Tesla scored strongly in vehicle range, platform innovation, and fast charging capabilities. However, BYD significantly outperformed Tesla with its degree of vertical integration and the number of models it offers in different segments.

The automotive industry is in a state of transition, and this assessment demonstrates the varying capabilities of OEMs as they try to make it through this period and come out on top. In some areas, the new upstart EV brands are a generation ahead of many ‘legacy OEMs’. The incumbents must look to technology solutions providers to revolutionize their capabilities and ensure they can maintain their position as the industry electrifies,�?? Khoo concludes.

These findings are from ABI Research’s Electric Vehicle OEMs research service, which includes research, data, and ABI Insights. Competitive Ranking reports offer a comprehensive analysis of implementation and innovation strategies to offer unparalleled insight into a company's performance and standing compared to its competitors.

About ABI Research: ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.