In less than two years, Tesla will likely lose the crown of the world’s largest electric vehicle company, according to a study by Bloomberg Intelligence published June 14. Overtaking it as the company selling the most EVs could be German auto giant Volkswagen Group, whose EV lineup is growing rapidly across several brands and challenging Tesla’s popularity in the world’s largest markets for electric vehicles.
Volkswagen is the world’s second largest carmaker after Toyota by sales volume. Aside from its eponymous Volkswagen brand, the group also owns Audi, ŠKODA, Lamborghini, Porsche and six other auto brands. Its electric vehicle offerings under the VW, Audi and Porsche brands compete with Tesla’s mass-market Model 3 and Y and its luxury Model S and X cars.
Last year, Volkswagen sold about 450,000 electric cars globally. That’s less than half of what Tesla delivered. However, when excluding the U.S.—where Tesla is a clear winner—the two companies are fairly close rivals, especially in Europe and China, the world’s top two markets for passenger EV, according to the Bloomberg report. In 2021, EV sales in these two regions combined were more than five times that of the U.S., per Bloomberg data.
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