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Why It Matters

A revolution in transportation is underway.

Since the early 20th century, internal combustion engine vehicles have dominated roads. Today, we know that this picture needs to fundamentally change if we are to beat climate change. Thankfully, the picture is starting to change.

Owing to supporting policies, declining costs and improved technology, there are millions of electric vehicles (EVs) on the road. Their sustainability advantages are huge. Compared to internal combustion vehicles, EVs emit 50% less CO2 if their power comes from the conventional power grid. If they're powered by solar energy, emissions are cut by 95%. EVs have far fewer moving parts than gas-powered cars, too, which means their operating costs are often cheaper.

The revolution needs to come faster.

Around 11 million EVs and electric vans were being driven in 2020. That's 5% of all cars in the world. But according to the International Energy Agency (p. 138), to be on track to keep global temperatures under 1.5°C above pre-industrial levels, 100% of passenger cars and vans need to be electric by 2050. 

EV companies need to grow fast, and car manufacturers for whom EVs aren't their main business need to get on board.

Here are the EV companies that are leading the way.

Here is the list of EV companies that are traded on US stock markets. We choose companies that derive more revenue from manufacturing EVs than they do from fossil fuel-dependent products and services (like conventional cars). We also exclude penny stocks whose share prices were less than $0.50 in our last update.

If you are a Carbon Collective member, you own all of these companies through the Climate Index.

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