Ten major Tesla rivals

Ten major Tesla rivals
Ten major Tesla rivals

Electric cars are plug-in electric automobiles that use electric motors for propulsion, using energy stored in rechargeable batteries.

Lithium-based batteries are often chosen for their high power and energy density, although may wear out over a long period of time.

For decades, governments have been reluctant to ban gasoline- or diesel-burning engines for automobiles due to the absence of alternatives to fossil-fuel powered transportation.

However, a renaissance in electric vehicle manufacturing has occurred since 2008, thanks to advances in battery technologies, concerns about surging oil prices, and the desire to reduce greenhouse gas emissions.

While electric cars are less expensive to run compared to internal combustion engine vehicles due to lower cost of repairs and energy, on average, electric cars still cost significantly more to initially buy.

Several national and local governments have established tax credits, subsidies, and other incentives to promote the adoption in the mass market of new electric vehicles.

Norway, Britain, France, Germany and the Netherlands have set goals to ban sales of new petrol and diesel cars. The decision by these countries is seen as a victory for electric cars and a blow to the internal combustion engine.

China is currently the world's largest maker of pure electric vehicles.

The burgeoning electric vehicle market is currently dominated by Tesla. However, newer rivals are aggressively moving into the luxury electric vehicle space.

Here is a look at the ten major rivals to Tesla.