Hitting the accelerator pedal and then some, the global electric vehicle (EV) market massively revved up last year, with sales surging by 60% and surpassing the magic 10 million unit threshold for the first time. As the transition to zero-emission motoring gathers pace, sales are expected to skyrocket even further in the coming years. 

Read on to find out who's leading the race, and what big names such as Ford, Toyota, and Volkswagen are doing to try to keep up. All dollar amounts in US dollars.

Currently the world's second-biggest automaker, legacy contender Toyota is lagging behind in the EV race.

In 2022, a paltry 0.2% of the Japanese manufacturer's total production was made up of battery electric vehicles (BEVs), which are essentially pure electric models, with sales amounting to fewer than 20,000 units.

That said, Toyota's total electrified sales, which include hybrids and fuel-cell vehicles, came in at a healthier 2.73 million units.

The future, however, is in BEVs, meaning that Toyota has an almighty struggle on its hands if it wants to compete with the likes of Tesla.

Toyota recently announced the launch of a dedicated EV platform, and its longtime CEO Akio Toyoda, who's been slammed for being asleep at the wheel in the EV race, is stepping down on 1 April to be replaced by Koji Sato (pictured).

The new CEO has vowed to "drastically" accelerate the rollout of new EVs – but whether he can practice what he's preaching remains to be seen...

Ford has also arrived late to the EV party, but the Big Three American automaker has been making up for lost time in a big way.

The Biden administration is pushing for half of US vehicle sales to be electric by 2030, and included a $7,500 (£6k) tax credit for drivers purchasing an EV in last year's Inflation Reduction Act – a huge incentive for Ford.

The Michigan-based firm trailed behind only Tesla last year in terms of EV deliveries in the US. This was thanks to buoyant sales of its flagships models, the Mustang Mach-E compact crossover SUV, and the F-150 Lightning, which leads the American electric pick-up truck market, despite some quality hiccups. And Ford has just released its first all-electric SUV – the Explorer – which is set to make waves in the European market. 

Looking ahead, Ford is building a $3.5 billion (£3bn) EV and battery factory in Michigan to ramp up production in the US, and is also pushing ahead with its goal of producing only all-electric passenger vehicles in Europe by 2030. 

Volvo has an even loftier objective: to produce exclusively all-electric vehicles in all global markets by 2030.

The Swedish brand, which is ultimately owned by Chinese automaker Geely, is shaping up to be a powerful player in the electric car industry, with its focus on safety and sustainability a major asset.

It's a similar story for its subsidiary Polestar. EVs produced by both marques have garnered critical acclaim and their upcoming models are also poised to wow.

The Volvo EX90 electric mid-sized SUV (pictured), which is expected to ship from later this year, as well as 2023's updated subcompact crossover electric C40, have both been described as "game changers".

Likewise, the gorgeously sleek Polestar 3, which is the first SUV from the brand and is set to enter production later this year, is likely to shake up the luxury market and leave rivals such as Mercedes-Benz, BMW, and Tesla quaking in their lanes.

Already one of China's largest carmakers, Chery Automobile has ambitious plans to take on Tesla and other high-end EV makers with a new premium EV platform. Its first model is due for release in September.

The 13th-biggest BEV and hybrid vehicle producer globally in 2022, it's also developing two other EV platforms, and is pumping the equivalent of billions of dollars into research and development.

The Chinese state-owned firm is investing in six R&D centres in China, Europe, the US, South America, and India, and is reportedly planning to build EV plants in Indonesia and Argentina.

Chery is well established in developing countries, with Russia, Chile, Brazil, and Egypt its key foreign markets, and it's also making strides in continental Europe and Australia.

It's entering the UK market by launching all-electric and hybrid versions of its Omoda 5 compact crossover SUV in 2024, although a US expansion is likely to be some years away.

Staying with Chinese state-owned automakers, GAC Group surpassed Chery Automobile in total vehicle sales last year, and was ahead in terms of BEV and hybrid models.

In fact, the Guangzhou-based group is aiming to go all-electric by as early as 2025 according to the company's president Feng Xingya, though its focus will be on hybrids.

In keeping with its all-electric strategy, the automaker is planning to release at least two electric models each year by the middle of the decade.

GAC predominantly concentrates on the domestic market, with just 2.8% of its revenue for the first half of 2022 made up of exports.

The Middle East is its key overseas market, though it's also been making inroads in South America and the Philippines.

The Renault-Nissan-Mitsubishi Alliance is behind two of the most popular compact EVs of all time: the Renault ZOE and the Nissan LEAF.

Collectively, they're yet another competitor that's going all-out to eclipse the current leaders in the global EV market. Last November, the Renault Group created a new standalone company called Ampere to oversee its EV and software activities.

Nissan intends to take a stake of up to 15% in the new firm, while Mitsubishi is still mulling over whether to have a piece of the Ampere pie.

In any case, the Alliance is collaborating on various EV projects across Latin America, India, and Europe, and is going full throttle with its plan to launch 35 new EV models by 2030. This is underpinned by an investment of around $25 billion (£21bn).

Mercedes-Benz Group, which marginally overtook the Renault-Nissan-Mitsubishi Alliance in 2022 when it came to BEV and hybrid EV sales, could very well speed ahead when it comes to EV production due to its goal of going all-electric by 2030.

The group is getting busy laying the groundwork for its carbon-neutral transformation, which comes with the careful caveat of "where market conditions allow".

In January, for instance, Mercedes-Benz announced it would be installing a network of 2,500 high-powered chargers in the US by 2027.

The German automaker is prioritising luxury electric cars and has forecast its sales of EVs will double this year. This growth will be fuelled by the Mercedes-Benz EQS SUV, which was unveiled last April, and the Mercedes-Maybach S580e sedan, the debut plug-in hybrid from the premium marque.

Geely Auto, the principal brand of Geely, which also owns Volvo and its offshoot Polestar, is ramping up its electric transition, which has been bolstered by soaring sales of its current EV ranges throughout 2022.

Last year, deliveries of its pure electric Geometry series surged by 170%, and the Chinese automaker expects to see sales increase by more than 100% for its new energy models in 2023.

The firm has also cemented its position as a leader in battery-swapping and has made significant improvements to Leishen Power, its intelligent hybrid system.

What's more, Geely Auto announced a new EV sub-brand called Galaxy in February, with plans to launch seven EVs over the next two years in the Chinese market.

Geely Auto is also bringing its premium EV brand Zeekr to Europe this year and is targeting worldwide sales of 650,000 units by 2025. This would place the brand among the top three in the global high-end EV industry and present a real threat to Tesla outside of the US.

BMW Group has also set its sights on expanding its share of the higher end of the EV market, to Tesla's detriment.

In addition to that, it's planning to release a number of lower-priced models, in stark contrast to rival Mercedes-Benz's focus on luxury vehicles only.

Last year, the German automaker doubled its sales of all-electric cars, shifting 215,755 BEVs despite headwinds that included the war in Ukraine and China's zero-COVID policy.

For the time being, however, premium EVs are set to dominate. In 2022, the German automaker launched the first electric seven series model, the BMW i7, which came hot on the heels of the Spectre, the debut fully electric car from BMW subsidiary Rolls-Royce. This year will see the launch of the all-electric BMW i5.

BMW Group anticipates that more than 50% of its global sales will come from fully electric models by 2030, and the automaker has brought forward its MINI brand's all-electric transition from "the early 2030s" to the end of the current decade.

South Korea's Hyundai Motor has been pegged as a formidable competitor in the electric market, with its all-electric IONIQ range outpacing Tesla's flagship models in many a comparison. This is the newly released IONIQ 6. 

There's also the legacy automaker's luxury Genesis division, which is likely making Elon Musk nervous as well. The spanner in the works for Hyundai, however, is the Biden administration's Inflation Reduction Act.

Only EVs assembled in America qualify for the $7,500 (£6k) rebate, putting Hyundai and other foreign automakers at a distinct competitive disadvantage in the US.

So the South Korean firm has begun assembling the Genesis Electrified GV70 in Alabama and is constructing a $5.5 billion (£4.5bn) EV plant in Georgia.

Elsewhere, Hyundai and its subsidiary Kia are further solidifying their piece of the pie by flooding global markets with EVs – for example, the company already offers one of the largest ranges of models in Europe.

While Stellantis sold more EVs overall last year than Hyundai Motor, it sold fewer BEVs.

The monster automaker, which was formed in 2021 following the merger of Fiat Chrysler and PSA Group, is committed to selling only BEVs in Europe by 2030 under its "Dare Forward" plan, and aims to derive half its US sales from BEVs by the same deadline.

All in all, the group is planning to offer over 75 BEV models by 2030, as well as reach global annual BEV sales of five million units by that date too.

Stellantis is clearly aiming to be top dog in Europe when it comes to BEVs. Having already overtaken Tesla on the continent, the group is pulling out all the stops to shoot ahead of the current European BEV number one, BMW Group.

Presently, Stellantis' BEV bestsellers include the Fiat New 500, Peugeot e-208, Opel Corsa-e, and Citroën ë-C4.

America's General Motors is doubling down on its transition to electric, with the goal of becoming an exclusively electric automaker by 2035.

At the current time, the Big Three automaker is restructuring in order to take on rival Ford in the EV arena, as well as Tesla.

It currently produces only two electric cars, the Cadillac Lyriq and Chevrolet Bolt EV/EUV, as well as an electric pick-up truck and van. However, it's significantly increasing its line-up this year, with an additional five EV models due to hit the road.

GM aims to sell a million BEVs in the US annually by 2025, up from just 39,096 last year. The firm has also launched its GM Energy arm with a view to becoming a leader in battery technology and energy management services.

The company's joint venture with Chinese automakers SAIC and Wuling is also going from strength to strength, despite a slowing EV market in the People's Republic. Its budget-friendly Mini EV remains the country's bestselling EV and comfortably outpaces sales of the Tesla Y.

Another legacy player that was something of a late starter in the EV race, VW Group is now making an all-out effort to challenge Tesla on its home turf and elsewhere, as well as its other competitors.

The group is building a battery gigafactory in Canada to facilitate its ambitious growth plans in North America, where it expects to introduce 25 new EVs by the end of 2030.

Already the European EV market leader, VW Group is further cementing its leading position on the continent with gigafactories in Germany, Sweden, and Spain. The automaker announced earlier this year that it expects 80% of the cars it sells in Europe to be electric by 2030, having increased its original 2021 target of 70%.

Last November, VW Group's flagship brand Volkswagen achieved its goal of selling 500,000 EVs a whole year earlier than anticipated, and is also planning to release 10 new EV models by 2026. This vehicle pictured here is the newly launched ID. Buzz.

In addition to that, the group is also committed to expanding its EV offerings in China, where it dominates the combustion engine car market.

In 2022, Tesla sold more BEVs globally than any other automaker and the Tesla Model Y was the most popular plug-in EV on the planet, shifting 771,300 units.

Deliveries of the Model Y and Model 3 surpassed 1.2 million during the year, an increase of 37% from 2021. Despite these buoyant sales, 2022 was far from an easy ride for the Texas-based company.

Increased competition, slowing growth in China, and a number of other factors, including CEO Elon Musk's disastrous takeover of Twitter, all hammered the brand's share price, which lost 65% of its value during the year.

However, Musk has come out fighting. At the start of 2023, Tesla aggressively slashed prices in China, the US, Europe, the Middle East, and Africa, with cuts of up to 20%, panicking both start-up and legacy rivals that were keen to shrink the company's global market share.

In early March, Musk unveiled the grandiose "Master Plan 3", which laid out his vision for a sustainable future where Tesla's EVs are front and centre. He also hinted at a super-affordable new Tesla model, as well as confirming plans for a $5 billion (£4bn) gigafactory in Mexico.

Thanks to its cornering of the Chinese market, BYD ("Build Your Dreams") was the world's number-one EV automaker in 2022, with sales more than tripling from the previous year to hit a record 1.85 million units.

As already mentioned, Tesla is the global leader in terms of BEVs, while SAIC-GM-Wuling's Mini EV is the top-selling EV model in the People's Republic.

However, BYD still dwarfs its competitors in China overall. Seven of the top 10 bestselling EVs in China are BYD models, with the BYD Song compact SUV the most popular of the lot.

The company is going global, having embarked on a rapid worldwide expansion that focuses on markets in South America, Australia, and Europe. A limited number of BYD models are now available in the UK. 

According to Reuters, BYD is eyeing the American market with caution due to geopolitical tensions and the implications of the Inflation Reduction Act, and is unlikely to gain a foothold in the country any time soon.

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