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Public Comps and Valuation Multiples for Electric Vehicles

Benchmark revenue and EBITDA valuation multiples for public comps like
Tesla, CATL, BYD, LG Energy Solution and Volvo.

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Electric Vehicles

Viewing 50 of 90 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Tesla	$1.6T	$1.6T	$98B	16.2x	108.3x
CATL	$301B	$259B	$71B	3.7x	15.5x
BYD	$127B	$129B	$123B	1.0x	7.5x
LG Energy Solution	$76B	$89B	$18B	5.0x	25.8x
Volvo	$71B	$92B	$54B	1.7x	11.4x
Ford	$49B	$178B	$190B	0.9x	16.7x
Rivian	$19B	$21B	$6B	3.5x	(10.2x)
Li Auto	$18B	$6B	$17B	0.3x	11.1x
Tata Motors	$17B	$17B	$9B	2.0x	16.5x
Hyundai Motors India	$16B	$15B	$8B	2.0x	16.5x
Ecopro BM Co.	$16B	$17B	$2B	9.2x	109.7x
XPENG	$15B	$13B	$12B	1.0x	1065.9x
NIO	$15B	$18B	$15B	1.2x	(30.0x)
Tata Motors Passenger Vehicles	$14B	$15B	$37B	0.4x	6.1x
Joby Aviation	$11B	$9B	$75M	118.9x	(15.1x)
VinFast	$10B	$15B	$4B	3.3x	(6.8x)
Leapmotor Technology	$9B	$6B	$11B	0.5x	16.5x
Volvo Cars	$7B	$6B	$39B	0.2x	1.7x
ZEEKR	$7B	$10B	—	—	—
BAIC BluePark New Energy	$7B	$6B	$5B	1.1x	(26.2x)
Archer Aviation	$5B	$3B	$5M	579.0x	(5.4x)
QuantumScape	$5B	$4B	$20K	190784.5x	(15.0x)
Ninebot	$5B	$3B	$3B	1.0x	9.6x
BETA Technologies	$4B	$3B	$37M	74.8x	(8.5x)
Pony AI	$4B	$3B	$105M	28.6x	(12.9x)
Ather Energy	$4B	$3B	$408M	8.6x	(83.9x)
Aima Technology Group	$3B	$2B	$4B	0.7x	5.9x
Voyah	$3B	$2B	—	—	—
Eos Energy Enterprises	$3B	$3B	$182M	16.4x	(15.3x)
Mitsubishi Motors	$3B	$2B	$19B	0.1x	2.4x
WeRide	$3B	$2B	$120M	12.8x	(6.2x)
Lucid	$2B	$5B	$2B	3.1x	(1.8x)
Amprius	$2B	$2B	$93M	24.7x	(1144.1x)
Polestar	$2B	$7B	$3B	2.2x	—
T1 Energy	$2B	$2B	$809M	2.7x	(129.5x)
Uniconn	$2B	$2B	—	—	—
Ola Electric	$2B	$2B	$262M	5.9x	(18.1x)
Fastned	$1B	$2B	$182M	9.0x	61.4x
Eve Air Mobility	$1B	$992M	$79K	12529.6x	(4.3x)
Kempower	$847M	$830M	$323M	2.6x	90.0x
Lotus Technology	$777M	$3B	$594M	4.3x	(7.4x)
Ehang	$741M	$646M	$82M	7.9x	(31.8x)
Saean Group	$714M	$714M	—	—	—
Microvast	$707M	$987M	$446M	2.2x	—
Solid Power	$692M	$444M	$14M	31.2x	(5.8x)
ADS-TEC Energy	$672M	$738M	$32M	23.4x	—
Phoenix Bicycle	$631M	$582M	—	—	—
EV Motors	$583M	$682M	$583M	1.2x	34.6x
RattanIndia Enterprises	$553M	$656M	—	—	—
Zaptec	$381M	$340M	$174M	2.0x	20.6x
Vertical Aerospace	$358M		—
LiveWire	$338M		$26M
Alfen	$317M		$522M
EVgo	$277M		$402M
Niu Technologies	$249M		$682M
WLM	$164M		—
ChargePoint	$152M		$414M
MIC Electronics	$141M		—
Blink Charging	$121M		$105M
Automob	$114M		$3B
Aptera Motors	$94M		$45K
Gogoro	$81M		$286M
GreenMobility	$81M		—
XCHG	$73M		$29M
Kandi Technologies Group	$70M		—
APR Technologies	$54M		—
Wallbox	$49M		$180M
Beam Global	$39M		$32M
Workhorse	$38M		$28M
Ebusco Holding	$27M		—
Envirotech Vehicles	$27M		—
Stardust Power	$24M		—
Xos Trucks	$22M		$46M
Hypercharge Networks	$8M		—
Lobo Technologies	$8M		—
Delta Autocorp	$7M		—
ChargePanel	$7M		—
Sono Group	$6M		—
Lion Electric	$5M		—
Canoo	$5M		—
Hopium	$4M		—
U Power	$3M		—
Fly-E Group	$3M		—
Nexity Global	$3M		—
Triggo	$2M		—
Allego	$301K		—
Lilium	$190K		—
e.GO Mobile	$9K		—
Chijet Motors	—		—
Envoy Technologies	—		—