The alternative fuel vehicle market has come a long way since General Motors introduced the first electric car in 1996. In the last few years, the best EV startups are actively creating electric vehicles whose alternative source of fuel will reduce the carbon footprint on the environment. Legacy automakers are no longer the only game in town.
As more electric cars are being sold every week, both new and old companies are rising to meet this demand. In this article, we’ll focus on the best EV companies that are taking the electric vehicle industry by storm.
What Are EV Startup Companies?
An electrical vehicle (EV) startup is a company that’s breaking into the electric car industry and competing with traditional automakers. These companies get their funding from seed capital, crowdfunding, or loans. They also develop key partnerships with investors to help scale the startup. Most of these companies expand at a rapid rate.
The electric vehicle industry is a high-growth market with dozens of companies vying to be the leader in the industry. According to a 2021 Statista report, nearly 15 million units of battery-electric vehicles were sold in the US alone.
Top EV Companies That Began As Startups
Companies such as Tesla, Lucid Motors, Rivian, Rimac, and Fisker Company have been in the electric motor car industry for quite some time, gobbling up market share. Even so, these electric car companies have paved the way for other companies to come in, proving that EV sales, which once seemed impossible, can now be done on a massive scale.
Big EV Companies
- Tesla
- Lucid Motors
- Rivian
- Rimac
- Fisker Company
The Best EV Startup Companies
| Company Name | Location | Funding | Number of Employees |
|---|---|---|---|
| Aptera Motors | Carlsbad, California | $61M | 60 (2022) |
| Arrival | London, England | $629M | 2,000+ (2021) |
| Bollinger Motors | Oak Park, Michigan | $10M | 48 (2022) |
| Canoo | Torrance, California | $300M | 500+ (2021) |
| Faraday Future | Gardena, California | $3.2B | 383 (2022) |
| Hyzon Motors | Honeoye, New York | $1.7B | 200 (2022) |
| Li Auto Inc. | Beijing, China | $1.2B | 11,901 (2021) |
| Lordstown Motors | Warren, Ohio | $915M | 1,500 (2021) |
| Nikola Motor | Phoenix, Arizona | $3B | 900 (2021) |
| NIO Inc. | Shanghai, China | $5.4B | 9,834 (2021) |
The Top EV Startups: A Closer Look
Aptera Motors
- Founded: 2019
- Funding: $61M
Aptera was founded in 2019. The company specializes in solar-powered electric vehicles. The solar panels are attached to the cars so you can charge while driving. These cars can go around 40 miles per day. The starting price for the vehicles is $25,900.
Arrival
- Founded: 2015
- Funding: $629M
This UK-based EV startup is focused on producing environmentally-friendly town cars. It’s at the point of launching its first-ever electric delivery van. Plans are also underway for an all-electric bus and a rideshare car in partnership with Uber. Through its Build Green initiative, Arrival also buys industrial facilities.
Bollinger Motors
- Founded: 2014
- Funding: $10M
In 2017, the company designed the B1, an electric SUV. It also designed the B2, an electric pickup truck that was supposed to go into production around 2021. However, it has paused the production of these vehicles.
The company has now shifted its focus to designing and engineering Class 3-6, an all-electric truck platform. These durable, dependable, and efficient vehicle platforms will have all the safety features that trucks need, such as a 360-degree sensor wing and automated emergency brakes.
Canoo
- Founded: 2018
- Funding: $300M
As an electric vehicle startup, Canoo’s main aim is to promote a greener planet by making electric vehicles accessible to everyone. They’re going to launch an electric minivan, delivery van, and electric pickup truck later this year. Their pod-like vehicles will go into production in 2023.
Faraday Future
- Founded: 2014
- Funding: $3.2B
With offices in Silicon Valley, Beijing, Shanghai, and Chengdu, this Chinese EV maker is focused on producing AI and cloud-enabled autonomous vehicles. It first revealed its flagship electric car, the FF 91, in 2017 but faced several production issues. However, new plans are underway as of the third quarter of 2022.
Hyzon Motors
- Founded: 2020
- Funding: $1.7B
Hyzon Motors is new to the electric car market. The company is a manufacturer of zero-emission vehicles that don’t compromise on power or range. It has already distributed its hydrogen-powered vehicles on four continents. Its Hyzon Class 8, Hyzon Hymax Series, and Hyzon High Floor Coach have already been sold in North America, Australia, and Asia.
Li Auto Inc.
- Founded: 2015
- Funding: $1.2B
This China-based company designs, develops, sells, and manufactures new energy passenger vehicles. Its main focus is sport utility vehicles. The first model Li ONE was produced in November 2019 and the second version of Li ONE came out in May 2021. It also provides vehicle Internet connection and charging stalls.
Lordstown Motors
- Founded: 2018
- Funding: $915M
This Ohio-based company was founded by Steve Burns. Its main focus is on producing lightweight electric vehicles. Lordstown got a $400 million commitment from YA Ⅱ PN Ltd., a hedge fund company. Additionally, plans are still underway to manufacture the Endurance, a commercial pickup truck for fleets.
Nikola Motor
- Founded: 2015
- Funding: $3B
This automaker delivered its first test electric trucks to a trucking company in Southern California, Total Transportation Services Inc. It plans to deliver to the same company two different trucks, the Tre BEV truck in 2022, followed by the Tre FCEV truck in 2023.
NIO Inc.
- Founded: 2014
- Funding: $5.4B
NIO Inc. produces AI-enabled high-end electric cars that have been designed and manufactured in Shanghai, Beijing, and San Jose. In 2016, NIO unveiled one of the fastest electric cars, the EP9. This was followed by EVE in 2017, NIO ES6 in 2018, NIO EC6 in 2019, and NIO ET7 in 2020. Deliveries have started on all these cars except for the recently launched ET7.
Benefits of Working at an EV Startup
EV startups are constantly re-inventing themselves and offering their employees a great environment to grow their skills and careers. These startups help their employees cultivate their craft and help them advance as they progress in their profession.
Top 5 Reasons to Work at an EV Startup
- Contributing positively to the environment. You’ll get the chance to be a part of green initiatives that can potentially change the world.
- Earning a respectable living. The best EV startup companies continuously look for talent and offer their employees competitive employment packages.
- Career growth opportunities. As this is a relatively new industry, you’ll have many opportunities to grow your career either through moving up the ladder or starting a new career altogether.
- Job satisfaction. Working for an EV startup comes with fulfillment and contentment when you consider the impact electric cars will have on the environment.
- Startup culture. Most startups promote creative problem-solving and will give you the opportunity to be as autonomous as you need to be to come up with great ideas.
Can a Coding Bootcamp Help Me Get a Job at an EV Startup?
Yes, a coding bootcamp can help you get a job at an EV startup company. Even though no specific bootcamps are offering EV-related programs, there are industry-relevant skills that you can learn to help you in your career journey. You can learn AI and machine learning, software development, and product design to prepare yourself for taking on the electric vehicle market.
Top Bootcamps with EV Programs
- Simplilearn. This bootcamp offers artificial Intelligence, machine learning, software development, and cyber security courses.
- Flatiron School. This coding bootcamp has software engineering, cyber security, and product design courses.
- Hack Reactor. It has a 12-week software engineering course, a 36-week software engineering immersive course, and a 19-week software engineering with Python and Java course.
- Springboard. This coding bootcamp offers software engineering, cyber security, and UI/UX design programs.
- The Tech Academy. It has a 22-week full-time and 40-week part-time course for software development.
Common Jobs in EV
- Electrical Engineer: An electrical engineer is in charge of designing and diagnosing all the internal electric circuits in an electric car. Understanding this technology is probably the most important part of EV manufacturing.
- Electronics Engineer: An electronics engineer creates and tests the electronic systems of an electric vehicle, such as the control systems. As an electronics engineer, you’ll also be tasked with setting up the internal circuit components of an electrical vehicle.
- Mechanical Engineer: Mechanical engineers are responsible for the design and development of engines, steering systems, transmissions, and other machines that are used in electric vehicles.
- Software Engineer: As a software engineer, you’ll be tasked with developing the embedded systems and applications that’ll be used in evaluating the performance of electrical vehicles.
Should I Work for an EV Startup Company?
Yes, you should work for an EV startup company, especially if you’re interested in the auto industry and want to join the cause of reducing the carbon footprint on the environment. Also, as electric vehicles are the future of the automotive industry, you’ll have the opportunity to work on potentially groundbreaking inventions.
Best EV Startups FAQ
Yes, you can work in an EV startup without a technical degree as long as you have the desire and interest to work in the automotive industry. However, if you would like to give yourself an advantage, you can learn to code.
To apply for work at an EV startup, you’ll need to go to the company’s specific career page, see if there are any vacant positions, and apply for the job you’re best suited for. Make sure that you meet the requirements for the position before applying for it.
According to Crunchbase, there are approximately 504 electrical vehicle startups in the world. They also have additional information on the most popular ones, their funding, as well as which major companies have invested in EV startups.
Norway has the highest number of electric vehicles, with a 64.5 percent share of new passenger electric vehicle registrations according to Statista. This is because Norway has implemented certain policy measures concerning electrical vehicles, such as tax and toll exemptions.
About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication.
