11 hot electric-vehicle startups that will revolutionize the car industry, according to VCs
Ernestine Fu was interviewed by Business Insider on what venture capitalists consider to be the most promising private companies in the electric vehicle industry. She mentioned ChargePoint, as well as Alsop Louie Partners’ investment in Ion Storage Systems.
Electric vehicles have not made much of a dent in the auto market yet, but a combination of tightening regulations, falling battery prices, and increased interest from consumers and fleet operators could help them take off in the coming decades. A new wave of startups is hoping the transition away from gas-powered vehicles will create opportunities in an automotive industry that’s typically been hostile to new entrants.
Business Insider asked eight venture capitalists to pick the two EV startups they believe have the most promise, with the caveat that only one could be a company their firm has invested in. Their selections, whose areas of focus run the gamut from consumer vehicles and vans to charging stations and 3-D printing, suggest a large-scale transformation is coming for the auto industry.
These are 11 startups that could lead the charge.
Picked by: New Enterprise Associates partner Aaron Jacobson (not an investor), Fontinalis Partners principal Dan Ratliff (not an investor), Autotech Ventures partner Jeff Peters (not an investor), Fraser McCombs Capital managing partner Mark Norman (not an investor)
Total funding raised: $6 billion
What the company does: Rivian is developing an electric pickup truck and SUV that will go on sale next year. The company also has an order from Amazon for 100,000 (Read more...)