The global electric vehicle market is home to 39 unicorn startups. These companies are building cars and the infrastructure that supports them.
China’s GAC Aion New Energy Automobile leads with a $14B valuation. Meanwhile, US-based Redwood Materials focuses on battery recycling and is valued at $6B.
Below is the full list of 39 Electric Vehicle unicorn startups at this time.
Top 10 Most Valuable Electric Vehicle Unicorns
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Get the Sheet for $50GAC Aion New Energy Automobile builds a range of all-electric vehicles for the consumer market. Their work also extends into providing complementary new energy products and services for vehicle owners.
Mahindra Electric Automobile develops a portfolio of all-electric passenger vehicles, with a focus on SUVs. Their “Born Electric” lineup showcases a new design philosophy and advanced vehicle technology for the Indian market.
Mahindra Electric Automobile designs and manufactures a new range of electric SUVs under its “Born Electric” vision. These vehicles are built upon the company’s proprietary INGLO platform, a modular architecture that forms the heart of their EV design.
Tata Passenger Electric Mobility operates as the dedicated electric vehicle division for Indian automotive manufacturer Tata Motors. They design and build a growing portfolio of electric cars, including the Nexon EV and Tiago EV, to accelerate EV adoption across India.
Redwood Materials builds a circular supply chain for lithium-ion batteries by collecting and recycling them at the end of their life. They then remanufacture these materials into critical anode and cathode components for the domestic electric vehicle and energy storage industries.
Zipline designs and operates a drone delivery service for instant logistics. They are best known for transporting critical medical supplies, including blood and vaccines, to health facilities worldwide.
Hozon develops and manufactures a range of intelligent electric vehicles. Their models focus on integrating modern technology to create a smarter and more connected driving experience.
Voyah designs and manufactures a line of electric vehicles, some equipped with autonomous driving capabilities. The Chinese automaker is expanding from its domestic market to compete globally, with an initial focus on Europe.
Zhiji Auto builds a line of premium, intelligent electric vehicles focused on high performance. Their cars stand out for their advanced autonomous driving capabilities and a sophisticated, connected in-car experience.
Sila develops and manufactures a silicon anode material to replace the graphite used in lithium-ion batteries. Their technology is designed to significantly boost battery energy density, giving electric vehicles longer range and faster charging speeds.
The Remaining 29 Electric Vehicle Unicorns
The ten most valued companies are only a piece of the larger picture. Founders across the globe are building the next wave of electric vehicle businesses, with strong clusters in the United States and China.
Some are building cars, while others are focused on batteries and charging infrastructure. Here’s a look at the other unicorn startups that are defining the industry.
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