18 Automotive Startups and Their Chances of Survival
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1. Rivian: With substantial investments from Amazon and Ford, Rivian is developing electric trucks and SUVs. Their chances of survival are quite high.
2. NIO: As a Chinese electric vehicle manufacturer, NIO has already released two models and is publicly traded. Their chances of survival are relatively high.
3. Lucid Motors: Focused on luxury electric vehicles, Lucid Motors has secured funding from Saudi Arabia’s public investment fund. Their chances of survival are moderately high.
4. Lordstown Motors: This startup aims to produce electric pickup trucks, but has faced financial challenges. Their chances of survival are moderate.
5. Canoo: Specializing in subscription-based electric vehicles, Canoo has solid backing from Hyundai and Kia. Their chances of survival are moderately high.
6. Fisker Inc.: After the original Fisker failed, Henrik Fisker rebranded with new EV designs. However, they have faced several delays, putting their chances of survival at moderate.
7. Zoox: Focused on autonomous driving technology for fleets of electric vehicles, Zoox was recently acquired by Amazon. Their chances of survival are relatively high.
8. Aurora Innovation: Co-founded by former Tesla Autopilot lead Chris Urmson, this self-driving technology startup has strong backing from Amazon and Sequoia Capital. Their chances of survival are high.
9. Argo AI: With support from Volkswagen Group and Ford Motor Company, Argo AI is working on autonomous vehicle technology. They have a strong chance of survival.
10. TuSimple: This startup is developing autonomous driving technology for commercial trucks and already operates a prototype fleet in the US-China trade lane. Their chances of survival are moderately high.
11. Proterra: A manufacturer of electric buses with over 1,000 sold to transit agencies in North America, Proterra has a relatively strong chance of survival.
12. Nikola Motor Company: Despite a promising start, Nikola has faced fraud allegations, harming their reputation. Their chances of survival are moderate.
13. Faraday Future: Financial struggles and management crises have plagued this electric vehicle manufacturer, resulting in moderate chances of survival.
14. Byton: Chinese-backed EV maker Byton has suspended operations due to financial difficulties, putting its chances of survival at low.
15. APTERA Motors: An electric vehicle manufacturer producing innovative three-wheeled vehicles, APTERA Motors has a small but devoted following. Their chances of survival are moderate.
16. Arrival: Focused on electric vans and buses for commercial use, Arrival is backed by Hyundai but remains relatively unknown. Their chances of survival are moderate.
17. EVELOZCITY Inc.: Rebranded as Canoo (see number 5), the company now has a moderately high chance of survival with Hyundai’s support.
18. Sono Motors: This German solar-electric vehicle startup has raised over €50 million through crowdfunding and government funding but is still developing its first vehicle. Their chances of survival are moderate.