14 Best EV Startups to Follow in 2024

Ev charger connected to vehicle.

Electric mobility is a fast-growing market due to an effort to move away from fossil fuels. High-performance electric vehicles (EVs) are sought after by consumers as well as businesses looking for an eco-friendly alternative to add to their supply chain.

The EV market, while primarily thought of as electric cars alone, also includes electric trucks and electric bikes as well as electric buses. We identified the most exciting, innovative, and top electric vehicle startups to watch in 2024 and beyond. From electric minivans to autonomous electric cars, these are the EV companies making waves this year. 

Top Electric Vehicle Startups to Watch

Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the best EV startups of 2024 that startup-lovers, investors, and aspiring entrepreneurs should follow. 

Disclaimer: With so many exciting electric vehicle startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.

1. Bollinger Motors

  • Location: Oak Park, Michigan
  • Founded In: 2015
  • Founders: Robert Bollinger
  • Funding: Grant, $3 Million
  • Investors Include: State of Michigan

Bollinger (acquired by Mullen Automotive) is just one of many EV startups looking to make the automotive industry green. While their ultimate product is an electric pickup truck that can tow commercial vehicle-sized weight, it’s their sedan design that garners the most attention. Its sleek, flashy, three-wheel design will be sure to enhance mobility and turn heads no matter where it goes.

2. Canoo

  • Location: Torrance, California
  • Founded In: 2017
  • Founders: Andrew Wolstan, Phillip Weicker, Richard Kim, Stefan Krause, Ulrich Kranz
  • Funding: Post-IPO Equity, $595 Million
  • Investors Include: Blackrock, Yorkville Advisors

Another electric car company that’s generating plenty of buzz is Canoo. By the end of 2023, the company expects its electric minivan to be widely available. The base of the car is designed like that of a skateboard, allowing for more cargo and passengers in the vehicle itself. Soccer parents everywhere, rejoice!

3. Fisker

  • Location: Los Angeles, California
  • Founded In: 2016
  • Founders: Geeta Gupta-Fisker, Henrik Fisker
  • Funding: $1.7 Billion
  • Investors Include: Blackrock, Moore Strategic Ventures, AllianceBernstein

The latest Fisker electric vehicle models made their debut at the 2021 LA Auto Show and caused quite the stir. The company’s use of recycled materials makes their cars one of the more sustainable options on the market, so be sure to keep an eye out for their CR-V-style model later this year.

4. Arrival

  • Location: London, United Kingdom
  • Founded In: 2015
  • Founders: Denis Sverdlov
  • Funding: Post-IPO Debt, $1 Billion
  • Investors Include: BlackRock, Westwood Capital, Antara Capital Master Fund 

Arrival’s area of expertise isn’t in electric cars for consumers but in green city vehicles like electric buses and cargo trucks. Not only are their cars solely electric, their suite of digital products makes it easy to keep fleets organized and running on time. Their powerful API integrations eliminate the need for a third party, making their business even more sustainable.

5. Vinfast

  • Location: Hanoi, Vietnam
  • Founded In: 2017
  • Founders: Pham Nhat Vuong
  • Funding: Debt Financing, $1.6 Billion
  • Investors Include: VINGroup, Asian Development Bank, Finnfund

Vinfast is Vietnam’s first “real” car company, and they’re now focusing exclusively on bringing electric vehicles to the country’s roads. Their SUVs are expertly designed to bring functionality and mobility to the forefront of the automotive sector.

6. Rivian

  • Location: Plymouth, Michigan
  • Founded In: 2009
  • Founders: Robert J. Scaringe
  • Funding: Post-IPO Debt, $13.5 Billion
  • Investors Include: Ford Motor, Third Point Ventures, D1 Capital Partners

Rivian is no stranger to the automobile market, and their cars speak for themselves. With all-electric SUV and pickup truck models to choose from, Rivian is hitting the road at an impressive 314 miles of range per battery pack.

7. Forest

  • Location: London, United Kingdom
  • Founded In: 2020 
  • Founders: Agustin Guilisasti, Caroline Seton, Michael John Stewart Ackermann
  • Funding: Series A, $28.2 Million
  • Investors Include: Triodos Bank NV, Fen Ventures 

Forest is a UK-based dockless electric bike company on a mission to reduce the amount of CO2 in the air through its innovative mobility solutions. Every battery pack used by Forest is charged with renewable energy, and their fleet of operational vehicles is made up entirely of EVs. 

8. Rimac Group

  • Location: Zagrebacka, Croatia
  • Founded In: 2009
  • Founders: Mate Rimac
  • Funding: Series D, $875.8 Million
  • Investors Include: SoftBank Vision Fund, Goldman Sachs, Porsche Ventures 

Many of the EV startups on this list host several electric vehicle models; however, Rimac boasts only one. Designed like a sports car, Rimac automobiles are designed to hit 60 mph in just under two seconds. Don’t let the design distract you, though — this car will cost you a pretty penny. 

9. Aptera

  • Location: Carlsbad, California
  • Founded In: 2006
  • Founders: Chris Anthony, Steve Fambro
  • Funding: Equity Crowdfunding, $100.9 Million
  • Investors Include: Meyer Global Management, Bay Wharf Capital, NRG Energy 

Speaking of eclectic design, Aptera’s cars are no exception. This three-wheeled vehicle is the world’s first solar-powered electric vehicle. The car doesn’t require charging for daily use, making it easy to take it for a spin anytime. 

10. Revel

  • Location: Brooklyn, New York 
  • Founded In: 2018
  • Founders: Frank Reig, Paul Suhey
  • Funding: Debt Financing, $207.6 Million
  • Investors Include: Blackrock, Knighthead Capital Management, Goodyear Ventures 

Revel is a tech company that is empowering the world to go electric. Through their entirely electric rideshare service with powerful superhubs for EV charging, Revel provides an eco-friendly alternative for city dwellers to get around town without the use of fossil fuels. 

11. MoEVing

  • Location: Haryana, India
  • Founded In: 2021
  • Founders: Mragank Jain, Vikash Mishra
  • Funding: $12.4 Million
  • Investors Include: Stride Ventures, JSW Ventures, N+1 Capital 

MoEVing is a last-mile electric vehicle startup. Their fleet of electric vehicles and data-centered platform are both built to empower drivers and provide valuable last-mile solutions for retailers, ecommerce, logistics, and more. Additionally, the startup works with companies to overcome obstacles to EV adoption, increasing the widespread usage of EVs. 

12. FreeWire

  • Location: Oakland, California 
  • Founded In: 2014
  • Founders: Arcady Sosinov, Jawann Swislow, Luv Kothari, Rich Steele, Sanat Kamal Bahl
  • Funding: $259.4 Million
  • Investors Include: Blackrock, Blue Bear Capital, BP Ventures 

FreeWire is a technology company developing EV charging infrastructure that works to mitigate power grid strain. With Freewire’s full-integration charging solutions, EV charging is better able to scale even in highly-populated areas, increasing the adoption of the EV industry in major cities. 

13. Regent

  • Location: North Kingstown, Rhode Island
  • Founded In: 2020
  • Founders: Billy Thalheimer, Michael Klinker
  • Funding: Series A, $87 Million 
  • Investors Include: Founders Fund, Big Sky Ventures, 8090 Industries 

While other electric vehicle startups are focused on ground transportation, Regent is developing electric seagliders that offer a more sustainable solution for coastal travel. Their zero-emission travel solution aids in passenger travel works with existing infrastructures, allowing the gliders to utilize docks. 

14. Ample

  • Location: San Francisco, California
  • Founded In: 2014
  • Founders: John de Souza, Khaled Hassounah
  • Funding: Grant, $290.7 Million 
  • Investors Include: Blackstone, Moore Strategic Ventures, Shell Ventures 

Ample leverages the power of robotics to conduct modular battery swapping and battery storage. With Ample, electric vehicle owners are able to receive a full battery charge in roughly five minutes, which is as inexpensive as gas and cheaper than a fast-charging battery station.  

Final Thoughts

With electric vehicles at the forefront of the climate change discussion, EV startups are taking action to create not only innovative electric cars but a litany of additional EV vehicles, from electric bikes to fleets of electric trucks.

Not to mention, tech companies are joining the EV market to introduce valuable charging and infrastructure solutions to increase the adoption of electric vehicles to consumers and businesses alike. As the EV industry grows, these exciting new EV companies will join the list of startups to watch.

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The TRUiC Team

TRUiC’s team of researchers, writers, and editors dedicate hours to ensure startupsavant.com’s articles are actionable and accessible for both startup founders and startup enthusiasts. From launching a startup to growing your venture, you can trust that our information is an up-to-date and reliable source.

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