10 Best EV Startups to Follow in 2023

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 2023 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.

• Location: Oak Park, Michigan
• Funding: Undisclosed

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.

• Location: Mesa, Arizona
• Funding: $69.3 Million

Atlis is rising to the challenge for more green, sustainable cars. Their state-of-the-art battery technology allows their cars to charge in 15 minutes, even for their pickup truck and emergency vehicle models. Atlis’s business model revolves around its unique battery technology that’s designed to meet the needs of the automotive industry, not the other way around.

• Location: Torrance, California
• Funding: $550 Million

Another EV company that’s generating plenty of buzz is Canoo. Come 2023, their electric vehicle minivan will 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!

• Location: Los Angeles, California
• Funding: $1.5 Billion

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.

• Location: London, United Kingdom
• Funding: $629.4 Million

Arrival’s area of expertise isn’t in sedans, but green city vehicles like 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.

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• Location: Hanoi, Vietnam
• Funding: $135 Million

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 auto industry.

• Location: Plymouth, Michigan
• Funding: $10.7 Billion

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.

• Location: China
• Funding: $5.7 Billion

While Xpeng electric vehicles are only for sale in China, don’t be surprised if you start to see them being sold worldwide in the next year or two. Xpeng boasts a robust intelligent driving system, including features like driver assistance, hands-free technology systems, and more.

• Location: Croatia
• Funding: $875.8 Million

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. 

• Location: Carlsbad, California
• Funding: $100.9 Million

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. 

Recommended: Check out our full list of the top startups to watch.