Top 19 Electric Vehicle Unicorns in 2024

Updated:

January 22, 2024

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Unicorns

The Electric Vehicle industry is filled with successful companies that have raised millions of dollars in VC funding that came from some of the top investors in the world.

Many of these successes have turned into unicorns — private companies worth over $1 billion.

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If you want to build the next unicorn in the Electric Vehicle space, these 19 companies should be your inspiration.

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19 Electric Vehicle Unicorns Companies

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1,190 Unicorns

Information about their valuation, HQ's location, founded year, name of founders, funding amount and number of employees.

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1) Bolt

Bolt provides a seamless end-to-end transportation experience in cities through multimodal services, including ride-hailing, food delivery and car-sharing.

Details of the startup:

  • Valuation: $8.40B (May 2018)

  • Country: Estonia

  • City: Tallinn

  • Started in: 2013

  • Founders: Markus Villig, Martin Villig, Oliver Leisalu

  • Number of employees: 1,000-5,000

  • Funding: $1,970.53M

  • Funding rounds: 14

  • Number of investors: 33

You can find their website here.

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2) Ola Electric Mobility

Ola is a mobility platform and a ride-hailing company providing intercity transport for customers.

Details of the startup:

  • Valuation: $7.00B (July 2019)

  • Country: India

  • City: Bengaluru

  • Started in: 2019

  • Founders: Anand Shah, Ankit Jain, Bhavish Aggarwal

  • Number of employees: 1,000-5,000

  • Funding: $822.29M

  • Funding rounds: 9

  • Number of investors: 19

You can find their website here.

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3) SVOLT

SVOLT (Silicon Valley Organization of Lithium Technologies) is a Silicon Valley-based lithium battery technology company that offers electric vehicle (EV) materials, cells, modules, packs, systems and BMS to drive the EV revolution.

Details of the startup:

  • Valuation: $6.51B (June 2020)

  • Country: China

  • State: Jiangsu

  • City: Changzhou

  • Started in: 2018

  • Number of employees: 5,000-10,000

  • Funding: $300.00M

  • Funding rounds: 4

  • Number of investors: 25

You can find their website here.

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4) Hozon Auto

Hozon is an electric vehicle startup that uses technology to develop intelligent electric vehicle models.

Details of the startup:

  • Valuation: $3.95B (October 2021)

  • Country: China

  • State: Shanghai

  • City: Shanghai

  • Started in: 2014

  • Founders: Yunzhou Fang, Zhang Yong

  • Number of employees: 250-500

  • Funding: $300.00M

  • Funding rounds: 6

  • Number of investors: 10

You can find their website here.

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5) Redwood Materials

Redwood Materials is a battery recycling startup that makes electric vehicles and sustainable materials for circular supply chains.

Details of the startup:

  • Valuation: $3.70B (July 2021)

  • Country: United States

  • State: Nevada

  • City: Carson City

  • Started in: 2017

  • Founders: JB Straubel

  • Number of employees: 50-100

  • Funding: $792.00M

  • Funding rounds: 5

  • Number of investors: 13

You can find their website here.

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6) BYTON

BYTON is a global company that designs, develops, and markets smart connected electric vehicles.

Details of the startup:

  • Valuation: $2.50B (April 2018)

  • Country: China

  • State: Jiangsu

  • City: Nanjing

  • Started in: 2016

  • Founders: Carsten Breitfeld, Daniel Kirchert

  • Number of employees: 1,000-5,000

  • Funding: $330.93M

  • Funding rounds: 5

  • Number of investors: 9

You can find their website here.

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7) Star Charge

Star Charge focuses on developing and manufacturing the new energy vehicle charging equipment.

Details of the startup:

  • Valuation: $2.41B (May 2021)

  • Country: China

  • State: Jiangsu

  • City: Changzhou

  • Started in: 2014

  • Founders: Shao Danwei

  • Number of employees: 1,000-5,000

  • Funding: $125.58M

  • Funding rounds: 2

  • Number of investors: 6

You can find their website here.

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8) ROX Motor

ROX Motor is a car-building project that specialises in off-road new energy vehicles.

Details of the startup:

  • Valuation: $2.00B (April 2022)

  • Country: China

  • State: Shanghai

  • City: Shanghai

  • Started in: 2021

  • Founders: Feng Yan, Jing Chang

  • Number of employees: 251-500

  • Funding: $420.00M

  • Funding rounds: 4

  • Number of investors: 5

You can find their website here.

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9) Rimac Group

Rimac Group combines advanced hypercars and high-performance electrification technologies for OEMS.

Details of the startup:

  • Valuation: $2.00B (June 2022)

  • Country: Croatia

  • State: Zagrebacka

  • City: Sveta Nedelja

  • Started in: 2009

  • Founders: Mate Rimac

  • Number of employees: 1001-5000

  • Funding: $875.77M

  • Funding rounds: 9

  • Number of investors: 10

You can find their website here.

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10) Tier

TIER Mobility is a micro-mobility company that provides sustainable ride-sharing solutions to its customers.

Details of the startup:

  • Valuation: $2.00B (October 2021)

  • Country: Germany

  • City: Berlin

  • Started in: 2018

  • Founders: Julian Blessin, Lawrence Leuschner, Matthias Laug

  • Number of employees: 500-1,000

  • Funding: $667.38M

  • Funding rounds: 7

  • Number of investors: 19

You can find their website here.

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11) AIWAYS

AIWAYS is a smart car manufacturer based in Shanghai, China that creates beautiful electric vehicles that can be used in any situation.

Details of the startup:

  • Valuation: $1.78B (April 2018)

  • Country: China

  • State: Shanghai

  • City: Shanghai

  • Started in: 2017

  • Founders: Fu Qiang, Gu Feng

  • Number of employees: 1,000-5,000

  • Funding: $100.00M

  • Funding rounds: 7

  • Number of investors: 5

You can find their website here.

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12) StoreDot

StoreDot is a battery developer and materials innovation leader, developing ground-breaking battery technologies for electric vehicles.

Details of the startup:

  • Valuation: $1.50B (January 2022)

  • Country: Israel

  • City: Herzliya

  • Started in: 2012

  • Founders: Doron Myersdorf, Gil Rosenman, Simon Litsyn

  • Number of employees: 100-250

  • Funding: $206.00M

  • Funding rounds: 13

  • Number of investors: 14

You can find their website here.

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13) Einride

Einride is an electric and autonomous freight tech company that designs and develops technologies for transportation systems.

Details of the startup:

  • Valuation: $1.44B (December 2021)

  • Country: Sweden

  • City: Stockholm

  • Started in: 2016

  • Founders: Filip Lilja, Linnea Kornehed, Robert Falck

  • Number of employees: 100-250

  • Funding: $150.82M

  • Funding rounds: 7

  • Number of investors: 15

You can find their website here.

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14) Rad Power Bikes

The largest electric bike company in North America. Red Power Bikes is making transportation more environmentally friendly, enjoyable, and accessible to all.

Details of the startup:

  • Valuation: $1.40B (October 2021)

  • Country: United States

  • State: Washington

  • City: Seattle

  • Started in: 2007

  • Founders: Mike Radenbaugh, Tyler Collins

  • Number of employees: 501-1000

  • Funding: $329.32M

  • Funding rounds: 5

  • Number of investors: 8

You can find their website here.

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15) Motorway

Motorway is an online used-car marketplace for professional car dealers that sells their cars using their smartphones.

Details of the startup:

  • Valuation: $1.33B (November 2021)

  • Country: United Kingdom

  • State: England

  • City: London

  • Started in: 2017

  • Founders: Alex Buttle, Harry Jones, Tom Leathes

  • Number of employees: 100-250

  • Funding: $274.59M

  • Funding rounds: 5

  • Number of investors: 12

You can find their website here.

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16) TELD

Teld New Energy is a dedicated team of industry-leading experts who are passionate about finding and implementing the technology that powers electric vehicles.

Details of the startup:

  • Valuation: $1.12B (December 2019)

  • Country: China

  • State: Shandong

  • City: Qingdao

  • Started in: 2014

  • Founders: Yongguang Guo

  • Number of employees: 250-500

  • Funding: $435.98M

  • Funding rounds: 4

  • Number of investors: 8

You can find their website here.

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17) Ample

Ample solves the energy delivery challenge for electric vehicles by utilising autonomous robotics and smart-battery technology.

Details of the startup:

  • Valuation: $1.02B (November 2021)

  • Country: United States

  • State: California

  • City: San Francisco

  • Started in: 2014

  • Founders: John de Souza, Khaled Hassounah

  • Number of employees: 1-10

  • Funding: $275.73M

  • Funding rounds: 4

  • Number of investors: 15

You can find their website here.

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18) Leap Motor

Leapmotor is poised to become a leading brand in China’s burgeoning electric vehicle market.

Details of the startup:

  • Valuation: $1.01B (November 2018)

  • Country: China

  • State: Zhejiang

  • City: Hangzhou

  • Started in: 2015

  • Founders: Fu Liquan, Zhu Jiangming

  • Number of employees: 500-1,000

  • Funding: $1,761.19M

  • Funding rounds: 4

  • Number of investors: 12

You can find their website here.

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19) VOI

Voi is a micro-mobility startup that provides electric scooters for last-mile transportation.

Details of the startup:

  • Valuation: $1.00B (December 2021)

  • Country: Sweden

  • City: Stockholm

  • Started in: 2018

  • Founders: Adam Jafer, Douglas Stark, Filip Lindvall, Fredrik Hjelm, Johan Pietilä Holmner, Keith Richman

  • Number of employees: 500-1,000

  • Funding: $517.90M

  • Funding rounds: 10

  • Number of investors: 29

You can find their website here.