Elon Musk’s Tesla triggered the global EV revolution. These 5 green tech firms are taking the global electric vehicle innovation quotient up a notch.
The increased call to mitigate the impacts of climate change has pushed the world to rely more on renewable energy than fossil fuels. This has led to the growth and prosperity of the Electric Vehicle (EV) industry. Tesla is one of the leading brands, holding a 28% global market share as of the first half of 2020. EV innovation is not merely limited to Tesla. While there are many companies in the sector now, here are the 5 promising ones that are the most likely EV startups to become the next Tesla.
Nikola Motor Company
The Arizona based EV company was set up in 2014. Its prime focus is a pickup truck- marketed as Badger. Nikola’s semi-trucks are run on both electricity and hydrogen. It claims to cover 600 miles on a single recharge as the trucks run on a combination of electricity stored in batteries and electricity produced from compressed hydrogen. Nikola’s stock was listed on the Nasdaq exchange a few months back. It is currently cashing on its high-anticipated deal with General Motors for production on a large scale. Recently, Nikola’s share increased by 31% after it reaffirmed that it was on the production timeline. The Nikola-GM deal is likely to give a much-needed push to its brand to fill the void as Tesla’s Cybertruck has failed to garner attention on a large scale.
Watch: Everything you need to know about Nikola Badger
With GM deal, Nikola Motor Company is looking to fill the void as Tesla’s Cybertruck has failed to garner attention on a large scale.
The French electric car startup EasyMile is widely known for its battery-powered autonomous electric bus. The electric bus- EZ10 was developed with the help of CityMobil2, a project co-funded by the EU’s Seventh Framework Program. The autonomous electric bus can accommodate 10 people (6 seats + 4 standing passengers). It claims to be the next-generation solution for last-mile connectivity in today’s metropolitan cities. Recently, EasyMile has received approval from the city of Houston to develop an autonomous bus with Phoenix Motorcars. This will be the first FMVSS (Federal Motor Vehicle Safety Standards) compliant autonomous shuttle bus in the US.
Watch: EasyMile EZ10 Shared Autonomous Shuttle
EasyMile aims to become the next-generation solution for last-mile connectivity in today’s metropolitan cities.
Byton Ltd. is a leading EV startup based out of China. Though it has recently suspended operation, citing the pandemic’s impacts, it is likely to get $292 million funding from the Nanjing city government to get it back on its feet again. Byton is the brainchild of former BMW and Nissan Motors executives and was established in 2016. It was planning to launch a mid-sized electric SUV that will have a 48-inch horizontal screen on the whole dashboard and a touchscreen panel on the steering wheel that will stay still even when you steer. It also plans its cars to be controlled through hand gestures and voice commands.
Watch: Byton M-Byte Highlights
Byton, which envisions cars controlled by hand gestures, is the brainchild of former BMW and Nissan Motors executives.
Faraday Future is a Los-Angeles based startup with a valuation of over $2 billion. Its first electric vehicle, the FF 91, was able to attract much attention in the industry in 2017. The four-door luxury electric sedan was able to clock 60 mph in 2.39 seconds. It came with a super bigger 130-kilowatt battery. However, everything didn’t go as per expectation with the startup. It was recently completed a Chapter 11 restructuring plan. However, it is yet to go obsolete. It has all the potential to bounce back and give stiff competition to the market leaders. It has a fully operational R&D Center and Futurist Testing Labs in Silicon Valley, Beijing, Shanghai, and Chengdu.
Watch: Faraday Future | Internet of Vehicle | FF91
Despite a recent Chapter 11 restructuring, Faraday Future has 4 fully operational R&D Center and Futurist Testing Labs to help it bounce back.
Founded by Tesla’s ex-chief engineer, Peter Rawlinson, Lucid Motors has managed to mark its presence prominently in the EV industry. It was established in 2007, and its leading product – Air, is a luxury sedan. Air can clock 60 miles per hour in under 2.5 seconds and can go up to 400 miles with a single charge. Recently, Lucid Motors unveiled a fresh version of Air that has a range of whopping 517 miles with a single recharge. Lucid Motors claims that Air can stay longer on the road with a single charge than Tesla cars. The EV startup also claims to be producing the fastest EV in the industry. The current valuation of Lucid Motors goes as high as $1.1 billion.
Watch: Lucid Air Highlights
Lucid Motors claims that the Air is faster than Tesla cars and with better mileage.