In 2021, many investors started leaning heavily into electric vehicles (EVs). This change has allowed many startups to receive considerable funding. With money secured, these EV companies will likely see tremendous growth in the coming year. That is further supported by existing automakers looking in new directions.
There are many exciting EV startups to keep an eye on in 2022, including companies like Rivian and Lucid. However, they are not the only two to keep an eye on, with the push toward electric vehicles and alternative energy causing a surge in the market.
In particular, the US is pushing electric vehicles and technology, wanting to catch up to other countries like China and Europe. Therefore, it is a good idea to monitor EV startups, both because there are exciting vehicles on the horizon and plenty of investment opportunities. Read on to learn which startups are the most exciting.
Rivian is not a new company, having been around since 2009. However, they have recently started to pick up steam in the EV world, recently beginning to roll out their vehicles to customers. And the results are promising, with it looking like the company has a chance to shed its startup status in a few years.
The company currently has two vehicles to choose from, including an SUV and a pickup truck, known as the R1S and R1T, respectively. They are both fully electric and built quite well, capable of enduring rough conditions and a smooth ride on city streets equally well. They are not just great electric vehicles but great vehicles in general.
However, the past few years amidst the pandemic has caused the company to see some setbacks. Their ability to deliver vehicles promptly has taken a hit, and there have been some internal issues. Regardless, they are still one to watch in the coming year. Who knows, it might not even be long before they see a meteoric rise.
Few startups reach the level of success that Lucid Motors has seen. Of course, they have been on the outskirts of the game for some time, starting in 2007 with EV batteries and powertrains. But they saw success there as well, with their batteries being used in electric racing.
When it comes to their electric vehicles, Lucid focused on providing exceptional sustainability without sacrificing luxury. Their goal is to create vehicles that do not require you to sacrifice comforts when driving an electric vehicle. And considering the features in the Lucid Air, they are delivering on that promise:
- Max horsepower of 1,111
- EPA range of up to 520 miles on a full charge
- Goes from 0-60 in 2.5 seconds
- Stylish design and roomy interior
- All the bells and whistles you might expect
Their electric vehicle proves that you can have a luxury car powered by electricity. Of course, it costs more than a traditional car, but Lucid has plans for the future that involve more vehicles at different price points.
Founded in 2014 by William Li, NIO is a Chinese EV car manufacturer that is looking to expand globally. While they are not the only Chinese company looking to get into the electric vehicle market, NIO has done a good job of preparing for a leap onto the larger stage.
NIO already sells five models of electric vehicles to the public, with the company focusing on sedans and SUVs. They also have their EP9, which is one of the world’s fastest electric cars. While the EP9 is not available to the general public, it has shown that it can make some incredible electric vehicles. Its other EVs include:
- ET5 – Midsize Sedan
- ET7 – Flagship Sedan
- EC6 – Coupe SUV
- ES8 – Flagship SUV
- ES6 – All-Round SUV
The company has also started expanding into other countries, aside from China. Norway, one of the largest EV markets in the world, is the first country to see major movement from the company. In fact, Norway received over 24,000 ES8, ES6, and EC6 vehicles in 2021.
Sometimes things do not work out for startups, especially in the electric vehicle business. That is exactly what happened to Aptera back in 2011. They ran into trouble and ended up bringing everything to a halt. However, in 2019, they returned with the same dream: creating a unique, effective electric vehicle that runs on solar power.
Aptera has lofty ambitions, looking to provide a vehicle that can get around 1,000 miles between charges. It is a big goal, considering the distance most electric vehicles can travel on a single charge is far less. However, their unique design is meant to help bridge the gap. It is meant to be lightweight and aerodynamic to need power.
The company even plans to have solar panels built into the vehicle, providing upward of 40 miles of charge per day. The goal is to get closer to the desired 1,000 miles per charge and cover day-to-day usage entirely. Aptera is currently accepting investments and reservations for their vehicle, which is not currently being sold.
Another company that appeared in the past but only recently returned is Fisker Inc. The company originally appeared as Fisker Automotive, a pioneer of hybrid electric vehicles. They even found some success with their Fisker Karma before they ran into trouble and sold the vehicle design. However, in 2016, the CEO, Henrik Fisker, formed Fisker Inc.
The new iteration of the company has some bright plans for the future of their electric vehicles. It all starts with their upcoming model, the Fisker Ocean. The Fisker Ocean is an electric SUV that is designed to provide everything you need for a competitive price. It plans on having some great features, including:
- A solar-powered roof to provide around 1,500 miles per year
- Smart Traction that drastically improves the handling
- A design that uses sustainable materials
- Bells and whistles like improved sound and a spacious interior
Fisker has a solid plan, and they have spoken about potentially releasing their Fisker Ocean this year. With the first batch of vehicles on the horizon, Fisker is a company to monitor in the coming year.
Bollinger began like many other electric vehicle companies, looking to develop a unique car to push out to consumers. And they had a clear focus, creating a vehicle that favored minimalism and efficiency over aesthetics. But their early models, the B1 SUV and B2 pickup truck, have since been shelved by the company.
The postponed development of these vehicles was not made lightly by the company. However, they ultimately shifted their focus, not abandoning eclectic vehicles but focusing on the commercial market. They are now looking to make trucks for Classes 3 through 6, providing sturdy and innovative vehicles.
While the shift might be disappointing to some people who followed them from the start, the change in approach makes them stand out. They aim to make a real impact, and they plan to do it without sacrificing performance. They are quiet, powerful, and dependable commercial trucks that should soon find their way to the market.
Arrival is another electric vehicle manufacturer that is focused on commercial products. However, the company approaches things a bit differently. It aims to create lightweight, affordable electric vehicles that can compete with the prices of traditional vehicles. And they do not just plan to do this with a single type of vehicle, planning on making:
While Arrival’s vehicles are not out of the production phase quite yet, they have already started looking into multiple markets. They already have a presence in California, and they have started looking at India as well.
Additionally, Arrival has already partnered with some big names, with many groups showing interest in their affordable electric vehicles. Uber is one such name, with the cars being developed for the company, while UPS has already placed an order for delivery vans from Arrival.
Arrival is an exciting addition to the world of electric vehicles. They are not focused on luxury vehicles, and they have already connected with reliable partners. There is also a good chance that they will push out vehicles in 2022 or early 2023. The company’s approach could shake things up, making them one to watch.
Canoo started when a few people from another electric vehicle startup, Faraday Future, decided to branch out on their own. And they have already started to receive some attention thanks to their modular electric vehicle platform. The platform is versatile, allowing for the creation of a variety of vehicle designs, which already include a:
- Lifestyle Vehicle
- Multi-Purpose Delivery Vehicle
- Pickup Truck
The designs are interesting, with more angles and less sleekness than your ordinary vehicle. The design focuses on effectiveness and affordability. In fact, their lifestyle vehicle is marketed for its utility and versatility, with unique rear seating that can fit a large number of people with plenty of legroom. It even has panoramic views for visibility.
While the uniqueness of Canoo’s vehicles makes the company stand out, their functionality is also worth noting. The pickup they are designing promises ample storage and around 600 horsepower with decent torque. Moreover, it will not be long before they start production, with the company shooting for someone in 2023.
Speaking of Faraday Future, it is another electric vehicle startup that might see some progress this year. In fact, the company has revealed its intention to start selling vehicles toward the middle of this year. But this would not be the first time it has pushed back the expected date of production.
Faraday Future first made some noise in 2017 with their FF 91 exciting consumers. They promised exceptional features, including impressive acceleration. Then, they seemed to vanish, only popping up a few times before going public in 2021. Though, if you look on their website, you can get a taste of what is to come with the FF 91:
- Three electric motors
- Dynamic vehicle control
- A whopping 1050 horsepower
- The ability to go from 0-60 in 2.39 seconds
The vehicle even has a sleek look and the ability to run for over 300 miles on a single charge. The vehicle is quite impressive, to say the least. It is not the only car Faraday Future sees in its future, either. They also have ideas about a smaller and more affordable vehicle. Hopefully, they will hit the market in the near future.
When Fisker Automotive sold the design for the Fisker Karma, it was purchased by what is now Karma Automotive. Due to not getting the branding and trademarks, Karma was forced to change the name. However, the vehicle, currently known as the GS-6, shares much of the same design as the Fisker Karma.
What makes Karma an exciting company to watch for 2022 is the plan it has for the future of the company. And the future comes in the form of a fully electric vehicle known as the GSe-6. It is a vehicle that has a luxurious feel, including both the interior and exterior of the vehicle. The company also plans to include some interesting features:
- One-Pedal Driving
- L2 Autonomous Driving
- Surround-View Camera
- Full-Aluminum Body
- A Range of 300 Miles
While none of the features are revolutionary, it sounds like a solid electric vehicle. Moreover, their current vehicle has a solid track record that the company plans to extend to the fully electric version.
XPeng is another exciting Chinese company that is making some stellar electric vehicles. They currently have four models for sale in their home country, which include the P5, P7, G3i, and G9. However, in other markets, you are only likely to see the G3 and P7, though that might change in the future.
Their vehicles have been successful, too, especially in China, with their sales numbers growing every year. And it is not hard to see why, either. The company sells sleek vehicles with impressive features. For instance, the G3 is a smart SUV with an NEDC driving range of over 300 miles.
Their vehicles also come with features that include things like driver assistance, intelligent in-car systems, and fantastic acoustics. And the P7 promises even more when it comes to range and features. However, what really makes them a company to watch is the plan to expand its influence in Europe this year.
Mullen is not a well-known name, at least not yet. However, the company has some interesting vehicle ideas that it is trying to push to the market. While they are still a ways off, unlikely to see any real production for a few years, they are still one to watch. The main reason is that this is a crucial time for the company to find investors.
Mullen currently has three designs that show some serious promise. The first is an electric cargo van called the Mullen ONE, which will come in two classes. They are designed around cargo space and adaptability to suit client needs. The other vehicles include the dragonfly, a sleek sports car with a distinctive design, and the Mullen FIVE.
The FIVE first debuted in 2021, making it the newest of their vehicles. And it is quite the vehicle, with a range of over 300 miles, luxury interiors, and an advanced driver assistance system. If Mullen gets the funding it needs, it could have an exciting future in the world of electric vehicles.
Lordstown Motors is an interesting company, especially when placed next to all of the others on the list. But the reason is not entirely a good one. Lordstown has been through some ups and downs over the past few years, including selling its factory to Foxconn. The company’s instability and uncertain future make it a risky bet.
However, it is one to watch because of the vehicle it is developing: the Endurance commercial pickup. Trucks are not a new thing with electric vehicles, but the Endurance approaches things in an interesting way. For instance, it features four in-wheel hub motors that:
- Reduces the number of moving parts for reduced maintenance needs
- Increase a driver’s control over the vehicle
- Handle various types of terrain well
Additionally, while Lordstown was forced to sell its factory, Foxconn might be the one contracted to make the Endurance. Therefore, production on the pickup might not be as far off as it appears. It is likely that 2022 will be a deciding year for its future.
Another company developing a pickup suited for commercial use and heavy-duty workloads is Atlis. However, while their truck is certainly full of exciting features, the individual parts make Atlis stand out. The battery really stands out, having a square cell designed to charge in as little as 15 minutes with the right charging system.
The truck is also built using the company’s XP platform, which will be available to partners to electrify anything. But if you look beyond the unusual battery and versatile platform, what is left? A workhorse. The truck that Atlis is creating is meant for work, and it has the towing capacity and durability to handle anything thrown at it.
More importantly, Atlis hopes to begin production this year, making it an ideal company to keep an eye on. Even if you are not interested in the truck, the battery alone makes it one to watch.
The world of electric vehicles is uncertain, and startups fail more often than not, making it even shakier. However, there are some really exciting companies, and even if only a few last in the long run, it is worth paying attention. And with people craving electric vehicles more than ever, things could move quickly for any of these companies.