Edmunds: The top five EV startups you need to know about
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Shopping for a new electric vehicle can seem a bit like the Wild West. While most people are familiar with Tesla and established automakers, they're less likely to know much about all-new companies looking to replicate the success of Tesla and take a share of the quickly growing market. Edmunds highlights five EV startups for shoppers willing to take the plunge.
Shopping for a new electric vehicle can seem a bit like the Wild West. While most people are familiar with Tesla and established automakers, they're less likely to know much about all-new companies looking to replicate the success of Tesla and take a share of the quickly growing market. From a consumer perspective, buying a vehicle from a startup company presents some advantages and possible drawbacks.
Because these companies aren't tied to traditional automaking, their vehicles often boast innovative features and standout designs. However, a shopper might hesitate to buy a vehicle from a brand with a limited track record of reliability. A lack of nationwide service support might be another issue. With that, Edmunds highlights five EV startups for shoppers willing to take the plunge.
This adventure-bound, U.S.-based EV startup was founded in 2009 by RJ Scaringe, the company's CEO. Rivian operated secretly for several years until 2018 when the electric R1T truck and R1S SUV were revealed at the Los Angeles Auto Show. Rivian started delivering the R1T to customers in the fall of 2021 and the R1S SUV last year. It also manufactures electric delivery vans for Amazon, one of its largest investors. Last year, the company delivered a little over 20,000 vehicles and plans to increase that to 50,000 this year.
The R1T was the first all-electric truck to hit the market, and the company followed that up with the R1S three-row electric SUV. Both models are highly rated by Edmunds because of their innovative storage space and robust performance.
Starting price: US$74,800 for R1T; $79,800 for R1S
Lucid was founded in 2007 under its former name Atieva. The company initially produced electric powertrains for other EV manufacturers. When it rebranded to Lucid Motors in 2016, this U.S.-based startup started to develop the Air, an electric luxury sedan. Deliveries started at the end of 2021. Lucid produced over 7,000 Air models in 2022 and plans to manufacture more than 10,000 by the end of the year.
The company sells five versions of the Air, with price tags mostly topping the six-figure mark. The Grand Touring model's 516-mile EPA-estimated driving range is the longest of any EV, and the top-spec 1,200-horsepower Sapphire model is one of the most powerful production vehicles in the world.
