Investors like Amazon and BlackRock are betting these 10 EV startups have the best chance of becoming the next Tesla

• Tesla's soaring stock price has amplified the excitement around electric vehicles (EVs), leading to IPOs and fresh rounds of funding for startups that hope to replicate Tesla's success.
• But investors have been placing their bets on the next generation of EV startups for years, pouring, in some cases, billions of dollars into companies that say their vehicles will set new benchmarks in the auto industry.
• Below are the 10 electric-vehicle startups that have received the most money, according to Pitchbook.
• While Nio has raised more money than many of the startups on this list, it was excluded since it went public and started making vehicles in 2018.
• Visit Business Insider's homepage for more stories.

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10. Canoo

• Total capital raised: $1 billion
• Most recent valuation: N/A

 

9. Lucid Motors

• Total capital raised: $1.2 billion
• Most recent valuation: N/A since 2009

 

8. Singulato Motors

• Total capital raised: $1.2 billion
• Most recent valuation: N/A

 

7. Byton

• Total capital raised: $1.2 billion
• Most recent valuation: N/A

Byton announced a six-month pause of its operations in June.

6. Youxia Motors

• Total capital raised: $1.3 billion
• Most recent valuation: $1.9 billion

 

5. Li Auto

• Total capital raised: $2 billion
• Most recent valuation: $4.1 billion

 

4. Xpeng

• Total capital raised: $4.1 billion
• Most recent valuation: $4 billion

 

3. Faraday Future

• Total capital raised: $4.4 billion
• Most recent valuation: $4.4 billion

 

2. WM Motor

• Total capital raised: $5 billion
• Most recent valuation: N/A

 

1. Rivian

• Total capital raised: $6 billion
• Most recent valuation: N/A

• Read more:
• The CEO of Lucid Motors reveals the important lesson his former boss Elon Musk taught him about leadership
• The CEO of EV startup Rivian explains why he thinks it will beat Audi, Mercedes-Benz, and BMW with its first 2 electric vehicles
• Tesla, Nikola, Rivian, GM, and more are set for a battle over the huge new demand for electric trucks, buses, and vans
• Trump says he personally urged Elon Musk to build Tesla's new $1 billion factory in Texas

source https://www.businessinsider.com/the-next-tesla-electric-car-startups-that-raised-most-money-2020-7