- EV startups have benefited from the hype around the industry in the past two years.
- Some have or are preparing to release their first models.
- There have been plenty of growing pains.
- See more stories on Insider’s business page.
The past two years have been good to electric-vehicle startups. As Tesla’s sales and stock price have soared, the goodwill around the company has spread to just about any young competitor, no matter how far they are from delivering their first vehicle.
But now it’s time for the next generation of EV-makers to follow through on the hype. One, Rivian, has already started deliveries. Another, Lucid Motors, plans to do so soon. Both companies, though, and many of their peers, have faced growing pains.
Below, you can read more about why this generation of EV startups has excited investors and potential customers and how some have faltered, watching their founders resign amid controversy and attracting scrutiny from the US government.