The Full List of 39 Electric Vehicle Unicorn Startups (2026)
The global electric vehicle market is home to 39 unicorn startups. These companies are building cars and the infrastructure that supports them.
China's GAC Aion New Energy Automobile leads with a $14B valuation. Meanwhile, US-based Redwood Materials focuses on battery recycling and is valued at $6B.
Below is the full list of 39 Electric Vehicle unicorn startups at this time.
Top 10 Most Valuable Electric Vehicle Unicorns
GAC Aion New Energy Automobile builds a range of all-electric vehicles for the consumer market. Their work also extends into providing complementary new energy products and services for vehicle owners.
| Valuation | $14B |
| Headquarters | Guangzhou, Guangdong, China |
| Year Founded | 2017 |
| Founders | — |
| Funding Amount | CN¥18.3B |
| Company Size | No Data |
| Last Funding Status | Series A |
| Top Investors | GoldStone Investment, Yingke Capital, Shenzhen Capital Group, China Southern Power Grid, Guangzhou Automobile Group |
Mahindra Electric Automobile develops a portfolio of all-electric passenger vehicles, with a focus on SUVs. Their "Born Electric" lineup showcases a new design philosophy and advanced vehicle technology for the Indian market.
| Valuation | $10B |
| Headquarters | Mumbai, Maharashtra, India |
| Year Founded | 1994 |
| Founders | — |
| Funding Amount | ₹31.3B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | British International Investment, Temasek Holdings |
Mahindra Electric Automobile designs and manufactures a new range of electric SUVs under its "Born Electric" vision. These vehicles are built upon the company's proprietary INGLO platform, a modular architecture that forms the heart of their EV design.
| Valuation | $9B |
| Headquarters | Mumbai, Maharashtra, India |
| Year Founded | 2022 |
| Founders | — |
| Funding Amount | ₹38.5B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Undisclosed |
| Top Investors | British International Investment, Mahindra & Mahindra |
Tata Passenger Electric Mobility operates as the dedicated electric vehicle division for Indian automotive manufacturer Tata Motors. They design and build a growing portfolio of electric cars, including the Nexon EV and Tiago EV, to accelerate EV adoption across India.
| Valuation | $9B |
| Headquarters | Andheri, Maharashtra, India |
| Year Founded | 2021 |
| Founders | — |
| Funding Amount | ₹75B |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Venture Round |
| Top Investors | TPG Rise Climate Fund |
Redwood Materials builds a circular supply chain for lithium-ion batteries by collecting and recycling them at the end of their life. They then remanufacture these materials into critical anode and cathode components for the domestic electric vehicle and energy storage industries.
| Valuation | $6B (Joined July 2021) |
| Headquarters | Carson City, Nevada, United States |
| Year Founded | 2017 |
| Founders | JB Straubel |
| Funding Amount | $4.2B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series E |
| Top Investors | Valor Equity Partners, Eclipse Ventures, Amazon, Franklin Templeton, Fidelity |
Zipline designs and operates a drone delivery service for instant logistics. They are best known for transporting critical medical supplies, including blood and vaccines, to health facilities worldwide.
| Valuation | $4.2B (Joined May 2019) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2011 |
| Founders | James Knight, Keenan Wyrobek, Keller Rinaudo Cliffton, Will Hetzler |
| Funding Amount | $821M |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series F |
| Top Investors | TPG, Techstars, Sequoia Capital, Andreessen Horowitz, Temasek Holdings |
Hozon develops and manufactures a range of intelligent electric vehicles. Their models focus on integrating modern technology to create a smarter and more connected driving experience.
| Valuation | $4B |
| Headquarters | Shanghai, Shanghai, China |
| Year Founded | 2014 |
| Founders | Fang Zhou |
| Funding Amount | CN¥26.4B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Venture Round |
| Top Investors | Shenzhen Capital Group, CITIC Securities, Dayone Capital, Contemporary Amperex Technology, Hongtai Capital Holdings |
Voyah designs and manufactures a line of electric vehicles, some equipped with autonomous driving capabilities. The Chinese automaker is expanding from its domestic market to compete globally, with an initial focus on Europe.
| Valuation | $4B |
| Headquarters | Wuhan, Hubei, China |
| Year Founded | 2019 |
| Founders | — |
| Funding Amount | CN¥5B |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Series A |
| Top Investors | BOCOM International, Industrial and Commercial Bank of China, Bank of China, Ganfeng Lithium, Sunwoda Electronic |
Zhiji Auto builds a line of premium, intelligent electric vehicles focused on high performance. Their cars stand out for their advanced autonomous driving capabilities and a sophisticated, connected in-car experience.
| Valuation | $4B |
| Headquarters | Shanghai, Shanghai, China |
| Year Founded | 2020 |
| Founders | — |
| Funding Amount | CN¥12.4B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series B |
| Top Investors | CITIC Securities, Contemporary Amperex Technology, SAIC Capital, Momenta, China Pacific Insurance |
Sila develops and manufactures a silicon anode material to replace the graphite used in lithium-ion batteries. Their technology is designed to significantly boost battery energy density, giving electric vehicles longer range and faster charging speeds.
| Valuation | $3.3B (Joined April 2019) |
| Headquarters | Alameda, California, United States |
| Year Founded | 2011 |
| Founders | Alex Jacobs, Gene Berdichevsky, Gleb Yushin, Mike Speiser |
| Funding Amount | $1.4B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series G |
| Top Investors | National Science Foundation, Coatue, 8VC, T. Rowe Price, Bessemer Venture Partners |
The Remaining 29 Electric Vehicle Unicorns
The ten most valued companies are only a piece of the larger picture. Founders across the globe are building the next wave of electric vehicle businesses, with strong clusters in the United States and China.
Some are building cars, while others are focused on batteries and charging infrastructure. Here’s a look at the other unicorn startups that are defining the industry.
| Unicorn Startup | Country | Year Founded | Amount Raised | Valuation |
|---|---|---|---|---|
 Group14 Technologies | United States | 2015 | $1.2B | $3B |
 Avatr | China | 2018 | $2.3B | $3B |
 BYTON | China | 2016 | $1.2B | $3B |
 Zhizi Automobile | China | 2022 | CN¥1.1B | $3B |
 ABB E-Mobility | Switzerland | 2010 | CHF525M | $3B |
 Star Charge | Singapore | 2014 | CN¥855M | $2.41B |
 Electrify America | United States | 2016 | $450.7M | $2B |
 Rad Power Bikes | United States | 2007 | $329.3M | $2B |
 Rimac Group | Croatia | 2009 | $875.8M | $2B |
 StoreDot | Israel | 2012 | $184.5M | $2B |
 AIWAYS | China | 2017 | CN¥5.2B | $2B |
 ROX Motor | China | 2021 | $1.4B | $2B |
 TIER Mobility | Germany | 2018 | $646.9M | $2B |
 Chunqing Technology | China | 2021 | $435M | $2B |
 Volocopter | Germany | 2011 | $544.4M | $2B |
 Bordrin Motors | China | 2016 | CN¥2.5B | $1.48B |
 Motorway | United Kingdom | 2017 | $276.1M | $1.33B |
 Ample | United States | 2014 | $326.9M | $1.02B |
 Wayve | United Kingdom | 2017 | $1.3B | $1B |
 Also | United States | 2025 | $305M | $1B |
 Einride | Sweden | 2016 | $752.3M | $1B |
 Terawatt Infrastructure | United States | 2018 | $1.2B | $1B |
 HT Aero | China | 2013 | $750M | $1B |
 Teld New Energy | China | 2014 | CN¥2.8B | $1B |
 Ninebot | China | 2012 | $247M | $1B |
 Qingju | China | 2018 | $2B | $1B |
 SKIO Matrix | China | 2009 | CN¥1.9B | $1B |
 Innovusion | United States | 2016 | $278M | $1B |
 Contemporary Amperex Intelligence Technology | China | 2021 | CN¥2B | $1B |
