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The Full List of 39 Electric Vehicle Unicorn Startups (2026)

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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

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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
HeadquartersGuangzhou, Guangdong, China
Year Founded2017
Founders
Funding AmountCN¥18.3B
Company SizeNo Data
Last Funding StatusSeries A
Top InvestorsGoldStone 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
HeadquartersMumbai, Maharashtra, India
Year Founded1994
Founders
Funding Amount₹31.3B
Company SizeEnterprise Organization (5,001+)
Last Funding StatusPrivate Equity
Top InvestorsBritish 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
HeadquartersMumbai, Maharashtra, India
Year Founded2022
Founders
Funding Amount₹38.5B
Company SizeLarge Team (251-1,000)
Last Funding StatusUndisclosed
Top InvestorsBritish 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
HeadquartersAndheri, Maharashtra, India
Year Founded2021
Founders
Funding Amount₹75B
Company SizeLean Team (11-50)
Last Funding StatusVenture Round
Top InvestorsTPG 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)
HeadquartersCarson City, Nevada, United States
Year Founded2017
FoundersJB Straubel
Funding Amount$4.2B
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusSeries E
Top InvestorsValor 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)
HeadquartersSan Francisco, California, United States
Year Founded2011
FoundersJames Knight, Keenan Wyrobek, Keller Rinaudo Cliffton, Will Hetzler
Funding Amount$821M
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusSeries F
Top InvestorsTPG, 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
HeadquartersShanghai, Shanghai, China
Year Founded2014
FoundersFang Zhou
Funding AmountCN¥26.4B
Company SizeEnterprise Organization (5,001+)
Last Funding StatusVenture Round
Top InvestorsShenzhen 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
HeadquartersWuhan, Hubei, China
Year Founded2019
Founders
Funding AmountCN¥5B
Company SizeLean Team (11-50)
Last Funding StatusSeries A
Top InvestorsBOCOM 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
HeadquartersShanghai, Shanghai, China
Year Founded2020
Founders
Funding AmountCN¥12.4B
Company SizeLarge Team (251-1,000)
Last Funding StatusSeries B
Top InvestorsCITIC 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)
HeadquartersAlameda, California, United States
Year Founded2011
FoundersAlex Jacobs, Gene Berdichevsky, Gleb Yushin, Mike Speiser
Funding Amount$1.4B
Company SizeLarge Team (251-1,000)
Last Funding StatusSeries G
Top InvestorsNational 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 StartupCountryYear FoundedAmount RaisedValuation
Group14 Technologies logo Group14 TechnologiesUnited States2015$1.2B$3B
Avatr logo AvatrChina2018$2.3B$3B
BYTON logo BYTONChina2016$1.2B$3B
Zhizi Automobile logo Zhizi AutomobileChina2022CN¥1.1B$3B
ABB E-Mobility logo ABB E-MobilitySwitzerland2010CHF525M$3B
Star Charge logo Star ChargeSingapore2014CN¥855M$2.41B
Electrify America logo Electrify AmericaUnited States2016$450.7M$2B
Rad Power Bikes logo Rad Power BikesUnited States2007$329.3M$2B
Rimac Group logo Rimac GroupCroatia2009$875.8M$2B
StoreDot logo StoreDotIsrael2012$184.5M$2B
AIWAYS logo AIWAYSChina2017CN¥5.2B$2B
ROX Motor logo ROX MotorChina2021$1.4B$2B
TIER Mobility logo TIER MobilityGermany2018$646.9M$2B
Chunqing Technology logo Chunqing TechnologyChina2021$435M$2B
Volocopter logo VolocopterGermany2011$544.4M$2B
Bordrin Motors logo Bordrin MotorsChina2016CN¥2.5B$1.48B
Motorway logo MotorwayUnited Kingdom2017$276.1M$1.33B
Ample logo AmpleUnited States2014$326.9M$1.02B
Wayve logo WayveUnited Kingdom2017$1.3B$1B
Also logo AlsoUnited States2025$305M$1B
Einride logo EinrideSweden2016$752.3M$1B
Terawatt Infrastructure logo Terawatt InfrastructureUnited States2018$1.2B$1B
HT Aero logo HT AeroChina2013$750M$1B
Teld New Energy logo Teld New EnergyChina2014CN¥2.8B$1B
Ninebot logo NinebotChina2012$247M$1B
Qingju logo QingjuChina2018$2B$1B
SKIO Matrix logo SKIO MatrixChina2009CN¥1.9B$1B
Innovusion logo InnovusionUnited States2016$278M$1B
Contemporary Amperex Intelligence Technology logo Contemporary Amperex Intelligence TechnologyChina2021CN¥2B$1B

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