A roundup of EV news
You’ve heard the buzz around Tesla’s Cybertruck and GMC’s redesigned, all-electric Hummer, and now you too are excited for a future where heavy-duty utility vehicles cease emitting heavy-duty amounts of CO2. This future is not far off; it’s actually right around the corner. Until then, check out some must-know updates (including two around electric trucks and SUVs) from the following electric vehicle (or EV) startups while you wait.
Back in July, EV startup Rivian raised $2.5 billion in a single funding round—the largest the startup had ever raised. With this round, Rivian has netted around $6 billion in overall funding, likely making it one of “the most well-capitalized EV startup[s] in the world,” per The Verge. Rivian plans to launch an all-electric pickup truck and SUV, along with electric delivery vans exclusively for Amazon, in early 2021; the startup’s massive capital will hopefully ensure successful launches across these offerings.
Bollinger Motors, a Michigan-based EV startup, has designed an electric 4-wheel-drive SUV and pickup truck from the ground up, creating a platform of electric trucks that boast never-before-seen utility features and are capable of exceptional off-road performance. Back in April, the startup revealed final product specs for its B2 chassis cab, or B2CC, which can support a 5,000-pound payload and goes on sale later next year.
Nio recently achieved a milestone that put it in the company of Tesla: the Chinese EV maker “surpassed General Motors in market value,” achieving a market cap of $56 billion (GM’s is $53 billion). Interestingly, the disparity in business size and production output between these two companies couldn’t be more different, which underscores just how bullish investors are on electric vehicle makers.