Corporate investors from outside the auto industry are placing increasing bets on electric vehicles, vying with automakers and suppliers to bankroll startup companies working on everything from advanced batteries to charging devices and all-new EVs.
Some 250 startups involved in some aspect of electrification have attracted more than $20 billion in venture capital, notably from a broad array of corporations across multiple industries, according to a Reuters analysis of publicly available data.
“Electrification will set off a number of economic changes in the traditional value chain in and around vehicles,” said Reilly Brennan, managing director of San Francisco-based Trucks Venture Capital. Read More
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