{"id":1649,"date":"2023-02-23T17:32:53","date_gmt":"2023-02-23T17:32:53","guid":{"rendered":"https:\/\/tradersontrend.com\/?p=1649"},"modified":"2023-02-23T17:32:53","modified_gmt":"2023-02-23T17:32:53","slug":"check-these-promising-ev-startups-this-year","status":"publish","type":"post","link":"https:\/\/tradersontrend.com\/h\/2023\/02\/23\/check-these-promising-ev-startups-this-year\/","title":{"rendered":"Check These Promising EV Startups This Year!"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1649\" class=\"elementor elementor-1649\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3e60ed12 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3e60ed12\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-22f4108c\" data-id=\"22f4108c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4b746015 elementor-widget elementor-widget-text-editor\" data-id=\"4b746015\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 26-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>To capitalize on the industry&#8217;s tremendous growth potential, EV startups have sprung up in droves. <br \/><br \/>Identifying the top<a href=\"https:\/\/en.wikipedia.org\/wiki\/Electric_car\"> electric car<\/a> startups could result in multi-bagger profits for investors in the future. Consider Chinese EV companies like Nio, which have achieved a price return of more than 150% over the last three years. <br \/><br \/>Others may have similar potential, especially as the EV market is expected to rise by 17.1% to $691.5 billion by 2028.<\/p><p>That being said, here are three electric vehicle startups to watch this year.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">Motors Atlis<\/span><\/strong><\/p><p>Atlis Motors (<a href=\"https:\/\/www.google.com\/finance\/quote\/AMV:NASDAQ\">NASDAQ: AMV<\/a>) made headlines last month when its stock increased 200% in value during a trading session on January 11. <br \/><br \/>This EV startup&#8217;s shareholders were reminded of the company&#8217;s Nasdaq debut last year, when it climbed more than <a href=\"https:\/\/www.tipranks.com\/news\/altis-motor-vehicles-nasdaqamv-debuts-on-nasdaq-surges-five-times\">500% in after-hours trading<\/a>. <br \/><br \/>Last month, the EV truck and battery maker&#8217;s stock rose when it reported it had received two gigatonnes of preliminary orders. <br \/><br \/>Furthermore, the company revealed a 15-fold increase in daily battery output in late January since the start of mass production testing in November of last year.<\/p><p>Following its aggressive execution plan, the company has rapidly grown production in its Arizona facility to meet increased demand for its batteries. <br \/><br \/>According to Atlis CEO Mark Hanchett, the company has grown from producing 30 battery cells per week to producing hundreds of them on a weekly basis. <br \/><br \/>As a result, if it maintains its current growth rate, AMV stock could swiftly turn around.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">REE Automotive<\/span><\/strong><\/p><p>REE Automotive (<a href=\"https:\/\/www.google.com\/finance\/quote\/REE:NASDAQ\">NYSE: REE<\/a>), based in Israel, supplies bespoke EV platforms for a variety of vehicles, including cars, delivery vans, buses, and trucks. <br \/><br \/>What distinguishes its strategy is that instead of needing to create a full vehicle from scratch, companies can use <a href=\"https:\/\/ree.auto\/technology\/\">REE&#8217;s modular platform technology<\/a> and apply their own &#8220;skin&#8221; to it. <br \/><br \/>The problem with this EV startup is that most EV manufacturers do not need to outsource production. <br \/><br \/>Furthermore, emerging EV manufacturers are struggling for exposure in a crowded market, putting REE stock in jeopardy.<\/p><p>The stock is down more than 90% year to date, and the company estimates operating expenses to range between $100 million and $120 million for the year. <br \/><br \/>Furthermore, cash equivalents have fallen from $295 million when the company went public to about $80 million at the end of the year.<br \/><br \/><strong><span style=\"font-size: 24.5px; font-family: inherit;\">Canoo<\/span><\/strong><\/p><p>Canoo (<a href=\"https:\/\/www.google.com\/finance\/quote\/GOEV:NASDAQ\">NASDAQ: GOEV<\/a>) is another EV company that went public through a SPAC. It had made unrealistic revenue predictions for its subscription and engineering services. <br \/><br \/>But, it has yet to generate any major revenues, and its balance sheet remains in disarray, casting doubt on its capacity to survive this year. <br \/><br \/>Canoo&#8217;s current liabilities significantly outnumber its current assets. It has only $40.4 million in cash on hand, but current obligations are $183 million. <br \/><br \/>Furthermore, its negative free cash flows and zero dollars in sales don&#8217;t help matters.<\/p><p>In addition, a slew of <a href=\"https:\/\/fortune.com\/2023\/01\/23\/canoo-production-departures\/\">executives has left the company<\/a>, further undermining its bull case. <br \/><br \/>Indeed, Canoo&#8217;s prospects are bleak, putting it in an unreasonable position to raise capital for survival. <br \/><br \/>As a result, it should probably be considered bankrupt.<\/p><p><i>For More Stocks And Investment Related News, Click\u00a0<a href=\"https:\/\/tradersontrend.com\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/tradersontrend.com\/&amp;source=gmail&amp;ust=1677226099178000&amp;usg=AOvVaw3KKnpNG7PFbYbOcWkaAsHX\">Here<\/a>.<\/i><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>To capitalize on the industry&#8217;s tremendous growth potential, EV startups have sprung up in droves. Identifying the top electric car startups could result in multi-bagger profits for investors in the future. Consider Chinese EV companies like Nio, which have achieved a price return of more than 150% over the last three years. Others may have&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[33,234,282,496],"class_list":["post-1649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter","tag-amv","tag-ev-startups","tag-goev","tag-ree"],"_links":{"self":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/comments?post=1649"}],"version-history":[{"count":0,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media\/1650"}],"wp:attachment":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media?parent=1649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/categories?post=1649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/tags?post=1649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}