Tracxn - Electric Vehicles Startup Landscape

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Electric Vehicles - Mar 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on March 20, 2018.
Electric Vehicles Feed Summary
4
Electric Vehicles > Feed Summary
Companies which help technology advancement in electric vehicle industry.
• Inclusions: Developers and manufacturers of electric vehicles
(passenger and commercial vehicles including cars, trucks, buses,
scooters, motorcycle, bicycles and personal transport equipment),
developers of charging infrastructure to support the electric vehicles
and technology developers focusing on improving the components
(Electric Drive Systems, Batteries etc) of electric vehicles. Also includes
companies providing electric vehicle sharing and rental solutions
resulting in increased adoption of electric vehicles. Sellers of EVs
through retail and marketplace model are also covered.
• Exclusions: Traditional automakers such as Toyota, Renault-Nissan,
General Motors, BMW, Mitsubishi, Ford, etc. which also develop electric
vehicles. Also excludes conglomerates like Panasonic, LG Chem and
Samsung which are leading battery manufacturers.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$10.6B
Funding
42
Mega
Companies
4722080
FundedCovered on
Tracxn
4
Unicorns
35
Soonicorns
69
Minicorns
37
IPO’d Cos
168
Late Stage Cos
51
11
Acquisitions
145
DeadPooled
61
Acquihired
Series A+ Cos
Faraday Future
(2014, Gardena, $1.6B)
ChargePoint
(2007, Campbell, $298M)
Tesla
(2003, Palo Alto, $454M)
Top Companies

$960M
$155M
$721M
$378M
$756M
$2.6B
2012 2013 2014 2015 2016 2017
$ Funding # Rounds
Investment Trend Summary
Summary of Funding Activity in Electric Vehicles
5
$1B - Series D
Faraday Future (2014, Gardena, $1.6B)
$140M - Series E
Proterra (2004, Greenville, $400M)
$550M - Series D
$100M - Series C
Segway (1999, Bedford, $202M)
$400M - PE
Microvast (2006, Stafford, $430M)
$100M - Series B
Joby Aviation (2009, Santa Cruz, $130M)
$300M - Series C
Gogoro (2011, Taipei, $480M)
$90M - Series B
Lilium (2015, Gilching, $101M)
$200M - Series A
Zoox (2013, Menlo Park, $290M)
$82M - Series G
ChargePoint (2007, Campbell, $298M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD
Electric Vehicles > Feed Summary > Investment Trend Summary
Seed High-Tech Grunderfonds (#3), Dorm Room Fund (#2), Innovestor
(#2)
Series A/B
Caisse de depot et placement du Quebec (#2), Intel Capital (#2),
Motus Ventures (#2)
Series C+
BMW i Ventures (#2), Constellation Technology Ventures (#2), 24
Haymarket (#1)
Incubators Climate KIC (#17) 500 Startups (#5) Y Combinator (#5)
Other Notable
Investors
UK Government (#7), Daimler(#6), California Energy Commission
(#5)
Debt Investors
Connecticut Innovations (#1), Enhanced Capital (#1), Hercules
Capital (#1)
Most Active InvestorsRecent Investments
152
180
218
251
228
83
2012 2013 2014 2015 2016 2017
Y-o-Y # of Companies Founded 49 54 75 84 96 91
$8B
$923M
$830M
$480M
$70.5M
US
Israel
Europe
Taiwan
Canada
$ Funding

Summary of exit outlook in Electric Vehicles
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
DFJ 2
Tesla (2003, Palo Alto, $454M)
AID Partners 1 Zoox (2013, Menlo Park, $290M)
CITIC Capital 1 GLM (2010, Kyoto, $21M)
Compass Technology
Partners
1 Tesla (2003, Palo Alto, $454M)
eng.ibk.co.kr 1 Signet Systems (1998, Daema-myeon)
Nov 2017 Visedo Oy Acq by Danfoss
Oct 2017 Brammo Acq by Cummins
Jul 2017 Sevcon Acq by BorgWarner for $200M
Jul 2017 GLM Acq by O Luxe Holdings for $115M
Oct 2015 Sakti3 Acq by Dyson for $90M
Sep 2015 A123 Systems Acq by Wanxiang America
Apr 2015 Segway Acq by Ninebot
Electric Vehicles > Feed Summary > Exit Outlook Summary
Shell Global 1 NewMotion (Oct 2017)
Wanxiang
America
1 A123 Systems (Sep 2015)
Danfoss 1 Visedo Oy (Nov 2017)
DEUTZ 1 Torqeedo (Sep 2017)
BorgWarner 1 Sevcon (Jul 2017, $200M)
Recent IPOs Top Acquisitions
Adomani Jun 2017
Conversion solution for school buses and…
IPO MCap: - Current MCap: $97.6M
DBT Dec 2015
Manufacturer of electrical equipment for…
IPO MCap: - Current MCap: -
Aleees Dec 2013
Lithium battery cathode materials and ele…
Eon Motors Nov 2013
Manufacturer of electric cars
Voltabox Oct 2017
Manufacturer of Li-ion based battery mana…
IPO MCap: - Current MCap: $449M
Arcimoto Sep 2017
Three-wheeled electric car
Signet Systems Aug 2017
EV charging stations
Electra Meccanica Jul 2017
Single passenger three-wheeled electric c…
IPO MCap: - Current MCap: $246M

Cumulative funding in the marketFunding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
For any Feedback and Query reach out to MyAnalyst@tracxn.com
AUTOMAKER $6.6B
March 2018Tracxn BlueBox – Electric Vehicles
2080+ companies in the sector, 276 funded in last 5 years, $4.1B invested in last 2 Years
Most Active Investors: Climate-KIC, Department of Energy (US), California Energy Commission, Daimler,
UK Government
CHARGING SOLUTIONS
Plug-in Charging
Envision Solar (2006, San Diego, $4.6M, IPO)
Wireless Charging
Evatran (2009, Wytheville, $16M)
Two-wheelers
Scooters
Vmoto (2002, Perth, IPO)
Motorcycles
Energica Motor Company (2010,
Modena, IPO))
Bicycles
Faraday Bicycles (2012, San
Francisco, $3.96M, Acq.)
Nontraditional
Personal Transport
Equipment
Segway (1999, Bedford, $202M, Acq.)
Aerial
Moller International (1983, Dixon,
IPO)
Marine
SeaBubbles (2015, Paris, $15M)
Commercial Vehicles
Trucks
Embark (2016, San Francisco, $15M)
Buses
Ankai (1997, Hefei, IPO)
Multi-category Vehicles
Polaris Industries (1954, Medina, IPO)
Cars
Tesla (2003, Palo Alto, $454.22M, IPO)
Charging Network
COMPONENTS
Batteries
Valence (1989, Austin, $1000K,
Acq.)
Motors
UQM Technologies (1967,
Longmont, IPO)
Electric Drive Systems
Bicycles
Fazua (2011, Munich, $3.2M)
VEHICLE-AS-A-SERVICE
Cars
Scooters
Scoot Networks (2011, San Francisco, $6.24M)
Bicycles
Urbee (2015, Amsterdam, $2.4M)
CONVERSION KITS
Bicycles
Superpedestrian (2012, Cambridge, $6.1M)
Commercial Vehicles
Hyliion (2015, Pittsburgh, $21M)
Self-drive
E-Car Club (2011, London, $1.43M, Acq.)
Chauffeur-driven
Move About (2007, Oslo, $2.6M)
Enablers
Charge Your Car (2010, Shoreham-by-sea, Acq.)
$1.4B $120M
$29M
$2.5B
Marine
Torqeedo (2005, Starnberg, $14.2M, Acq.)
Electric Vehicles > Feed Summary > BlueBox
7

Key Sub Sectors in Electric Vehicles Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Automaker >
Cars 157 $1.9B 16
Charging Solutions >
Plug-in Charging 174 $255M 21
Components >
Batteries 93 $528M 11
Components >
Electric Drive Systems 108 $154M 15
Automaker > Two-wheelers >
Motorcycles 68 $76.4M 17
Automaker > Two-wheelers >
Scooters 93 $348M 8
Automaker > Nontraditional >
Aerial 24 $236M 10
Vehicle-as-a-service >
Scooters 24 $70M 6
Charging Solutions >
Charging Network 108 $29.5M 6
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Automaker
Companies which develop and manufacture electric
vehicles including cars, two-wheelers,...
1125 196 $6.6B
Components
Companies focused on developing components for the
electric vehicles and working towards...
274 112 $2.5B
Charging Solutions
Companies focused on developing charging
infrastructure such as charging stations and...
406 95 $1.4B
Vehicle-as-a-service
Companies offering electric vehicle sharing and rental
services resulting in increased...
151 39 $120M
Conversion Kits
Companies developing systems to convert gasoline
vehicles to hybrid vehicles
53 20 $29M
Vehicle Management
Companies developing vehicle management solutions
such as energy management systems for...
31 9 $4.3M
Retail
Companies focused on selling electric vehicles and
components
40 1 -
Electric Vehicles > Feed Summary > Summary of Key Markets

List of Notable Companies in Electric Vehicles
Notable Companies in the Sector (1/2)
9
Note: *(Founded Year, Location, Total Funding)
Electric Vehicles > Feed Summary > Notable Companies in the Sector
Public
Voltabox
(1835, Delbruck)*
New Flyer Industries
(1930, Winnipeg)
PNE Solution
(2004, Suwon-si)
Vmoto
(2002, Perth)
GreenPower Motor
Company
(2010, Vancouver)
Tesla
(2003, Palo Alto, $454M)
Zap
(1994, Santa Rosa, $25M)
Envision Solar
(2006, San Diego, $4.6M)
Arcimoto
(2007, Eugene, $2.9M)
Valence
(1989, Austin, $1M)
Public
Adomani
(2011, Orange County, $300k)
Electra Meccanica
(2015, Vancouver, $113k)
Blink Charging
(San Jose)
Leo Motors
(2007, Seoul)
Moller International
(1983, Dixon)
Northvolt
(2015, Stockholm)
Workhorse Group
(2007, Cincinnati)
DBT
(1990, Brebieres)
J-Tek
(2002, Hsinchu)
Aleees
(2005, Taoyuan City)
Public
Balqon
(2005, Los Angeles)
Clean Motion
(2010, Lerum)
Electric Tractor
(2010, Niagara-on-the-lake)
Electrovaya
(1997, Mississauga)
Energica Motor
Company
(2010, Modena)
Eon Motors
(2009, Malijai)
Hybricon Bus System
(2013, Holmsund)
JNS Holdings
(1983, Wheeling)
Kodi-S
(1999, Yongin)
Pihsiang Machinery
(1983, Hsinchu)
Public
Polaris Industries
(1954, Medina)
Schnapp Batteries
(1951, Netanya)
Signet Systems
(1998, Daema-myeon)
T3 Motion
(2006, Costa Mesa)
Thunder Power
(1987, Taipei)
Torotrak
(1997, Leyland)
UQM Technologies
(1967, Longmont)
Acquired
Sevcon
(1961, Gateshead)
GLM
(2010, Kyoto, $21M)

List of Notable Companies in Electric Vehicles
Notable Companies in the Sector (2/2)
10
Electric Vehicles > Feed Summary > Notable Companies in the Sector
Unicorns
Boston Power
(2005, Westborough, $638M)
Zoox
(2013, Menlo Park, $290M)
Segway
(1999, Bedford, $202M)

List of Notable Companies by Market in Electric Vehicles
Notable Companies by Market (1/8)
12
Electric Vehicles > Feed Summary > Notable Companies by Market
Automaker
Multi-category Vehicles
Zap (1994, Santa Rosa, $25M)
Creator of Advanced Technology Vehicles
Stage: Public
Cathaya Capital
Polaris Industries (1954, Medina)
Automotive manufacturing company
Stage: Public
Cars
Developer of electric supercar
Soonicorn. Stage: Series D
INNOVATUS CAPITAL PARTNERS, LeEco
Developer of electric cars
Unicorn. Stage: Public
Tencent, Deutsche Bank, California Energy
Commission and 27 Other Investors
Autonomous mobility company developing fully
autonomous electric vehicle
Unicorn. Stage: Series A
AID Partners, Lux Capital, DFJ and 4 Other
Investors
Lucid Motors (2007, Menlo Park, $131M)
Developer of electric car
Soonicorn. Stage: Series C
Beijing Automotive Group Co, Tsing Capital,
Venrock and 2 Other Investors
Cars
GLM (2010, Kyoto, $21M)
Developer of electric car and drivetrain systems
Soonicorn. Stage: Acquired
Riyadh Valley Company, University of Tokyo Edge
Capital, Mitsubishi UFJ Capital and 5 Other
Investors
Arcimoto (2007, Eugene, $2.9M)
Stage: Public
Electra Meccanica (2015, Vancouver, $113k)
Single passenger three-wheeled electric car
Minicorn. Stage: Public
Eon Motors (2009, Malijai)
Stage: Public
EDF Energies Nouvelles
Thunder Power (1987, Taipei)
Electric car manufacturer
Stage: Public

13
Automaker
Commercial Vehicles
Electric bus manufacturer
Soonicorn. Stage: Series F
BMW i Ventures, Generation Investment
Management, Tao Capital Partners and 19 Other
Investors
Navya Technology (2014, Paris, $38.5M)
Autonomous electric shuttle for mobility
Soonicorn. Stage: Series B
Keolis, Valeo, CapDecisif Management and 5 Other
Investors
Aleees (2005, Taoyuan City)
Lithium battery cathode materials and electric
buses
Stage: Public
Swanlaab, GRC SinoGreen, Giza Venture Capital and
2 Other Investors
Clean Motion (2010, Lerum)
Three-wheeled electric vehicle for personal short
distance commute
Stage: Public
Commercial Vehicles
Electric Tractor (2010, Niagara-on-the-lake)
Electric tractors for agriculture applications
Stage: Public
GreenPower Motor Company (2010,
Vancouver)
Electric commercial vehicles
Stage: Public
Hybricon Bus System (2013, Holmsund)
Electric buses and electric vehicle charging systems
Stage: Public
New Flyer Industries (1930, Winnipeg)
Manufacturer of heavy-duty transit buses
Stage: Public
KPS Capital Partners, Harvest Partners
Two-wheelers
Electric scooter developer and battery swapping
infrastructure provider
Temasek, Generation Investment Management,
Sumitomo Corporation and 4 Other Investors
Zero Motorcycles (2006, Scotts Valley, $148M)
Electric motorcycle technology
California Energy Commission, Invus Group,
Monterey Bay Air Resources District
Alta Motors (2010, San Francisco, $65.3M)
Electric motorcycles
Harley Davidson, Grassy Creek, Mountain Nazca
and 7 Other Investors

14
Automaker
Two-wheelers
Ather Energy (2013, Bangalore, $46.1M)
Smart electric scooters for India
Hero MotoCorp, Tiger Global Management, Sachin
Bansal and 6 Other Investors
Torrot Electric (2011, Barcelona)
Electric two-wheelers for on and off-road
applications
Soonicorn. Stage: Funded
Black Toro Capital
Energica Motor Company (2010, Modena)
All-electric motorcycle manufacturer
Stage: Public
Vmoto (2002, Perth)
Two-wheeler electric vehicles manufacturer
Stage: Public
Nontraditional
Designs and manufactures personal transportation
robots
Unicorn. Stage: Acquired
SDIC, Intel, GIC and 7 Other Investors
Electric aircraft with vertical take-off and landing
Intel Capital, EDBI, JetBlue Technology Ventures
Zee.Aero (2010, Mountain View, $100M)
Electric flying car
Whill (2012, San Francisco, $30.5M)
Electric wheelchair for elderly and differently-
abled
Eight Roads Ventures, Consumer Tech Assocn,
Innovation Network Corporation of Japan and 7
Other Investors
Nontraditional
Moller International (1983, Dixon)
Vertical take-off and landing (VTOL) vehicles
Stage: Public
Pihsiang Machinery (1983, Hsinchu)
Electric vehicles for diffrently abled and elderly
Stage: Public
T3 Motion (2006, Costa Mesa)
Personal transportation provider for Police and
Security
Stage: Public

15
Charging Solutions
Charging Network
Volta Charging (2010, San Francisco, $23.9M)
Electric vehicle charging network developer
Three Bridges Venture Partners, Riverwood Capital,
500 Startups and 7 Other Investors
NewMotion (2009, Amsterdam, $18M)
Smart charging solutions for electric vehicles
Entrepreneurs Fund
InstaVolt (2016, Basingstoke, $14.8M)
Rapid EV charging infrastructure
Soonicorn. Stage: Series A
Zouk Capital
Blink Charging (San Jose)
Electric vehicle charging sevices
Stage: Public
Eventide Funds, Pennsylvania Energy Development
Authority
Charging Network
JNS Holdings (1983, Wheeling)
Operator and Installer of EV Charging stations
Stage: Public
Plug-in Charging
EV charging points and charging network operator
Soonicorn. Stage: Series G
Linse Capital, Rho Capital Partners, BMW i Ventures
SemaConnect (2008, Bowie, $27M)
Electric Vehicle Solutions for Commercial
Properties
PEAR TREE PARTNERSHIP LTD, TEDCO
Delta-Q Technologies (1999, Burnaby, $17M)
Battery charging solutions
Tandem Expansion Fund
AddEnergie (2009, Quebec City, $13M)
Caisse de depot et placement du Quebec,
Investissement Quebec, Natural Resources

16
Charging Solutions
Plug-in Charging
Green Motion (2009, Lausanne, $12.5M)
Developer of electric vehicle charging stations
Zhongding Group, Catalyst Venture Partners
Chargemaster (2008, Luton, $11.6M)
Electric vehicle charging infrastructure
Beringea, BMW i Ventures, Envestors and 3 Other
Investors
Envision Solar (2006, San Diego, $4.6M)
Offers solar trees for parking lots and solar EV
charging solutions
Stage: Public
Silicon Valley Bank
DBT (1990, Brebieres)
Manufacturer of electrical equipment for energy
and auto industry
Stage: Public
Plug-in Charging
PNE Solution (2004, Suwon-si)
Electric vehicle charging solutions and energy
storage systems
Stage: Public
Signet Systems (1998, Daema-myeon)
Stage: Public
Kolon Investments
Components
Protean Electric (2009, Troy, $154M)
Electric drive system developer
Oak Investment Partners, Zhejiang VIE Science &
Technology, Tianjin THSG Corporation and 1 Other
Investors
VIA Motors (2010, Orem, $53M)
Electric drive system for commercial vehicles
XL Hybrids (2008, Boston, $50.2M)
Powertrain for hybrid vehicles
IKEA, Constellation Technology Ventures,
Department of Energy and 4 Other Investors
Efficient Drivetrains (2006, Palo Alto, $27.1M)
Hybrid drivetrain manufacturer
H&Q Asia Pacific, Oceanic Partners

17
Components
Visedo Oy (2009, Lappeenranta, $24.4M)
Electric drivetrains for heavy duty vehicles
European Investment Bank, Emerald Technology
Ventures, Finnish Industry Investment and 8 Other
Investors
Paice (1992, Baltimore, $18M)
Developer of hybrid powertrain technology
Wrightspeed (2005, San Jose, $18M)
Powertrains for Electric Vehicles
California Energy Commission, Firsthand
Technology Value Fund, EdgeWater Investments
ALTe Technologies (2008, Auburn Hills, $17M)
Developer of powertrains for HEV and EV
Torqeedo (2005, Starnberg, $14.2M)
Developer of electric motors and batteries for boats
Robert Bosch Venture Capital, WHEB, BayBG and 1
Other Investors
Workhorse Group (2007, Cincinnati)
Electric powertrains and commercial vehicles;
drone-based deliveries
Stage: Public
Kodiak Capital, GVW Group
Balqon (2005, Los Angeles)
Lithium based energy storage systems and heavy
duty electric vehicle drivetrains
Stage: Public
Torotrak (1997, Leyland)
Automotive transmission products based on
toroidal variator technology
Stage: Public
Batteries
Boston Power (2005, Westborough, $638M)
Lithium-ion battery provider
Unicorn. Stage: Series F
GSR Ventures, Foundations Asset Management, Oak
Investment Partners and 6 Other Investors
Fast-charging battery systems
CITIC Securities International, CDH Investments,
National Venture Capital Association and 2 Other
Investors
StoreDot (2012, Herzliya, $126M)
Fast charging bio-organic batteries
Daimler, Samsung Venture Investment, GlenRock
Israel and 6 Other Investors
Phinergy (2008, Lod, $50M)
Metal-air battery technology for EVs
Alcoa

18
Components
Batteries
Valence (1989, Austin, $1M)
Develops lithium batteries
Stage: Public
Leo Motors (2007, Seoul)
Cartridge batteries for electric vehicles
Stage: Public
Northvolt (2015, Stockholm)
Lithium-Ion battery developers for Electric Vehicles
Stage: Public
European Investment Bank, InnoEnergy, Vattenfall
Voltabox (1835, Delbruck)
Manufacturer of Li-ion based battery management
system for electric vehicles
Stage: Public
Electrovaya (1997, Mississauga)
Manufactures Li-Ion polymer batteries
Stage: Public
BEST Funds
Batteries
Kodi-S (1999, Yongin)
Battery and charger manufacturers
Stage: Public
Korea Investment Partners
Schnapp Batteries (1951, Netanya)
Lead-acid batteries manufacturer
Stage: Public
SKY Fund
Motors
YASA Motors (2009, Oxford, $49.3M)
Electric motors manufacturer
Universal Partners, Parkwalk, 24 Haymarket and 1
Other Investors
UQM Technologies (1967, Longmont)
Manufacturer of motors, generators and power
electronic controllers for transportation industry
Stage: Public
Sinotruk Hong Kong Ltd, Department of Energy,
CrossTechnology Venture Partners

19
Components
Power Electronics
Sevcon (1961, Gateshead)
Developer of power electronics for electric vehicles
Stage: Acquired
Conversion Kits
Commercial Vehicles
Adomani (2011, Orange County, $300k)
Conversion solution for school buses and
commercial vehicles
Stage: Public
UPC Capital Ventures
Vehicle Management
Battery Management Systems
J-Tek (2002, Hsinchu)
Developer of battery management systems
Stage: Public

List of Notable Companies in Electric Vehicles in China
Notable Companies in the Sector in China
20
Electric Vehicles > Feed Summary > Notable Companies in the Sector in China
Public
BYD
(1995, Shenzhen, $680M)
ChaoWei Power
(2002, Huzhou)
Ankai
(1997, Hefei)
China Dynamics
(1996, Hong Kong)
FDG Electric Vehicles
(1990, Hong Kong)
Titans
(1992, Zhuhai)
Topband
(1996, Shenzhen)
Kandi Technologies
(2005, Jinhua)
Acquired
YinLong
(2004, Zhuhai)
Unicorns
NIO
(2014, Shanghai, $2.1B)
Beijing Electric Vehicle
(2009, Beijing, $2.1B)
WM Motor
(2015, Shanghai, $1.8B)
LeSEE
(2015, Beijing, $1.1B)
Soonicorns
Xiaopeng
(2015, Guangzhou, $714M)
Singulato Motors
(2014, Beijing, $602M)
CHJ Automotive
(2015, Beijing, $286M)
Ninebot
(2012, Beijing, $180M)
Skio (Shi Kong)
(2013, Hangzhou, $159M)
Niu
(2014, Beijing, $50M)

Recent News in Electric Vehicles Sector
Recent News
21
Electric Vehicles > Feed Summary > Recent News
Mar 2018 Xpeng Motors gains license plates in Guangzhou, Gasgoo.com
Mar 2018
Hyliion Offers Own Trucks to Customers Wanting to Test Hybrid
Electric Axle, ttnews.com
Mar 2018
Tesla’s massive virtual power plant with Powerwalls in Australia at
risk under new government, Electrek
Mar 2018
Skeleton Tech CEO: Bankability of ultracapacitors could be key to
lithium-ion hybrid potential, Energy Storage News
Mar 2018
Tesla shares to drop more than 30 percent in the next 6 months on
weak Model 3 deliveries, CNBC
Mar 2018
Indian-born British billionaire plans to break Tesla’s record for
world’s biggest battery, TechRadar
Mar 2018
DART expands low-emission transit in Dallas with up to 82 CNG
buses from New Flyer, CNW
Mar 2018
Tesla will be working with its first pilot customers to build electric
charging centers, Gulf Tomorrow
Mar 2018
Tesla Model 3 Heated Rear Seats Now Activated Via OTA Update,
Inside EVs
Mar 2018 Nova Bus Names Ray Little Vice President of Sales, PR Newswire
Mar 2018
Flixbus tests E-Buses with long-distance routes in France and
Germany, ITS International
Mar 2018
Faraday Future’s Former Executives to Start Electric Car Production
in China to Rival Jia Yueting’s Plans, Yicai Global
Mar 2018
Kandi Technologies Reports Full Year 2017 Financial Results,
EconoTimes
Key Recent News Key Recent News
Mar 2018
Tesla’s newest production vehicle showcased at its showrooms this
week in Boston, Miami and New York, Gulf Tomorrow
Mar 2018
Pole Star expands into APAC with Intechnology Distribution deal,
Reseller
Mar 2018 Tesla Model S P100D Launches In South Korea, Inside EVs
Mar 2018 German e-bike drive makers Fazua raises €6.5 million, Tech.eu
Mar 2018
Tesla’s latest Autopilot update brings some significant
improvements to Autosteer and more, Electrek
Mar 2018
UQM Technologies Receives Follow-on $1.3 Million Fuel Cell
Compressor System Order for China Market, Business Wire
Mar 2018
Attentions focussed on reports of Tesla's manufacturing problems,
Proactive Investors
Mar 2018 Tesla Model S, Model X Production Efficiency Improved, News18
Mar 2018 Tesla Energy deploys another Powerpack project in the UK, Electrek
Mar 2018 Electric truck will exceed expectations: Musk , Today's Trucking
Mar 2018
Gnewt Cargo powers up London's largest electric vehicle charging
site, Incisive Business Media
Mar 2018
GreenPower delivers first 2 all-electric buses to Calif. city, Metro
Magazine
Mar 2018 La.'s CATS to add 3 BYD battery-electric buses , Metro Magazine
Mar 2018
Another DOE National Laboratory Selects Envision Solar EV ARC™
Solar Charging Stations for its Fleet EVs, Marketwired

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
22
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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$1.1B
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$960M
$155M
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$756M
$2.6B
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$ Funding # Rounds
3 Year CAGR
6 Year CAGR
Investments ($M) and number of rounds in Electric Vehicles; 2011-2017
Global Funding Trends (1/2)
24
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Electric Vehicles > Investment Trends > Global Funding Trends
#Rounds
$Funding
6% $ Funding
70% $ Funding
11% # of Rounds
21% # of Rounds

10 12 20 29 30 37 41 34
29 26
18
20 34 39 45
44
11 12 11 5 11 8 10 13
2010 2011 2012 2013 2014 2015 2016 2017
Seed Early Stage Late Stage
50
91
Total # of Rounds
$7M $6M $8M
$15M
$13M $22M $32M $63M
$710M
$452M
$221M
$73M $235M
$266M
$632M
$350M
$375M $728M $731M $67M $474M $90M $92M $2.2B
2010 2011 2012 2013 2014 2015 2016 2017
Seed Early Stage Late Stage
$905M
$1.1B
$843M
$62M
$540M
$180M
$492M
$2.4B
0
2
4
6
8
10
12
14
16
18
0
500000000
1E+09
1.5E+09
2E+09
2.5E+09
3E+09
2010 2011 2012 2013 2014 2015 2016 2017
$ Funding # of Rounds
25
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded ClubMega Rounds
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Electric Vehicles; 2011-2017
Electric Vehicles > Investment Trends > Global Funding Trends
16
23
25
33
36
46
41 220
$4.4M
$6.5M
$0.0M
$5.0M
$10.0M
$15.0M
$20.0M
$25.0M
$30.0M
0
50
100
150
200
250
2001-2011 2012 2013 2014 2015 2016 2017 Total
Entrants in Funding Club Avg. Ticket Size
9 14 10 2 6 3 7 16 $4.4M $5.3M $0.9M $2.9M $0.9M $3.4M $28.1M $6.5M
$1.1B
$2.6B
Total $ Invested

Electric Vehicles > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Electric Vehicles
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 1.8B 141
Gardena 1.6B 2
Irvine 1.2B 9
Westborough 888M 15
Rosh Haayin 747M 8
Taipei 480M 3
Stafford 430M 2
Greenville 400M 8
Los Angeles 292M 11
Bedford 202M 6
Total Funding
383
15
181
3
21
24
4
6
# Rounds
$8B
$923M
$830M
$480M
$70.5M
$62.2M
$31.2M
$14.9M
US
Israel
Europe
Taiwan
Canada
India
Japan
Australia
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.6 $0.6 $0.8 $0.6
$1.0 $1.0
$2.6
2011 2012 2013 2014 2015 2016 2017
$10.1
$12.6
$4.4
$7.0
$2.7
$15.9
$8.2
$30.0
$13.7
$5.8 $7.9
$17.2 $15.5 $17.1
$72.8 $73.1
$16.7
$67.7
$15.0 $18.5
$171.8
Electric Vehicles > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Electric Vehicles; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$5K* $11M
$50K $31M
$92K $80M
$50K $1B
$22M
$7M
$2.8M
$0.3M
Series C+
Series B
Series A
Seed
Stage

Note: 266 companies with undisclosed funding amount are not included
28
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
66
88
57
8
23
No. of Companies
Electric Vehicles > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Electric Vehicles; as of Mar 2018
Distribution of companies by Funding Range
$20M
$349M
$1.2B
$521M
$8.5B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
23%
8%
4%
2%
29
Note: Numbers in the brackets show the count of companies
Time to raise
next round
51
82
168
472
2080
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
23% 3%
(71)
2%
(39)
3%
(70)
7%
(145)
67%
(1393)
36% 14%
(66)
7%
(34)
7%
(35)
8%
(40)
49%
(229)
49% 24%
(41)
5%
(9)
8%
(14)
11%
(19)
32%
(53)
62% 38%
(31)
6%
(5)
11%
(9)
18%
(15)
9%
(7)
- 39%
(20)
8%
(4)
10%
(5)
24%
(12)
-4%
(-2)
Electric Vehicles > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Electric Vehicles
Funding Funnel
15 Months
14 Months
21 Months
Investment backedBootstrapped
35
4
11
325
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Electric Vehicles > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Electric Vehicles; Mar 2016-Mar 2018
Notable Investments in last 24 months (1/7)
LATE STAGE
$1B - Series D Dec 2017
$550M - Series D Feb 2018
$400M - PE Apr 2017
National Venture Capital Association
$300M - Series C Sep 2017
Electric scooter developer and battery swapping
infrastructure provider
Temasek, Generation Investment Management,
Sumitomo Corporation, Engie
LATE STAGE
$140M - Series E Jan 2017
Tao Capital Partners, KPCB, GM Ventures, 88 Green
Ventures, Edison Energy, Constellation Technology
Ventures
$100M - Series C Oct 2017
robots
SDIC
$82M - Series G Mar 2017
Daimler, BMW i Ventures, Linse Capital, Rho Capital
Partners, Braemar Energy Ventures
$60M - Series C Sep 2017
Israel, Shandong Luxin Investment Holdings Group
LATE STAGE
$58.1M - Series F May 2016
Braemar Energy Ventures, Constellation, Statoil,
Envision Ventures, Linse Capital
$55M - Series F Jun 2017
BMW i Ventures, Generation Investment
Management
$43M - Series G Jun 2017
Linse Capital, Rho Capital Partners, BMW i Ventures,
Braemar Energy Ventures, Siemens
$27M - Series C Jun 2017
Grassy Creek, Mountain Nazca

LATE STAGE
$22.2M - Series D Oct 2017
XL Hybrids (2008, Boston, $50.2M)
Powertrain for hybrid vehicles
IKEA, Constellation Technology Ventures
$21.1M - Series C Jan 2018
Universal Partners, Parkwalk
$20.8M - Series C Feb 2018
$10.5M - Series C Sep 2016
H&Q Asia Pacific
$4.8M - Series C Dec 2016
LATE STAGE
$4.4M - PE Jul 2016
AVID Technology (2009, Cramlington, $4.4M)
Components of electric drive systems and thermal
management systems for hybrid and electric
vehicles
NVM Private Equity, Downing, The North East
Technology Fund
$2.6M - Series C Aug 2017
$1.8M - Series C Jul 2017
Series C Mar 2018
Harley Davidson
Series C May 2016
Parkwalk, 24 Haymarket
EARLY STAGE
$200M - Series A Jul 2016
AID Partners, Lux Capital, DFJ
$100M - Series B Feb 2018
Intel Capital, EDBI, JetBlue Technology Ventures,
Toyota AI Ventures, Allen & Company, AME Cloud
Ventures, Capricorn, 8VC, Sky Dayton, Paul Sciarra,
Ron Conway
$90M - Series B Sep 2017
Lilium (2015, Gilching, $101M)
Vertical take-off and landing electric jet
Tencent, LGT, Atomico, Obvious Ventures

EARLY STAGE
$70M - Series B Jul 2016
Protean Electric (2009, Troy, $154M)
Electric drive system developer
Oak Investment Partners, Zhejiang VIE Science &
Technology, Tianjin THSG Corporation, GSR
Ventures
Cityscoot (2013, Paris, $68M)
Network of electric scooters for rent
RATP Group, InVenture Partners, Groupe Caisse des
Depots, LeasePlan
$50M - Series A Oct 2016
$34M - Series B Oct 2016
Navya Technology (2014, Paris, $38.5M)
Autonomous electric shuttle for mobility
Keolis, Valeo, CapDecisif Management, Gravitation,
360 Capital Partners, Qatari Investors
EARLY STAGE
$32.4M - Series B Sep 2017
Rimac Automobili (2009, Sveta Nedjelja,
$44.9M)
Developer of electric vehicles and drivetrain
components
Camel Group
$30M - Series B Oct 2016
Hero MotoCorp
$29.4M - Series A Aug 2017
Volocopter (2012, Bruchsal, $35.2M)
Developer of electric helicopters
Daimler, Lukasz Gadowski
$21M - Series A Sep 2017
Hyliion (2015, Pittsburgh, $21.1M)
Regenerative braking based add-on hybrid solution
for trucks and trailers
Axioma
EARLY STAGE
Network of electric scooters for rent
Avolta Partners, LeasePlan
$17.5M - Series B May 2016
Electric wheelchair for elderly and differently-abled
Eight Roads Ventures
$17M - Series A Feb 2018
Teo Taxi (2015, Montreal, $17M)
On-demand all-electric cab service
XPND Capital, Caisse de depot et placement du
Quebec, Fonds de solidarite FTQ, Fondaction
$15.6M - Series B Dec 2016
Emerald Technology Ventures, Finnish Industry
Investment, Sinituote, VNT Management, Green
Campus Innovations, Suffice Group, Ilmarinen,
LahiTapiola

EARLY STAGE
$15M - Series A Jan 2017
EasyMile (2014, Toulouse, $15M)
Autonomous electric shuttle for last mile
connectivity
ALSTOM
Embark (2016, San Francisco, $15M)
Developing software for self-driving commercial
trucks for the long haul stretches
Data Collective, Y Combinator, Maven Ventures, SV
Angel
$14.8M - Series A Dec 2016
InstaVolt (2016, Basingstoke, $14.8M)
Rapid EV charging infrastructure
Zouk Capital
$13.2M - Series A Oct 2017
SF Motors (2016, Santa Clara, $13.2M)
Developer of electric vehicles
EARLY STAGE
$12.8M - Series A Apr 2016
Investissement Quebec
$12.5M - Series A Mar 2016
Zhongding Group
$11.5M - Series B Oct 2016
Volta Charging (2010, San Francisco, $23.9M)
Electric vehicle charging network developer
$10M - Series A Dec 2017
Nikola Motor (2014, Salt Lake City, $10M)
Developer of electric trucks
Wabco
$8M - Series B Mar 2018
e-bike drive system
Unternehmertum Venture Capital Partners, High-
Tech Grunderfonds, Bayern Kapital
EARLY STAGE
$8M - Series B Mar 2017
Wrightspeed (2005, San Jose, $18M)
Powertrains for Electric Vehicles
$7.9M - Series A Apr 2017
Unu (2013, Munich, $7.9M)
Electric scooters
Capnamic Ventures, Iris Capital, NRW.BANK,
Founder
$7.5M - Series A May 2016
Martin Eberhard, Elon Musk, Marc Tarpenning
$7M - Series B Dec 2017
$5.8M - Series A Nov 2017
Intel Capital, Btov

EARLY STAGE
Lightning Systems (2008, Loveland, $10.2M)
Hydraulic hybrid drive system with regenrative
braking for commercial vehicles
$5M - Series B Aug 2016
Nohms Technologies (2010, Rochester, $6.9M)
Battery component manufacturer
Phoenix Venture Partners, Solvay, Empire State
Development
$3.5M - Series A Oct 2017
Bolt Mobility (2014, Delft, $4.6M)
Smart electric scooters
Seedrs
$3.2M - Series B Mar 2017
e-bike drive system
High-Tech Grunderfonds, Bayern Kapital
EARLY STAGE
$3.1M - Series B Nov 2017
Hero MotoCorp
$2.4M - Series A Sep 2017
Lightning Systems (2008, Loveland, $10.2M)
Hydraulic hybrid drive system with regenrative
braking for commercial vehicles
$2.3M - Series B Jun 2016
$2.3M - Series B Jul 2016
Evatran (2009, Wytheville, $16M)
Wireless Charging for Electric Vehicles
Zhejiang VIE Science & Technology
$2M - Series B Aug 2017
$2M - Series B Sep 2016
EARLY STAGE
$2M - Series A Apr 2016
Auro Robotics (2013, Santa Clara, $2M)
Hi-tech robotics startup building autonomous
driving car
Motus Ventures, Rothenberg Ventures
$2M - Series B Nov 2016
Electric wheelchair for elderly and differently-abled
Zehus (2013, Milano, $3.3M)
Propulsion systems for electric bicycles
Vittoria, Invitalia Ventures
$1.6M - Series A Mar 2017
Zehus (2013, Milano, $3.3M)
Propulsion systems for electric bicycles
Invitalia Ventures
$1.1M - Series A Jun 2017
Fastned (2012, Amsterdam, $6.1M)
Network of electric vehicle charging stations

EARLY STAGE
Series B Jul 2017
Greenlots (2008, Singapore, $7M)
Electric vehicle charging solutions
Energy Impact Partners
Series B Jun 2016
Scoot Networks (2011, San Francisco, $6.2M)
Electric Scooter rentals
Mahindra Partners, Vision Ridge Partners
Series A Jun 2016
Capricorn
Series A Dec 2017
Helvetia
EARLY STAGE
Series A Oct 2017
Regenerative braking based add-on hybrid solution
for trucks and trailers
Sumitomo Corporation of Americas, Axioma
Series A Jul 2017
EasyMile (2014, Toulouse, $15M)
Autonomous electric shuttle for last mile
connectivity
Continental Information Systs
Series A Oct 2017
Altigreen Propulsion Labs (2012, Bangalore,
$4.3M)
Technology enabled solutions for electric and hybrid
powertrains
SEED STAGE
$30M - Seed Aug 2017
Romeo Power (2015, Santa Monica, $30M)
Home based and EV energy storage developer
$11.5M - Seed Jan 2018
May Mobility (2017, Ann Arbor, $15.2M)
Autonomous electric vehicles
BMW i Ventures, Toyota AI Ventures, Maven
Ventures, SV Angel, Tandem Capital, Trucks Venture
Capital, Y Combinator
$8M - Seed Jun 2016
Aquarius Engines (2014, Rosh Haayin, $8M)
Power generators for hybrid vehicles
$3.5M - Seed Aug 2017
Trucks Venture Capital, Maven Ventures, Tandem
Capital
$1.6M - Angel Apr 2017
Twenty Two Motors (2016, Gurgaon, $1.6M)
Developer of smart electric scooters
Farhaan Shabbir

SEED STAGE
$1.4M - Seed Apr 2017
Riversimple (2013, Llandrindod Wells, $1.4M)
Hydrogen fuel cell powered car
$1.1M - Equity Crowdfunding Sep 2016
Toroidion (2010, Raseborg, $1.1M)
Electric sports car using patented powertrain
technology
$789k - Seed Apr 2016
Linkker (2014, Lahti, $3.2M)
Electric buses for public transportation systems
Innovestor
$540k - Angel Apr 2016
Tork Motorcycles (2010, Pune, $743k)
Electric racing motorcycle
Bhavish Aggarwal, Ankit Bhati, Harpreet S Grover,
Gagan Goyal, Aditya Mittal, Ajay Trehan, Pranav
Verma, Pranay Jivrajka, Rahul Agarwal, Sameer
Nagpal, Tarun Jain, Vibhore Goyal
$432k - Seed Mar 2017
Gazelle Tech (2014, Blanquefort, $432k)
Electric car developer
SEED STAGE
$204k - Angel Jan 2018
Tork Motorcycles (2010, Pune, $743k)
Electric racing motorcycle
Chandrakant Shelke, Bhavish Aggarwal, Kapil
Shelke, Ankit Bhati
$120k - Seed Oct 2017
Y Combinator
$100k - Seed Oct 2016
Volta Motors (2015, Chennai, $100k)
Developer of electric bicycles
Kalaari Capital
$3.8k - Seed Oct 2016
Angel May 2017
Ion Energy Labs (2016, Mumbai)
Stealth mode energy storage company
Aakrit Vaish, Swapan Rajdev, Sushill K Jiwarajka

Electric Vehicles > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$1B - Series D Nov 2017
NIO (2014, Shanghai, $2.1B)
Developer of smart electric cars
Tencent, Lone Pine Capital, CITIC Capital, Baillie
Gifford
$600M - Series C Mar 2017
NIO (2014, Shanghai, $2.1B)
Developer of smart electric cars
Baidu, Tencent, Hillhouse Capital Group, Lenovo,
GIC, TPG, China Everbright, IDG Capital
$450M - Series G Jul 2016
BYD (1995, Shenzhen, $680M)
Vertically integrated solution provider for green
energy technologies
Samsung
$182M - Series C Dec 2017
ICONIQ Motors (2016, Shanghai, $182M)
GSR Ventures
LATE STAGE
$100M - Series C Oct 2017
Ninebot (2012, Beijing, $180M)
Personal transportation robot
SDIC
EARLY STAGE
$1.6B - Series B Jul 2017
Beijing Electric Vehicle (2009, Beijing, $2.1B)
Beijing Automotive Group Co, China Cinda Asset
Management
$1.1B - Series A Sep 2016
LeSEE (2015, Beijing, $1.1B)
Under development autonomous electric supercar
Lenovo, Shenzhen Capital Group, China Minsheng
Trust, Macrolink Group Limited
$1B - Series A Aug 2016
WM Motor (2015, Shanghai, $1.8B)
Smart electric car
$600M - Series B Nov 2016
Singulato Motors (2014, Beijing, $602M)
Developer of smart electric car

Most Active Investors (VC, PE) by Stage in Electric Vehicles; Last 5 years (Mar 2013-Mar 2018)
Most Active VC & PE Investors
38
Electric Vehicles > Investment Trends > Most Active VC & PE Investors
SEED STAGE
High-Tech Grunderfonds(3 Investments)
Fazua, coModule, Blue Inductive
1
Dorm Room Fund (2 Investments)
TEQ Charging, Dash Electric
2
Innovestor(2 Investments)
Linkker, Parkkisahko
3
Ulupono Initiative (2 Investments)
Volta Charging, OpConnect
4
37 Technology Ventures
EV Connect
5
Arkea Capital
Ergosup
6
Bayern Kapital
Fazua
7
BMW i Ventures
May Mobility
8
Bolt
EverCharge
9
Caixa Capital Risc
Scutum
10
EARLY STAGE
Caisse de depot et placement du
Quebec (2 Investments)
Teo Taxi, AddEnergie
1
Intel Capital(2 Investments)
Joby Aviation, Volocopter
2
Motus Ventures (2 Investments)
EV Connect, Auro Robotics
3
360 Capital Partners
Navya Technology
4
8VC
Joby Aviation
5
AID Partners
Zoox
6
Airbus Ventures
Local Motors
7
AME Cloud Ventures
Joby Aviation
8
Aravaipa Ventures
Lightning Systems
9
Atomico
Lilium
10
LATE STAGE
BMW i Ventures(2 Investments)
Proterra, ChargePoint
1
Constellation Technology Ventures (2
Investments)
Proterra, XL Hybrids
2
24 Haymarket
YASA Motors
3
Black Toro Capital
Torrot Electric
4
CDH Investments
Microvast
5
Downing
AVID Technology
6
Envision Ventures
ChargePoint
7
FirstFloor Capital
Skeleton Tech
8
GIC
Segway
9
GlenRock Israel
StoreDot
10

Electric Vehicles > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Electric Vehicles; Last 5 years (Mar 2013-Mar 2018)
Most Active Ecosystem Investors
INCUBATOR
Climate KIC(17 Investments)
Lilium, Volocopter, ViriCiti
1
500 Startups(5 Investments)
Volta Charging, Whill, ZBoard
2
Y Combinator(5 Investments)
Embark, May Mobility, Auro Robotics
3
Capital Nature(4 Investments)
Chakratec, ElectRoad, Flywheel Energy
4
Ecofuel(2 Investments)
Lito Green Motion, Azastra Optoelectrics
5
E.ON :agile(2 Investments)
POWERJames, Muvon
6
JetBlue Technology Ventures(2
Investments)
Joby Aviation, Zunum Aero
7
LRM(2 Investments)
Enervalis, Punch Powertrain
8
Techstars(2 Investments)
TEQ Charging, EcoG
9
Venture Kick(2 Investments)
Komp-ACT, Chargee
10
OTHER NOTABLE INVESTORS
UK Government(7 Investments)
ZapGo, Vantage Power, Ashwoods Automotive
1
Daimler(6 Investments)
ChargePoint, StoreDot, Volocopter
2
California Energy Commission(5
Investments)
Proterra, EV Connect, TransPower
3
InnoEnergy(5 Investments)
Northvolt, Gboost Bike, EP Tender
4
Plug and Play Tech Center(5 Investments)
FreeWire Technologies, WaiveCar, Swiftmile
5
Startupbootcamp(4 Investments)
Star Engines, coModule, Ampersand
6
European Investment Bank(3
Investments)
Visedo Oy, Skeleton Tech, Northvolt
7
Department of Energy(3 Investments)
XL Hybrids, Hyliion, TransPower
8
European Union(3 Investments)
Fastned, BVB Innovate, Quantum Electric
9
Keiretsu Forum (3 Investments)
EV Connect, RYNO Motors, Going Green
10
DEBT INVESTORS
Connecticut Innovations
Cadenza Innovation
1
Enhanced Capital
Kenguru
2
Hercules Capital
Proterra
3
Silicon Valley Bank
Envision Solar
4

Electric Vehicles > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/4)

Electric Vehicles > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
45
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
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Energy Efficiency
Feb 2018
Energy Storage
Feb 2018
Geothermal Energy
Feb 2018

Cumulative funding in the marketFunding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
For any Feedback and Query reach out to MyAnalyst@tracxn.com
March 2018Tracxn BlueBox – Electric Vehicles
47
Electric Vehicles > Market Details > BlueBox

Key Sub Sectors
48
Key Sub Sectors in Electric Vehicles
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Automaker
Companies which develop and manufacture electric vehicles including cars, two-wheelers,
commercial vehicles and personal mobility equipment
Tesla (2003, Palo Alto, Public)
1125 196 $6.6B
Components
Companies focused on developing components for the electric vehicles and working towards
improvement of the technology powering these components
A123 Systems (2001, Westborough,
Acquired)
274 112 $2.5B
Charging Solutions
Companies focused on developing charging infrastructure such as charging stations and
networks
NewMotion (2009, Amsterdam, Acquired)
Better Place (2007, Rosh Haayin, $737M)
406 95 $1.4B
Vehicle-as-a-service
Companies offering electric vehicle sharing and rental services resulting in increased
adoption of electric vehicles
E-Car Club (2011, London, Acquired)
151 39 $120M
Conversion Kits
Companies developing systems to convert gasoline vehicles to hybrid vehicles
Adomani (2011, Orange County, Public)
53 20 $29M
Vehicle Management
Companies developing vehicle management solutions such as energy management systems
for electric vehicles
J-Tek (2002, Hsinchu, Public)
Spiers New Technologies (2015, Oklahoma
City, $2.4M)
31 9 $4.3M
Retail
Companies focused on selling electric vehicles and components
Frost EV Parts (2011, Daventry, Acquired)
ZEEV (2011, Lisbon)
40 1 -
Electric Vehicles > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/5)
49
Electric Vehicles > Market Details > Detailed Sector Taxonomy

50

51

52

53

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+1)
Automaker > Cars
Companies focused on developing electric cars
(Companies covered 157 | Funded 43 | Total Funding $4.3B)
$1.9B
(+$1.7B)
16
(+2)
Faraday Future
(2014, Gardena, $1.6B)
2
(+1)
Charging Solutions > Plug-in Charging
Companies focused on developing plug-in charging equipment such as charging points
(Companies covered 174 | Funded 44 | Total Funding $515M)
$255M
(+$200M)
21
(+4)
ChargePoint
(2007, Campbell, $298M)
3
(-2)
Components > Batteries
Companies focused of developing batteries for electric vehicles
(Companies covered 93 | Funded 42 | Total Funding $1.7B)
$528M
(+$75.3M)
11
(-4)
Microvast
(2006, Stafford, $430M)
4
(-1)
Components > Electric Drive Systems
Companies working on the development of electric and hybrid drive systems for vehicles
$154M
(+$101M)
15
(-2)
Protean Electric
(2009, Troy, $154M)
5
(+2)
Automaker > Two-wheelers > Motorcycles
Companies developing electric motorcycles
$76.4M
(+$31.1M)
17
(+5)
Alta Motors
(2010, San Francisco, $65.3M)
6
(-1)
Automaker > Two-wheelers > Scooters
Companies developing electric scooters
$348M
(+$199M)
8
(-)
Gogoro
(2011, Taipei, $480M)
7
(+2)
Automaker > Nontraditional > Aerial
Companies focused on developing electric aircraft, electric helicopters, and flying cars
$236M
(+$236M)
10
(+9)
Joby Aviation
(2009, Santa Cruz, $130M)
54
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Electric Vehicles in last 2 years (March 2016 - February 2018)
Electric Vehicles > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
Electric Vehicles > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Automaker > Nontraditional > Aerial
Companies focused on developing electric aircraft, electric helicopters, and flying cars
(Companies created 24 | Funded 10 | Total Funding $372M )
2
2
Automaker > Cars
Companies focused on developing electric cars
(Companies created 157 | Funded 43 | Total Funding $4.3B )
1 Zoox (2013, Menlo Park, $290M)
3
Automaker > Commercial Vehicles > Trucks > Autonomous
Companies developing autonomous heavy-duty electric trucks
(Companies created 3 | Funded 1 | Total Funding $15M )
1 Embark (2016, San Francisco, $15M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
56
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (March 2016 - February 2018)
Electric Vehicles > Market Details > Top Markets of Early Stage Investors

Incubators Y Combinator (#1)
Seed BMW i Ventures (#1), Toyota AI Ventures (#1)
Series A/B New Enterprise Associates (#1), Advanced Equities (#1)
Series C+ DFJ (#1), Capricorn (#1)
Arcimoto Sep - 2017
IPO'd
GLM Jul - 2017
Acq by O Luxe Holdings for $115M
Electra Meccanica Jul - 2017
IPO'd on OTCMKTS
Eon Motors Nov - 2013
IPO'd on EURONEXT
$550M - Series D
Faraday Future (2014, Gardena,
$1.6B)
$11.5M - Seed
May Mobility (2017, Ann Arbor,
$15.2M)
$1B - Series D
Faraday Future (2014, Gardena,
$1.6B)
Series A
Rivian Automotive (2009, Livonia)
$120k - Seed
May Mobility (2017, Ann Arbor,
$15.2M)
$32.4M - Series B
Rimac Automobili (2009, Sveta
Nedjelja, $44.9M)
$1.2M - Seed
Sono Motors (2013, Munich)
Mar 2018
Tesla’s massive virtual power plant with Powerwalls in
Australia at risk under new government, Electrek
Mar 2018
Tesla shares to drop more than 30 percent in the next 6
months on weak Model 3 deliveries, CNBC
Mar 2018
Indian-born British billionaire plans to break Tesla’s record
for world’s biggest battery, TechRadar
Mar 2018
Tesla will be working with its first pilot customers to build
electric charging centers, Gulf Tomorrow
Mar 2018
Tesla Model 3 Heated Rear Seats Now Activated Via OTA
Update, Inside EVs
Mar 2018
Faraday Future’s Former Executives to Start Electric Car
Production in China to Rival Jia Yueting’s Plans, Yicai Global
Mar 2018
Pole Star expands into APAC with Intechnology Distribution
deal, Reseller
Mar 2018
Attentions focussed on reports of Tesla's manufacturing
problems, Proactive Investors
Mar 2018
Tesla Model S, Model X Production Efficiency Improved,
News18
Mar 2018
Electric truck will exceed expectations: Musk , Today's
Trucking
Mar 2018
Tesla’s Make-Or-Break Moment Is Fast Approaching, The Wall
Street Journal
Mar 2018
Tesla executive upheaval tests if Musk can lead as well as
dream, Indiatimes
Mar 2018 Polestar 1 receives 6,000 pre-orders, LeftLaneNews
Mar 2018 Chinese investment firm invests $500M in Nevs, Evertiq
News
0
2
4
6
8
10
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
2013 2014 2015 2016 2017
YoY Funding Rounds
6
8
18
43
157
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Automaker > Cars: Market Factsheet
Market: Cars
57
Exits
Most Active Investors
Recent Investments
YoY Funding and Rounds
Companies focused on developing
electric cars
Faraday Future
(2014, Gardena, $1.6B)
Zoox
Lucid Motors
GreenTech Automotive
(2009, Mclean, $47M)
Rimac Automobili
(2009, Sveta Nedjelja, $44.9M)
Top Companies
#1 Top Markets of Investment Activity
Electric Vehicles > Market Details > Market: Cars
Companies Created 157 | Funded 43 | Total Funding $4.3B

Automaker > Cars: Top Companies
Market: Cars (1/2)
Analyst’s Pick
INNOVATUS CAPITAL PARTNERS, LeEco
Unicorn. Stage: Public
Tencent, Deutsche Bank, California Energy
Commission and 27 Other Investors
Unicorn. Stage: Series A
AID Partners, Lux Capital, DFJ and 4 Other
Investors
Lucid Motors (2007, Menlo Park, $131M)
Beijing Automotive Group Co, Tsing Capital,
Venrock and 2 Other Investors
Analyst’s Pick
Rimac Automobili (2009, Sveta Nedjelja,
$44.9M)
Developer of electric vehicles and drivetrain
components
Minicorn. Stage: Series B
Camel Group, China Dynamics
GLM (2010, Kyoto, $21M)
Riyadh Valley Company, University of Tokyo Edge
Capital, Mitsubishi UFJ Capital and 5 Other
Investors
Minicorn. Stage: Seed
BMW i Ventures, Toyota AI Ventures, Maven
Ventures and 8 Other Investors
Riversimple (2013, Llandrindod Wells, $1.4M)
Hydrogen fuel cell powered car
Innovate UK
Analyst’s Pick
Uniti (2016, Lund, $1.3M)
Developer of premium electric cars
Editor's Pick. Stage: Funded
Toroidion (2010, Raseborg, $1.1M)
Electric sports car using patented powertrain
technology
Minicorn. Stage: Funded
Gazelle Tech (2014, Blanquefort, $432k)
Electric car developer
Minicorn. Stage: Public
Fisker (2016, Los Angeles)
Jose Marin, Fabrice Grinda, Thynk Capital
Genovation Cars (2007, Rockville)
Developer of electric and plug-in hybrid vehicle
MIPS

Automaker > Cars: Top Companies
Market: Cars (2/2)
Analyst’s Pick
Karma Automotive (2015, Costa Mesa)
Luxury hybrid cars
Minicorn. Stage: Unfunded
nanoFlowcell (2013, Vaduz)
Flow cell drive technology based electric vehicles
Varsovia Motor Company (2015, Radzymin)
Hi-tech hybrid electric car
Open Motors (2013, Palo Alto)
White-label autonomous driving solution for fleet
owners
Editor's Pick. Stage: Funded
OSventure

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
60
Automaker > Cars: Leaderboard
Market: Cars
Better than Market Average
Overall
Rating
Company
Name
Foun
ded
Year
Location Stage Funding Team
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Tesla 2003 Palo Alto Public $454M - 4 - 3 1162 3k 1M 300k 3.7k 1k 13% 413 15% - -
5.0
Mahindra
Electric
1994 Bangalore Funded $20M - 3 - 4 15 299k 15k 300 6 - - - - 2.8k 21%
4.9 Uniti 2016 Lund Funded $1M - - - 5 7 526k 6.4k - - - - - - 326 5%
4.9 Exagon Motors 2011
Magny-
cours
Unfunded - - 5 - - - 10M 204 300 12 15M 331% - - 7 3%
4.9 Sono Motors 2013 Munich Seed - - - - 3 4 417k 2.5k - - - - - - 821 46%
4.8 Tazzari Zero 1963 Imola Unfunded - - - - 5 - - 455 - - - - - - 56 13%
4.8 Open Motors 2013 Palo Alto Funded - - 4 - 4 - 1.7M 2.9k 3k 30 - - - - - -
4.7 Faraday Future 2014 Gardena Series D $1.6B - 5 - - 84 110k 65k 3k 77 -35k -24% - - - -
4.7
Venturi
Automobiles
1984 Monaco Unfunded - - 5 - - 1 3.3M 3k 75 1 - - - - - -
4.7 Moke America 2017
New York
City
Unfunded - - - - 4 - 2.2M 125 - - - - - - 67 78%
4.6 Arcimoto 2007 Eugene Public $3M - - - - 16 771k 4k - - 198k 35% - - 189 5%
4.6 Lucid Motors 2007 Menlo Park Series C $131M - - - - 29 326k 6.9k - - - - - - 1.1k 17%
4.6
Rimac
Automobili
2009
Sveta
Nedjelja
Series B $45M - - - - 11 180k 10k - - -33k -16% - - 3.8k 60%
4.5 Zoox 2013 Menlo Park Series A $290M - - - - 9 627k 755 - - 97k 15% - - 12 2%
4.5 XYT 2016 Paris Unfunded - - - - 3 - 5.1M 197 - - - - - - 31 17%

Incubators OrangeFab (#1), E.ON :agile (#1)
Seed Envestors (#1), Bolt (#1)
Series A/B Rho Ventures (#1), Voyager Capital (#1)
Series C+ Daimler (#1), BMW i Ventures (#1)
Signet Systems Aug - 2017
IPO'd on KOSDAQ
Delta-Q Technologies Nov - 2016
Acq by ZAPI
DBT Dec - 2015
IPO'd on EURONEXT
$5M - Series A
FreeWire Technologies (2014, San
Leandro, $18.3M)
$5.7M - Series A
Leandro, $18.3M)
Series A
SMATRICS (2012, Vienna)
Series B
Mobility House (2009, Munich)
Series A
Leandro, $18.3M)
Series A
Leandro, $18.3M)
$7.9M - Angel
Tritium (2001, Brisbane, $13.6M)
$43M - Series G
Mar 2018
Gnewt Cargo powers up London's largest electric vehicle
charging site, Incisive Business Media
Mar 2018
Another DOE National Laboratory Selects Envision Solar EV
ARC™ Solar Charging Stations for its Fleet EVs, Marketwired
Mar 2018 SparkCharge, one year after winning NYBPC, UVC
Mar 2018
TenneT, The Mobility House and Nissan work together on
V2G project, TELEMATICS WIRE
Mar 2018
Australian EV Charging Company Opens Netherlands
Headquarters, Automotive Fleet
Mar 2018
Circontrol presents its global solution for Efficient Parking at
Intertraffic, ParkNews
Mar 2018
Frost & Sullivan Recognizes AddÉnergie with the North
American Competitive Strategy Innovation and Leadership
Award for Its Leadership in Electric Vehicle Smart Charging
Stations, PR Newswire
Mar 2018
Chargemaster invests £50m in Polar network to match
predicted EV growth, AM
Mar 2018
eMotorWerks expands further in Europe, Power Engineering
International
Mar 2018
Alfen’s owner Infestos confirms Dutch Euronext IPO, Energy
Storage News
Feb 2018
Ingeteam wins control center contract with renewable
energy company Zuma Energía, PennWell Corporation
Feb 2018
ChargePoint Stations Deliver Juice To EVs Over 1 Million
Times Per Month, Inside EVs
Feb 2018
InstaVolt triples its order book for electric vehicle chargers,
Fleet News
News
0
2
4
6
8
10
12
14
$0k
$50M
$100M
$150M
$200M
2013 2014 2015 2016 2017
YoY Funding Rounds
5
4
16
44
174
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Charging Solutions > Plug-in Charging: Market Factsheet
Market: Plug-in Charging
61
ExitsMost Active Investors
Recent Investments
Companies focused on developing
plug-in charging equipment such
as charging points
ChargePoint
(2007, Campbell, $298M)
SemaConnect
(2008, Bowie, $27M)
BTCPower
(1999, Santa Ana, $20M)
FreeWire Technologies
(2014, San Leandro, $18.3M)
Delta-Q Technologies
(1999, Burnaby, $17M)
Top Companies
Electric Vehicles > Market Details > Market: Plug-in Charging
Companies Created 174 | Funded 44 | Total Funding $515M

Charging Solutions > Plug-in Charging: Top Companies
Analyst’s Pick
Soonicorn. Stage: Series G
Linse Capital, Rho Capital Partners, BMW i Ventures
SemaConnect (2008, Bowie, $27M)
Electric Vehicle Solutions for Commercial
Properties
PEAR TREE PARTNERSHIP LTD, TEDCO
Tandem Expansion Fund
Investissement Quebec, Natural Resources
Analyst’s Pick
Zhongding Group, Catalyst Venture Partners
Chargemaster (2008, Luton, $11.6M)
Electric vehicle charging infrastructure
Beringea, BMW i Ventures, Envestors and 3 Other
Investors
Ubitricity (2008, Berlin, $6.7M)
Smart mobile charging infrastructure for electric
vehicles
Minicorn. Stage: Series A
Earlybird Venture Capital, IBB
Beteiligungsgesellschaft
NRGkick (2014, Lugitsch)
Portable charging station for EV charging
Bluemass Robotics (2015, Vancouver)
Autonomous solution for charging electric and
hybrid vehicles
Editor's Pick. Stage: Unfunded
Analyst’s Pick
eMotorWerks (2010, San Carlos)
Smart EV charging stations
Editor's Pick. Stage: Acquired
VTF Capital, The Ecosystem Integrity Fund
Geo-Line (2014, Seoul)
Mobile charging-payment solution for electric
vehicles
Editor's Pick. Stage: Seed
OrangeFab, KIC-Europe

63
Charging Solutions > Plug-in Charging: Leaderboard
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Ubitricity 2008 Berlin Series A $7M - 5 - - 1 3.7M 1.4k 300 8 3M 149% 1 14% 231 21%
5.0 POD Point 2009 London Series B $13M - 3 - - 12 436k 6.6k 30k 69 -81k -16% 9 17% 831 14%
4.9 ChargePoint 2007 Campbell Series G $298M - 3 - - 32 102k 14k 303k 3k 2k 2% 119 15% 1.9k 15%
4.9 eMotorWerks 2010 San Carlos Acquired - - 4 - - 18 458k 2.5k 8k 102 30k 7% 14 17% 146 6%
4.9 SMATRICS 2012 Vienna Series A - - 4 - - 2 1.9M 763 8k 35 2M 120% 4 12% 98 14%
4.8 Ingeteam 1972 Zamudio Unfunded - - 4 - - 7 461k 2.2k 2k 16 -5k -1% 19 493% 240 12%
4.8 Chargemaster 2008 Luton Series A $12M - 1 - - 14 1.2M 5.9k 8k 173 -34k -3% 44 42% 875 17%
4.8 Esarj 2008 Istanbul Unfunded - - 4 - - - 2.5M 4.4k 750 20 2M 82% 3 18% -1 -
4.8 SemaConnect 2008 Bowie Series C $27M - 2 - - 3 835k 20 30k 212 -173k -20% 45 31% 2 6%
4.7 OpConnect 2008 Portland Seed $400K - 2 - - - 9.1M 805 750 17 - - 3 21% 30 4%
4.7 Wallbox 2015 Barcelona Unfunded - - 3 - - - 680k 592 750 20 - - 23
-
1079
%
265 72%
4.7 EV-Box 2010 Amsterdam Acquired - - 3 - - 4 1.1M 2.9k - 8 130k 18% - - 396 16%
4.6 Clever 2009
Copenhage
n
Unfunded - - 3 - - 3 1.8M 454 30k 90 26k 2% 16 20% 24 5%
4.6
FreeWire
Technologies
2014
San
Leandro
Series A $18M - 5 - - 5 2.5M 874 330 2 -493k -17% - - 49 6%
4.6 RWE eMobility 2009 Essen Unfunded - - 4 - - - 6.5M 10 30k 98 4M 90% 3 3% - -

Incubators Capital Nature (#1), MassChallenge (#1)
Seed Rivers Capital Partners (#1), Warsaw Equity Group (#1)
Series A/B KIC InnoEnergy (#2), GM Ventures (#1)
Series C+
Armilar Venture Partners (#1), Alliance Capital Ventures
(#1)
Voltabox Oct - 2017
IPO'd
Sakti3 Oct - 2015
Acq by Dyson for $90M
A123 Systems Sep - 2015
Acq by Wanxiang America
Kodi-S Jan - 2010
IPO'd
Schnapp Batteries Jan - 2008
IPO'd on TLV
Valence Jan - 2003
IPO'd
$60M - Series C
$30M - Seed
Romeo Power (2015, Santa Monica,
$30M)
Angel
$400M - PE
$7.6M - Series A
ZapGo (2013, Oxford, $8.1M)
$5M - Series B
Nohms Technologies (2010,
Rochester, $6.9M)
Mar 2018
Skeleton Tech CEO: Bankability of ultracapacitors could be
key to lithium-ion hybrid potential, Energy Storage News
Mar 2018 Ultracharge Signs LoI With Aeronautics Ltd, Reuters
Mar 2018
StoreDot Announces Funding and Strategic Partnership With
TDK Corporation - a Global Leader in Development and
Manufacturing of Li-Ion Batteries, Newswire
Feb 2018
Skeleton Technologies’ Graphene Ultracapacitors Deliver
34% Fuel Savings To Baltic Sea Container Terminal, Green
Energy News
Feb 2018
Hyperdrive completes high-density battery project with
Nissan, ElecTrans
Feb 2018
German battery maker Akasol eyes options including
flotation, btvi.in
Feb 2018
RELiON Battery Announces New Facilities in Southern
California and Shenzhen, China, PR Newswire
Feb 2018 Skeleton is packing up and leaving for Germany, Evertiq
Feb 2018
Electrovaya Reports Financial Results for Q1 2018,
GlobeNewswire
Feb 2018
Northvolt gets $68 million to build demonstration battery
line for its own Gigafactory, Electrek
Feb 2018 Lithium Werks Acquires Valence Technologies, Citybizlist
Feb 2018 ION Energy acquires Freemens SAS, Indiatimes
Feb 2018
Skeleton Technologies appoints former GM Technical Fellow
Dr. Scott Jorgensen as a Board advisor; curved graphene
ultracaps, Green Car Congress
Jan 2018 Battery Hybrid Patrol Boat under Development, MarineLink
News
0
2
4
6
8
10
$0k
$100M
$200M
$300M
$400M
$500M
$600M
2013 2014 2015 2016 2017
YoY Funding Rounds
9
9
21
42
93
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Components > Batteries: Market Factsheet
Market: Batteries
64
Exits
Most Active Investors
Recent Investments
Companies focused of developing
batteries for electric vehicles
Boston Power
(2005, Westborough, $638M)
Microvast
(2006, Stafford, $430M)
StoreDot
(2012, Herzliya, $126M)
Phinergy
(2008, Lod, $50M)
Sakti3
(2007, Ann Arbor, $47M)
Top Companies
Electric Vehicles > Market Details > Market: Batteries
Companies Created 93 | Funded 42 | Total Funding $1.7B

Components > Batteries: Top Companies
Market: Batteries
Analyst’s Pick
Lithium-ion battery provider
Unicorn. Stage: Series F
GSR Ventures, Foundations Asset Management, Oak
Investment Partners and 6 Other Investors
National Venture Capital Association and 2 Other
Investors
Israel and 6 Other Investors
Phinergy (2008, Lod, $50M)
Metal-air battery technology for EVs
Alcoa
Analyst’s Pick
Nohms Technologies (2010, Rochester, $6.9M)
Battery component manufacturer
Minicorn. Stage: Series B
Phoenix Venture Partners, Solvay, Empire State
Development and 2 Other Investors
BVB Innovate (2002, Stuttgart)
Mobile energy systems for electric vehicles
European Union
InEVit (2016, Bietigheim-bissingen)
Stealth mode electric vehicles components startup
Minicorn. Stage: Acquired
Plug and Play Tech Center
Stealth mode energy storage company
Aakrit Vaish, Swapan Rajdev, Sushill K Jiwarajka
Tanktwo (2012, Vantaa)
Battery technology for electric vehicles
Plug and Play Tech Center
Analyst’s Pick
Electra Vehicles (2015, Boston)
Hybrid energy storage solution for automotive and
stationary use
Editor's Pick. Stage: Seed
MassChallenge
PolyPlus (1991, San Francisco)
Developing lightweight lithium battery technology
Editor's Pick. Stage: Unfunded

66
Components > Batteries: Leaderboard
Market: Batteries
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Northvolt 2015 Stockholm Public - - - - 4 9 1.1M 1.3k - - - - - - 525 62%
4.9 Forsee Power 2011 Paris Funded - - - - 4 - 4.3M 268 - - - - - - 47 21%
4.9
Electra
Vehicles
2015 Boston Seed - - - - 4 - 3.9M 57 - - - - - - 8 13%
4.8 StoreDot 2012 Herzliya Series C $126M - - - - 8 1.8M 955 - - 979k 116% - - 51 5%
4.8 A123 Systems 2001
Westborou
gh
Acquired $251M - - - - 7 693k 1.9k - - 25k 4% - - 32 2%
4.7 Valence 1989 Austin Public $1M - - - - 1 1.1M 114 - - 23k 2% - - 15 14%
4.7
Hyperdrive
Innovation
2010 Sunderland Series A $5M - - - - 3 5.8M 1.5k - - 319k 6% - - 160 12%
4.6 Skeleton Tech 2009 Berlin Series C $35M - - - - 11 1.5M 923 - - -372k -20% - - 53 6%
4.5 ZapGo 2013 Oxford Series A $8M - - - - 5 1.6M 713 - - - - - - 107 17%
4.5 Electrovaya 1997 Mississauga Public - - - - - 19 2.4M 959 - - 516k 28% - - 48 5%
4.4 E4V 2008 Le Mans Series A $2M - - - - - 4.1M 132 - - - - - - 17 14%
4.4 Sakti3 2007 Ann Arbor Acquired $47M - - - - 4 2.5M 202 - - -1.1M -29% - - 5 2%
4.3
FastCAP
System
2008 Boston Series A $9M - - - - 1 2.6M 123 - - -3.6M -59% - - 2 1%
4.3 Trojan Battery 1925
Santa Fe
Springs
Unfunded - - - - - 3 333k 1.6k - - 10k 3% - - 136 9%
4.2 Envia Systems 2007 Newark Series C $27M - - - - 2 4.5M - - - 245k 6% - - - -

Market: Electric Drive Systems
67
Electric Vehicles > Market Details > Market: Electric Drive Systems

Market: Electric Drive Systems (1/2)

Market: Electric Drive Systems (2/2)

Market: Electric Drive Systems

Market: Motorcycles
71
Electric Vehicles > Market Details > Market: Motorcycles

Market: Motorcycles

Market: Scooters
74
Electric Vehicles > Market Details > Market: Scooters

Market: Scooters

Market: Aerial
77
Electric Vehicles > Market Details > Market: Aerial

Market: Aerial

Market: Scooters
80
Companies Created 24 | Funded 8 | Total Funding $76.3M

Market: Scooters

Market: Charging Network
83
Electric Vehicles > Market Details > Market: Charging Network

Market: Autonomous
86
#3 Top Markets of Early Stage Investors
Electric Vehicles > Market Details > Market: Autonomous

Market: Autonomous

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
89
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/5)
91
Performance indicators of public companies in Electric Vehicles
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Oct 2017
Voltabox (1835, Delbruck)
Manufacturer of Li-ion based battery management system for
electric vehicles
$449M VBX
Sep 2017
Arcimoto (2007, Eugene)
FUV
Aug 2017
Signet Systems (1998, Daema-myeon)
$4.2M KOSDAQ:260870
Jul 2017
Electra Meccanica (2015, Vancouver)
$246M
OTCMKTS:ECCT
F
Jun 2017
Adomani (2011, Orange County)
Conversion solution for school buses and commercial vehicles
$97.6M NASDAQ:ADOM
Dec 2015
DBT (1990, Brebieres)
Manufacturer of electrical equipment for energy and auto industry
EURONEXT:ALD
BT
Dec 2013
Aleees (2005, Taoyuan City)
Lithium battery cathode materials and electric buses
$40.6M TPE:5227
Nov 2013
Eon Motors (2009, Malijai)
EURONEXT:MLE
MG
Sep 2011
PNE Solution (2004, Suwon-si)
Electric vehicle charging solutions and energy storage systems
$147M $48.3M $38.8M 21.23 KOSDAQ:131390
Electric Vehicles > Exit Outlook > Public Companies

92
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Sep 2011
J-Tek (2002, Hsinchu)
Developer of battery management systems
TPE:5260
Jun 2011
GreenPower Motor Company (2010, Vancouver)
Electric commercial vehicles
$36.6M $1.3M CVE:GPV
May 2011
T3 Motion (2006, Costa Mesa)
Personal transportation provider for Police and Security
$228k OTCMKTS:TTTM
Jul 2010
ChaoWei Power (2002, Huzhou)
Developer of Li-ion and lead-acid batteries
HK:951
Jun 2010
Tesla (2003, Palo Alto)
$59.2B NASDAQ:TSLA
Jun 2010
Workhorse Group (2007, Cincinnati)
Electric powertrains and commercial vehicles; drone-based
deliveries
$131M $6.4M NASDAQ:WKHS
May 2010
Envision Solar (2006, San Diego)
Offers solar trees for parking lots and solar EV charging solutions
$29.3M OTCMKTS:EVSI
Jan 2010
Kodi-S (1999, Yongin)
Battery and charger manufacturers
80530
Nov 2008
Balqon (2005, Los Angeles)
Lithium based energy storage systems and heavy duty electric
vehicle drivetrains
$36.9k OTCMKTS:BLQN

93
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Jan 2008
Schnapp Batteries (1951, Netanya)
Lead-acid batteries manufacturer
$994k $100M 16.27 TLV:SHNP
Nov 2007
JNS Holdings (1983, Wheeling)
Operator and Installer of EV Charging stations
$1.3M JNSH
Dec 2006
Kandi Technologies (2005, Jinhua)
$274M $129M NASDAQ:KNDI
Aug 2005
New Flyer Industries (1930, Winnipeg)
Manufacturer of heavy-duty transit buses
$2.9B $167M $2.3B 18.08 TSE:NFI
Jan 2003
Valence (1989, Austin)
Develops lithium batteries
OTC:VLNCQ
Jan 2002
Vmoto (2002, Perth)
Two-wheeler electric vehicles manufacturer
$8.6M $3.6M $26.6M ASX:VMT
May 2001
Thunder Power (1987, Taipei)
$1.8M TPE:4529
Mar 2001
Pihsiang Machinery (1983, Hsinchu)
Electric vehicles for diffrently abled and elderly
$109M $49.5M TPE:1729
Feb 1999
China Dynamics (1996, Hong Kong)
Energy conglomerate with business in mining, EV and Batteries
HKG:476
Jul 1998
Torotrak (1997, Leyland)
Automotive transmission products based on toroidal variator
technology
$8.1k $1.8M LON:TRK

94
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Mar 1998
Zap (1994, Santa Rosa)
Creator of Advanced Technology Vehicles
$10.8M OTCBB:ZAPP
Mar 1992
UQM Technologies (1967, Longmont)
Manufacturer of motors, generators and power electronic controllers
for transportation industry
$5.3M AMEX:UQM
Sep 1987
Polaris Industries (1954, Medina)
Automotive manufacturing company
$7.4B $4.5B 33 NYSE:PII
BYD (1995, Shenzhen)
Vertically integrated solution provider for green energy technologies
Titans (1992, Zhuhai)
Electric vehicle charging solutions
Northvolt (2015, Stockholm)
Lithium-Ion battery developers for Electric Vehicles
Blink Charging (San Jose)
Electric vehicle charging sevices
Moller International (1983, Dixon)
Vertical take-off and landing (VTOL) vehicles
Ankai (1997, Hefei)
Large, medium and light electric and hybrid buses
Electrovaya (1997, Mississauga)
Manufactures Li-Ion polymer batteries

95
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Topband (1996, Shenzhen)
Battery components for heavy duty electric vehicles and energy
storage solutions
FDG Electric Vehicles (1990, Hong Kong)
Commercial electric vehicle manufacturer
Leo Motors (2007, Seoul)
Cartridge batteries for electric vehicles
Clean Motion (2010, Lerum)
Three-wheeled electric vehicle for personal short distance commute
$491k STO:CLEMO
Energica Motor Company (2010, Modena)
All-electric motorcycle manufacturer
Electric Tractor (2010, Niagara-on-the-lake)
Electric tractors for agriculture applications
Hybricon Bus System (2013, Holmsund)
Electric buses and electric vehicle charging systems

Notable Acquisitions (1/2)
96
Notable Acquisitions in Electric Vehicles
Electric Vehicles > Exit Outlook > Notable Acquisitions
2017
Acquirer: Danfoss
Acquirer: Cummins
Brammo (2002, Ashland, $82M)
Electric Vehicle components manufacturer
Acquirer: Shell Global
NewMotion (2009, Amsterdam, $18M)
Acquirer: DEUTZ
Torqeedo (2005, Starnberg, $14.2M)
Developer of electric motors and batteries for boats
Acquirer: BorgWarner Deal: $200M
Sevcon (1961, Gateshead)
Developer of power electronics for electric vehicles
Acquirer: O Luxe Holdings Deal: $115M
GLM (2010, Kyoto, $21M)
2016
Acquirer: ZAPI
2015
Acquirer: Dyson Deal: $90M
Sakti3 (2007, Ann Arbor, $47M)
Lithium Ion Battery Producer
Acquirer: Wanxiang America
A123 Systems (2001, Westborough, $251M)
Lithum based battery based on nanophosphate
electrode technology
Acquirer: Ninebot
robots

Notable Acquisitions (2/2)
97
Notable Acquisitions in Electric Vehicles
Electric Vehicles > Exit Outlook > Notable Acquisitions
2012
Acquirer: TQ Group
Clean Mobile (2006, Munich, $25M)
Electric Drive Trains for LEVs

Most Active Acquirers
98
Electric Vehicles > Exit Outlook > Most Active Acquirers

Tracxn - Electric Vehicles Startup Landscape

Tracxn - Electric Vehicles Startup Landscape

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