Tuesday, May 24, 2022
News EV Startups Like Karma And Fisker Are The Current Next Big Thing,...

EV Startups Like Karma And Fisker Are The Current Next Big Thing, And Are Landing Big Investments

With Tesla leading the way, investors are keen to hand over big money to EV startups.


  • Karma was very recently considering Chapter 11 bankruptcy but now has new funding.

  • Fisker has raised an extra $50 million to keep its project going.

  • Investors are looking for the next Tesla.


Only two weeks ago, Karma was thinking about cleaning slate and trying again. Fisker, on the other hand, went quiet after CES earlier this year. But now, both are back in the saddle with fresh and considerable cash injections.

Karma Automotive Nearing The Possibility Of Filing For Chapter 11 Insolvency

Tesla has been on quite a roll of late. If you’ve not read the news recently, they’ve become, on “paper”, the most valuable automotive company in the world. And this, despite its sales volume is a fraction of the #2 car builder, Toyota.

Tesla Is The World’s Most Valuable Carmaker After Overtaking Toyota

And this is in large part the motivation behind investors being ready and willing to hand over big dollars as there’s a good chance money can be made. Fisker, who revealed their interesting electric Ocean SUV at CES a few months ago, has just secured $50 million, according to Automotive News, to help bring it to market as planned, in 2022.

Fisker Ocean – Fisker

As for Karma, Automotive News also shares that they’ve received $100 million, from outside investors, in new financing to keep their projects afloat. They are actively seeking an extra $300 million and they’re likely to find it.

Other startups like Nikola, Rivian, and Lordstown are all, well, on fire. And all are looking to feed a market that will increasingly seek out EVs, and in many cases, commercial and light-duty trucks.

The Nikola Badger Electrified Pickup Truck Will Quench Your Thirst

For many, this is a bubble that may very well burst before long (some market strategists think it will happen to Tesla) but in the meantime, we’re sitting back and enjoying the show.

Lordstown Endurance
Lordstown Endurance | Photo: Lordstown Motors

Rivian R1T
Rivian R1T | Photo: Rivian

Tesla Cybertruck
Tesla Cybertruck | Photo: Tesla

Trending Now

Mercedes-Benz Teased the 2023 EQE SUV

The electric SUV will be launched later in the year and AMG versions are likely to follow early in 2023 This SUV will...

The Mercedes-AMG GT63 S E Performance Adds an F1 Edition

This special edition commemorates the relationship between AMG and the Mercedes F1 team The hybrid drivetrain that powers it is a result of...

The Chevrolet Tahoe and Suburban Receive Super Cruise and a New Grille for 2023

Super Cruise will be available in the Premier and High-Country trim levels for the first time A new Grille can be had as...

Cadillac wants to Make its Celestiq Electric Sedan as Customisable as a Bentley or a Rolls Royce

Cadillac wants to target Bentley’s Mulliner and Rolls Royce’s Bespoke programs This means that almost any combination of colours and materials will be...

Sales of the 2023 Genesis GV60 Begin Today in the United States

The Genesis GV60 is the first electric model from the brand It shares its mechanicals and its 800-volt architecture with the Hyundai Ioniq...
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.