The electric vehicle industry in the US is rapidly evolving, focusing on innovation and sustainability. It includes automakers, battery manufacturers, infrastructure providers, and tech firms pioneering advances in electric mobility. Major players, from traditional car manufacturers pivoting to electric vehicles to startups offering cutting-edge battery technologies, are competing to capture market share. The future points towards increased production of electric vehicles, bolstered by government support and consumer demand for greener transport options. With an expanding network of charging stations and improved battery technology, the industry is projected to make a significant environmental impact by reducing carbon footprints across the nation.


This list highlights thirteen key investors active in the electric vehicle sector in the US. The investors feature a blend of governmental bodies and venture capital firms, each contributing to advancing electric vehicle technology. Headquartered predominantly in California and Washington D.C., these firms vary in size from startup accelerators to corporate ventures. Founded between 1956 and 2023, they participated in a substantial number of deals in 2024, with significant investments fueling innovation in the rapidly growing electric vehicle market.


Top 13 Electric Vehicle Investors in the US


1. U.S. Department of Energy (DOE)

  • Website: energy.gov
  • Type: Corporate
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1977
  • Headcount: 10001+
  • Number of deals in 2024: 597
  • LinkedIn: u-s--department-of-energy

The United States Department of Energy (DOE) is a public entity established in 1977, responsible for overseeing national energy policy, energy production, and nuclear power research. It serves various stakeholders, including government entities and the public, by providing guidance on energy efficiency, funding opportunities, and conducting research to address energy challenges. In recent years, the DOE has been actively involved in the electric vehicle sector, providing substantial financial support through grants. Notably, the DOE facilitated a $500 million grant to General Motors in July 2024 and another grant of approximately $8 million in October 2024, both aimed at enhancing electric vehicle production and technology. Additionally, the DOE has supported BorgWarner with grants totaling over $8 million in 2021 and 2022, further emphasizing its commitment to advancing electric vehicle technology and infrastructure.


2. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that helps entrepreneurs launch and grow their businesses. Y Combinator has successfully launched over 4,000 startups, establishing itself as a key player in the technology startup ecosystem. Among its notable investments, Y Combinator has backed companies in the electric vehicle sector, including Genesis, which raised $52 million in a Series A funding round, and Olympian Motors, which secured funding in a Pre-Seed round. Other relevant transactions include Nimbus and Open Motors, which also focus on innovative transportation solutions. This diverse portfolio highlights Y Combinator's engagement with the electric vehicle industry, alongside its broader investment strategy.


3. Los Angeles Cleantech Incubator


The Los Angeles Cleantech Incubator (LACI) is a not-for-profit organization founded in 2011, dedicated to fostering an inclusive green economy by supporting cleantech startups. LACI provides various programs, including business acceleration and funding opportunities, with a focus on sustainable technologies and practices. Among its notable investments, LACI has participated in funding rounds for companies such as Maxwell Vehicles, which specializes in electric vehicle technology, and FreeWire Technologies, which raised $25 million in Series B funding for electric vehicle charging solutions. Additionally, LACI has invested in Evolectric and Plus Rides, both of which are involved in the electric vehicle space, further demonstrating its commitment to advancing the electric vehicle industry.


4. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. The fund has been actively involved in the electric vehicle sector, with notable investments including Lightship, which raised a total of $34 million in Series B funding in January 2024, and FreeWire Technologies, which secured $50 million in Series C funding in January 2021. These investments highlight the fund's commitment to supporting innovative companies in the electric vehicle industry, alongside its broader investment strategy.


5. Government of Canada

  • Website: canada.ca
  • Type: Corporate
  • Headquarters: Canada, Kentucky, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 137
  • LinkedIn: government-of-canada

The Government of Canada is a public entity that provides a wide range of services and information to Canadian citizens and residents. It addresses various needs including employment, immigration, health care, and taxation. The government operates through multiple departments and agencies to ensure access to essential services and support for individuals and businesses across the country. In recent years, the Government of Canada has also engaged in significant financial transactions aimed at supporting the electric vehicle industry. Notably, it provided a grant of $590 million to Ford Motor Company in 2020, which is a major player in the electric vehicle market. Additionally, in 2024, the Government granted $10.8 million to NFI Group, a company involved in electric buses, and $15 million to AVL, which focuses on automotive engineering and testing, including electric vehicles. Furthermore, a substantial grant of over $512 million was awarded to PowerCo, indicating a strong commitment to advancing electric vehicle infrastructure and technology.


6. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They specialize in connecting startups with corporations to drive growth and innovation across various technology sectors. In 2024, they have made 253 investments, showcasing their active role in the venture capital landscape. Notably, they have been involved in significant transactions within the electric vehicle context, particularly with Einride, a Swedish startup developing autonomous electric trucks. Einride has raised substantial funding, including a Series B round of $110 million in 2021 and a Series A round of $25 million in 2019, with Plug and Play's involvement in earlier funding rounds indicating their commitment to supporting electric vehicle innovation. Additionally, they have engaged with other companies like Zeleros, which is also relevant to the transportation and electric vehicle sector, further solidifying their position as an investor in this space.


7. Elemental Impact


Elemental Impact is a not-for-profit organization based in Honolulu, Hawaii, founded in 2012. Their mission is to scale climate technologies with a strong emphasis on community impact. They provide funding opportunities, community engagement strategies, and educational resources to support climate technology companies and local governments in deploying sustainable solutions. Notably, Elemental Impact has been involved in several transactions within the electric vehicle sector, including investments in Proterra, a company known for its electric buses, and Xos Trucks, which focuses on electric commercial vehicles. Additionally, they have supported FreeWire Technologies, which develops electric vehicle charging solutions. Through these investments, Elemental Impact demonstrates its commitment to fostering innovation in the electric vehicle industry while addressing the funding gap for early-stage climate projects.


8. Intel Capital

  • Website: intelcapital.com
  • Type: Venture Capital
  • Headquarters: Santa Clara, California, United States (USA)
  • Founded year: 1991
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: intelcapital

Intel Capital is a venture capital firm based in Santa Clara, California, founded in 1991. The firm specializes in investing in early-stage technology companies, with a focus on areas such as AI, cloud computing, and semiconductor technologies. In recent years, Intel Capital has expanded its portfolio to include investments in the electric vehicle sector. Notable transactions include a $500 million investment in Zeekr, a company dedicated to electric vehicles, and participation in funding rounds for WiTricity, which is developing wireless power solutions applicable to electric vehicles. These investments highlight Intel Capital's strategic approach to supporting innovation in the tech ecosystem while also recognizing the growing importance of electric vehicle technology.


9. Breakthrough Energy


Breakthrough Energy is a not-for-profit organization founded in 2015, based in Kirkland, Washington, dedicated to accelerating the transition to a net-zero economy. They support innovative technologies and advocate for policies that promote clean energy solutions. Their investment portfolio includes significant transactions in the electric vehicle context, such as their participation in funding rounds for Turntide Technologies, a sustainability technology provider that is expanding into the electric vehicle industry. They also invested in QuantumScape, a company focused on developing solid-state battery technology, which is crucial for the advancement of electric vehicles. Breakthrough Energy Ventures aims to provide funding, research support, and policy advocacy to businesses and organizations in the clean energy sector, making them a key player in the electric vehicle investment landscape.


10. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm based in New York, founded in 1998. It provides a wide range of services including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In the context of electric vehicles, Goldman Sachs has made notable investments, such as a $1.46 billion post-IPO equity investment in Tesla in 2016, which has been a leader in the electric vehicle market. Additionally, they participated in a Series D funding round for Rimac Group in 2022, which raised EUR 500 million to support innovation in manufacturing and production expansion in the electric vehicle space. Furthermore, Goldman Sachs has been involved in multiple funding rounds for Northvolt, a company focused on sustainable battery production, including a $1.2 billion convertible note in 2023 and a $2.75 billion venture round in 2021. These transactions highlight Goldman Sachs' active role in financing key players in the electric vehicle industry, reinforcing their relevance as an electric vehicle investor.


11. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, focused on private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to foster economic growth. Operating in over 100 countries, IFC addresses challenges of poverty and promotes sustainable development. In the context of electric vehicles, IFC has made significant investments, including a $36.4 million venture round in Mahindra Last Mile Mobility, which specializes in electric vehicles for urban transport. They also invested $8 million in Lithium Urban Technologies, a company that provides electric vehicle services. Furthermore, their participation in a $21 million Series C funding round for Ioxus, a manufacturer of ultracapacitor technology, highlights their commitment to advancing technologies that support electric vehicles. These transactions illustrate IFC's role in promoting sustainable transportation solutions.


12. Sosv

  • Website: sosv.com
  • Type: Venture Capital
  • Headquarters: United States (USA)
  • Founded year: 1995
  • Headcount: 51-200
  • Number of deals in 2024: 170
  • LinkedIn: sosv

Sosv is a venture capital firm founded in 1995, based in the United States, that specializes in funding and supporting deep tech startups through its development programs. With a focus on health and climate technology, Sosv operates globally, connecting innovative companies with investors. Among their notable transactions, they have invested in Solid Ox Motors, which is involved in electric vehicle technology, as well as other startups like Elwing and Tandem, which may also have implications in the electric mobility sector. Their diverse portfolio and active engagement in seed rounds demonstrate their commitment to fostering innovation in the electric vehicle industry.


13. Silicon Valley Bank

  • Website: svb.com
  • Type: Venture Capital
  • Headquarters: Santa Clara, California, United States (USA)
  • Founded year: 1983
  • Headcount: 5001-10000
  • Number of deals in 2024: 31
  • LinkedIn: silicon-valley-bank

Silicon Valley Bank is a commercial bank founded in 1983, located in Santa Clara, California, that specializes in providing financial services to the innovation economy, particularly tech startups and venture capital firms. They offer a range of products including business banking, global payments, and asset management, helping clients navigate financial challenges and support their growth. Notably, Silicon Valley Bank has made significant investments in the electric vehicle sector, including a $15 million venture round for Proterra, a leader in electric bus manufacturing, and a $25 million Series B investment in FreeWire Technologies, which develops electric vehicle charging solutions. Additionally, they have supported companies like Plug Power and Gridtential Energy, which are involved in energy solutions relevant to electric vehicles. This track record highlights their active role in fostering innovation within the electric vehicle industry.



Electric Vehicle Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
U.S. Department of Energy (DOE)Washington, D.C., District Of Columbia, United States (USA)10001+1977597
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
Los Angeles Cleantech IncubatorLos Angeles, California, United States (USA)51-20020112
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
Elemental ImpactHonolulu, Hawaii, United States (USA)51-200201219
Intel CapitalSanta Clara, California, United States (USA)11-50199123
Breakthrough EnergyKirkland, Washington, United States (USA)51-200201538
Goldman SachsNew York, New York, United States (USA)10001+199859
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
SosvUnited States (USA)51-2001995170
Silicon Valley BankSanta Clara, California, United States (USA)5001-10000198331


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