How Startups Are Racing to Supply a $360 Billion Battery Market

  • Batteries are key to automakers as they electrify their lineups over the next several years.
  • The battery industry is full of opportunities, from new technologies to supply to recycling.
  • Here’s a look at the many startups racing to lead in the battery space.

The future of the auto industry hinges, now more than ever, on batteries.

Batteries are critical to the multi-billion-dollar plans to create electric vehicle lineups over the next several years. They’re critical as automakers seek to differentiate themselves and their offerings from one another. And they’re a critical factor as the industry seeks to put its gas-guzzling, carbon-emitting past behind — if they can be developed in efficient, cost-effective, and environmentally sustainable ways.

The EV battery market is so important, it could hit at least $360 billion by 2030, according to McKinsey.

At Insider, we’ve looked at white-hot EV battery technologies. We’ve investigated how automakers are securing enough battery supply. And we’ve talked to startups working to recycle these batteries well after they’re spent.

Below, you can read more about battery startups to watch, the battery metal shortages the industry is facing, and how automakers are navigating this important part of their business. You can also read more on the types of battery technologies that are winning in the industry.

Startups to watch

Automakers and nascent EV manufacturers are relying on dozens of outfits in the battery space to help them out.

As a result, new startups are emerging to tackle various bits of the battery chain, from supply to new chemistries to recycling. And these companies are bringing in a ton of capital these days, too.


The booming electric car battery business saw $3.6 billion in VC last year. Meet 14 of the industry’s best-funded startups — and how they plan to juice players like Rivian and GM.

Giants like Tesla, GM, and Ford are going to be desperate for EV materials in the next decade. The 4 startups are betting they can cash in by recycling old batteries into new ones.

Investors bet big on 11 electric-car companies in 2021. Here’s what those deals signal for 2022.

Slow charge times are driving away potential electric car buyers. These 5 startups are creating the fast charging batteries that could win them over.

6 top startups propelling the electric car boom with new alternatives to expensive lithium-ion batteries

5 EV battery startups poised to challenge Panasonic and LG Chem for dominance of a $129 billion market

Lithium Americas

Securing enough supply of EV battery materials, especially lithium, is top of mind for auto executives. Startup Lithium Americas could help.

Lithium Americas


The crisis in Ukraine shed a light on the impact that a shortage of a key battery metal — nickel — could have on the auto business.

But cobalt and lithium have long been a pending crisis for the industry, too. Securing enough supply of these materials, especially lithium, is top of mind for auto executives. These execs need massive amounts of materials at the right price that can be secured in an environmentally- and financially-responsible way.

It’s no easy task, and they need to do all they can to get this part of the EV supply chain right.


Booming electric-car production is creating a mad dash for lithium. Meet 13 startups angling to cash in on a supply-chain weak link that may soon be worth $34.3 billion.

Spiking nickel prices could add $2,000 to the cost of every electric car — and the pain may hit Rivian and Lucid way harder than Ford and GM

Battery makers are crucial to automakers transitioning to electric vehicles. Check out the 10-page pitch deck that persuaded Renault to back one startup’s $119 million round.

A Rivian vehicle battery pack on the floor of its manufacturing plant in Normal Illinois

The CEO of Rivian, for example, has warned the looming battery shortage will make the chip shortage feel like it’s “a small appetizer.”


How automakers are navigating the business

Automakers across the globe are betting their entire futures on electric products. But that future faces a threat with the pending EV battery supply shortage.

Some are pursuing partnerships to secure enough supply. Some are making huge investments in the space. Some think their approach to batteries could help them surpass range records to date. And some worry the impact of these shortages will only get worse.


Rivian CEO warns the looming EV battery shortage will make the chip shortage feel like ‘a small appetizer’ for what’s to come

Elon Musk said he isn’t working on the $25,000 electric car right now. That means rival Lucid might beat Tesla to it.

Lucid’s CEO reveals how his startup walloped Tesla in the EV range wars: ‘It’s almost nothing to do with the battery’

Wide battery swapping

Startup Ample says its battery tech could solve Uber’s biggest electric car challenge.


Specific battery technologies

Range anxiety is just one of the reasons customers are hesitant to go electric. But a battery’s chemistry and technology can help bolster range, performance, and even vehicle safety. So startups in the space are experimenting with the best tech that can give their product — and their customers — a leg up.

From solid state makeups to battery swapping to technology that claims to double a Tesla’s range, startups are pursuing every way to get a competitive advantage in the business.


Read the 11-slide pitch deck startup Liminal used to scoop up $8 million to help electric car makers avoid costly battery recalls — and get ahead of Tesla

A startup that says it cracked the code on electric car batteries is poised to help automakers master a nasty challenge: a snarled supply chain

Uber’s biggest electric car problem could be solved by the startup that’s gotten $50 million from Blackstone this year

A Michigan startup doubled a Tesla’s range by customizing it with a special battery

How solid-state batteries can unseat lithium-ion, according to an exec at a startup backed by Ford and BMW

A top battery startup just tapped a Tesla veteran to lead manufacturing. Here’s her plan for her to dominate EVs.

Startup cofounders reveal their plan to solve the EV industry’s crucial cost problem by remaking the lithium-ion battery

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