Both legacy automakers and startups are focused on the electric vehicle space, which brought in record amounts of capital commitments and private investment last year.

Venture-backed startups in the EV space raised upward of $20 billion in 2021, more than double the nearly $10 billion raised by companies in the sector in 2020. That’s after auto giants like Ford and GM announced plans to commit billions to EVs over the next several years, which means acquisitions, partnerships and other activity in the sector is expected to pick up. READ MORE