Electric-vehicle startups promise record-setting revenue growth

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Electric-vehicle startups promise record-setting revenue growth

March 17, 2021 Anand Gupta

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March 17, 2021 Anand Gupta

Companies with little revenue today project explosive growth in short time; some investors are skeptical

It took Google eight years to reach $10 billion in sales, the fastest ever for a U.S. startup. In the current SPAC frenzy, a spate of electric-vehicle companies planning listings are vowing to beat its record—in some cases by several years.

Among the most ambitious are luxury-car maker Faraday Future, U.K.-based electric-van and bus maker Arrival Group, and auto maker Fisker Inc. Each has disclosed plans to surpass the $10 billion revenue mark within three years of launching sales and production.