- 2020 was a great year for electric-vehicle startups looking for funding.
- But Arrival’s president told Insider he believes the EV industry will begin to consolidate in 2021.
- The gap between the strongest and weakest players will become bigger and clearer this year, he said.
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Funding for autonomous-vehicle startups has become concentrated in a smaller group of companies in recent years as auto and tech firms have made a series of acquisitions and investments. Last year, Amazon bought the robotaxi startup Zoox, while Hyundai formed a joint venture with automotive-tech company Aptiv.
The electric-vehicle industry is set to begin a similar process this year,…