Former Tesla executives raise $26 billion for their new startups

Former Tesla executives, who witnessed the early struggles of the world’s most popular electric car brand, have raised more than $26 billion after leaving the company to develop their green energy start-ups.

More than 30 startups have been launched or led by former Tesla managers, and these companies have raised billions from investors in the past decade, according to a Wall Street Journal analysis based on data from PitchBook.

Executives who co-founded Tesla, worked on the first-ever electric car, the Tesla Roadster, or headed the production of the Model 3, which Elon Musk himself described as “production hell,” are currently working in startups in America and Europe. To develop battery manufacturing, battery recycling, luxury electric vehicles, and green hydrogen production

The experience in Tesla gave credibility to investors who are currently supporting startups. Some of these startups have them, including major investment banks and investors including Bill Gates, for example where partners include old car manufacturers such as “Volkswagen” and industry leaders in manufacturing operations such as Mitsubishi Heavy Industries.

All of these new companies are looking to strengthen America and Europe’s position in the supply chain for basic materials and battery components, which is currently dominated by China.

Notable examples of former Tesla executives turning to green businesses include Northvolt, the Swedish battery manufacturer co-founded by Peter Carlson, former vice president of Tesla Supply Chain, which has raised $8 billion so far to expand The scope of its business in the manufacture of batteries in Europe, as the company has a huge factory operating in Sweden – Northvolt Ett .