Here’s how auto startups are getting the cash to challenge Big Three carmakers

Not since the early 20th century have there been so many startups in the U.S. auto industry.Add Phoenix, Ariz.-based Atlis Motor Vehicles to a growing list of electric-vehicle startups across the United States — Rivian Automotive, Nikola Corp., Lordstown Motors Corp. and Bollinger Motors among them — seeking to make their marks. The surge in 21st-century startups is inspired by the meteoric success of Silicon Valley EV-maker Tesla Inc. as well as government regulations that for the first time mandate the powertrains automakers must use.Upstart automaker Atlis Motor Vehicles is betting its Atli…

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