Investors like Amazon and BlackRock are betting these 10 EV startups have the best chance of becoming the next Tesla

* Tesla's soaring stock price has amplified the excitement around electric vehicles (EVs), leading to IPOs and fresh rounds of funding for startups that hope to replicate Tesla's success. * But investors have been placing their bets on the next generation of EV startups for years, pouring, in some cases, billions of dollars into companies that say their vehicles will set new benchmarks in the auto industry. * Below are the 10 electric-vehicle startups that have received the most money, according to Pitchbook. * While Nio has raised more money than many of the startups on this list, it was excluded since it went public and started making vehicles in 2018. * Visit Business Insider's homepage for more stories. SEE ALSO: The quirkiest vintage gas stations you can still visit on a road trip, from a photographer who spent 40 years documenting whimsical roadside attractions across the US 10. Canoo * Total capital raised: $1 billion * Most recent valuation: N/A 9. Lucid Motors * Total capital raised: $1.2 billion * Most recent valuation: N/A since 2009 8. Singulato Motors * Total capital raised: $1.2 billion * Most recent valuation: N/A 7. Byton * Total capital raised: $1.2 billion * Most recent valuation: N/A Byton announced a six-month pause of its operations in June. 6. Youxia Motors * Total capital raised: $1.3 billion * Most recent valuation: $1.9 billion 5. Li Auto * Total capital raised: $2 billion * Most recent valuation: $4.1 billion 4. Xpeng * Total capital raised: $4.1 billion * Most recent valuation: $4 billion 3. Faraday Future * Total capital raised: $4.4 billion * Most recent valuation: $4.4 billion 2. WM Motor * Total capital raised: $5 billion * Most recent valuation: N/A 1. Rivian * Total capital raised: $6 billion * Most recent valuation: N/A * Read more: * The CEO of Lucid Motors reveals the important lesson his former boss Elon Musk taught him about leadership * The CEO of EV startup Rivian explains why he thinks it will beat Audi, Mercedes-Benz, and BMW with its first 2 electric vehicles * Tesla, Nikola, Rivian, GM, and more are set for a battle over the huge new demand for electric trucks, buses, and vans * Trump says he personally urged Elon Musk to build Tesla's new $1 billion factory in Texas
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PayPal parts with top advertising executive after shifting its marketing strategy during the pandemic

* PayPal's chief creative officer Steve Simpson, its top advertising executive, left the company after about a year. * The move came after PayPal shifted its marketing strategy during the coronavirus pandemic, placing less emphasis on the brand and more on catering to small businesses, said a source with direct knowledge of the marketing operation. * Simpson's departure followed that of CMO and former Apple executive Allison Johnson in May. Both "decided to leave PayPal" as the company streamlines its global marketing functions, according to a PayPal spokeswoman. * Visit Business Insider's homepage for more stories. PayPal's highest-ranking ad executive Steve Simpson left earlier this month after just over a year as part of a restructuring of its global marketing business. Simpson, who was chief creative officer, was hired to make high-minded ad campaigns to help PayPal stand out from competitors like Square, Stripe, and Apple Pay. But this strategy chan...

TikTok confirms it will sue the US government, alleging Trump failed to provide 'due process' before issuing ban

* TikTok confirmed Saturday that the company planned to sue the US government over President Donald Trump's executive orders targeting the popular app. * A company spokesperson said TikTok experienced "a lack of due process as the administration paid no attention to facts and tried to insert itself into negotiations between private businesses." * TikTok, which has surged in popularity over the past year, was known as Musical.ly until it was purchased by the Chinese company ByteDance in 2017 and renamed. * The president on August 6 and August 14 signed executive orders targeting TikTok. * Visit Business Insider's homepage for more stories. TikTok on Saturday announced it plans to sue the US government over President Donald Trump's executive orders pertaining to its ownership, arguing the company was deprived of its due process rights. The president, who began targeting TikTok in July, issued an executive order August 6 making it illegal for American compani...

A pair of former champions headline UFC Fight Night: Munhoz vs Edgar — How to watch

* UFC Fight Night: Munhoz vs Edgar will be streamed live on August 22, exclusively through the ESPN+ streaming service. * In the main event, former UFC Lightweight champion Frankie Edgar will make his debut in the bantamweight division in the 27th match of his UFC career. * With 13 career wins by knockout or submission, 5th ranked Pedro Munhoz is the former Resurrection Fighting Alliance bantamweight champion and one of the UFC division's most formidible fighters. * Prelims are set to start at 6 p.m. ET and the main card is scheduled to begin at 8:30 p.m. ET. * Every UFC Fight Night event is included with an ESPN+ subscription, which costs $6.99 per month or $49.99 per year. Product Card Module: Monthly Subscription Service Card size: small Former UFC lightweight champion Frankie Edgar will make his bantamweight debut against #5 ranked Pedro Munhoz in the main event of UFC Fight Night: Munhoz vs Edgar on August 22. Munhoz has dominated opponents in his 18 career wins...

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