Amid the recent flurry of interest in electric vehicles, several new EV companies have been in the news, including Nio (NYSE: NIO) and Lordstown Motors (NASDAQ: RIDE). Nio just published its second-quarter 2021 earnings on Aug. 11, while Lordstown recently gained the conditional backing of a hedge fund. Up to this point, Nio has been producing a few thousand cars per quarter but has a market cap over $74 billion.