Many EV startups face bankruptcy due to production delays, high costs, and struggling sales.

From Nasdaq: 2024-10-14 06:55:00

Zacks.com features Tesla, Canoo, Workhorse, Rivian, and Lucid in the Analyst Blog. While startups aimed to replicate Tesla’s success, many face bankruptcy due to production delays, high costs, and struggling sales. Major EV startups like Fisker, Arrival, Proterra, and Lordstown Motors have filed for bankruptcy, while others like Nikola and Faraday Future continue to struggle. Rivian and Lucid are not profitable but better off than their peers. Tesla faces a price war, slashing prices and eroding margins. The reality of the EV market has proven difficult for many startups, with traditional automakers intensifying competition.



Read more at Nasdaq: The Zacks Analyst Blog Highlights Tesla, Canoo, Workhorse, Rivian and Lucid