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And another EV start-up bites the dust.
It's ruthless out there.
Wonder who's next?

https://cleantechnica.com/2025/01/20/ca ... whos-next/

Next could be Rivian (possibly Aptera). Rivian's losses keep mounting, and sales of their PU have dropped off significantly with the launch of the Cybertruck.

I think Lucid is safe, but purely because of the cash injections from the Saudi PIF. If those stop, it will go bust in about 1yr. They've been losing a lot of money for 17yrs now.

And BYD are yet again, ramping up the price war in the Asian and Oceania regions, so that could (or will) reduce the number of new(ish) companies there. China appears to be a bloodbath, not just new EV companies dying, but 1,000's and 1,000's of dealerships too, as the new energy vehicle market evolves.

...... and then there's legacy auto, going through hell, and no idea what to do.

This decade will be brutal, perhaps a repeat of the early decades of the 20th Century, with 100's of car start up consolidating, such as General Motors.

Rivian could just get bought by VW I think - maybe they’ll wait till they’re on the verge of collapse and pick them up cheap?

dan_b wrote: ↑Tue Jan 21, 2025 10:03 am Rivian could just get bought by VW I think - maybe they’ll wait till they’re on the verge of collapse and pick them up cheap?

Good idea Dan, that could really help VWG. Rivian market cap now $15bn, has been half that, but the VW deal helped them. Drop in the ocean for VWG who regularly trade places with Toyota for most indebted company (of any type) in the World*, at ~$200bn. But much of that debt is linked to car leases.

*Recent new entrant to the debt podium is the Chinese property company Evergrande, which is somewhere north of $300bn.

VW has a vested interest in Rivian as their own in-house EV software development arm Cariad seems to have utterly stuffed up and VW has partnered with Rivian to help it develop its software.

I quite want to obtain one of the two trial vans they had with royal mail. Anyone with contacts please DM me.