Tough day for BEV Manufacturers

[Mart]

Results for Lucid and Nikola are out, and share prices continue to tumble. It's almost as if mass production is hard, and Trevor Milton (ex CEO of Nikola) was telling porkies about the viability of HFCV's?

Good news, Rivian are doing OK. They are struggling, but they have a good product, just need to ramp up production and reduce costs, but they stand a better chance than the others. So many EV manufacturers are now finding the honeymoon period is over.

Lucid posts quarterly revenue well below estimates as EV price war hits demand

Nikola to pause truck production after posting bigger quarterly loss

[NikoV6]

FordE set to lose $3billion this year!

[Mart]

Yep, Ford's margin on BEV's is just over minus 100%. In that their reported losses are actually slightly more than the revenue they receive from the sales. So costs are roughly 2x revenue. Ouch!

But in fairness to Ford, they are the only one of legacy auto who are reporting their BEV figures separately to their ICE/PHEV division. Looks like they've bitten the bullet and realise this decade will be tough, so best to get on with it.

[dan_b]

See also

Lordstown Motors on the verge of bankruptcy
https://www.cnbc.com/2023/05/01/lordsto ... lters.html

Sono Motors sell-off
https://sonomotors.com/en/sion-sell-off/

Lightyear motors files for bankruptcy
https://sifted.eu/articles/lightyear-so ... uptcy-news

Bollinger Motors attempts to sue Munro for copyright infringement (both are in financial disarray)
https://techcrunch.com/2023/02/02/bolli ... n-UzCoIRdi

[NikoV6]

Prototypes are easy, production is........ hard!

[Joeboy]

See also

Lordstown Motors on the verge of bankruptcy
https://www.cnbc.com/2023/05/01/lordsto ... lters.html

Sono Motors sell-off
https://sonomotors.com/en/sion-sell-off/

Lightyear motors files for bankruptcy
https://sifted.eu/articles/lightyear-so ... uptcy-news

Bollinger Motors attempts to sue Munro for copyright infringement (both are in financial disarray)
https://techcrunch.com/2023/02/02/bolli ... n-UzCoIRdi

https://electrek.co/2023/04/19/buy-a-li ... ts-assets/

Glad I was unaware!
https://www.troostwijkauctions.com/uk/auction/01-46135/

[dan_b]

Fisker announces massive earnings miss (although they fail to mention that it's contract manufacturer Magna Steyr who is building the Ocean and it's they who are responsible for production ramp...)

https://www.teslarati.com/fisker-massiv ... s-q1-2023/

[Mr Gus]

& landrover is sueing them based on similarity to a design styling that has been running around the world sinc the 1950's in multiple forms...

Silly bollinger "unleash" both Land-rover & champagne merchants to tie the car manuf (well, on paper) into years of costly litigation.

Glass houses n'all that.

If we were to look for visible influences..
https://en.wikipedia.org/wiki/Land_Rover_series

[dan_b]

Faraday Future (Remember them!)
Raising another $100million in stock debt in order to try and get the FF91 into production. Question is will anyone want to buy them at this point?

https://www.reuters.com/business/autos- ... 023-05-10/