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/
Canoo sinks
Canoo sinks
Tesla Model 3 Performance
Oversees an 11kWp solar array at work
Oversees an 11kWp solar array at work
Re: Canoo sinks
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.
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.
8.7kWp PV [2.12kWp SSW + 4.61kWp ESE PV + 2.0kWp WNW PV]
Two BEV's.
Two small A2A heatpumps.
20kWh Battery storage.
Two BEV's.
Two small A2A heatpumps.
20kWh Battery storage.
Re: Canoo sinks
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?
Tesla Model 3 Performance
Oversees an 11kWp solar array at work
Oversees an 11kWp solar array at work
Re: Canoo sinks
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.
8.7kWp PV [2.12kWp SSW + 4.61kWp ESE PV + 2.0kWp WNW PV]
Two BEV's.
Two small A2A heatpumps.
20kWh Battery storage.
Two BEV's.
Two small A2A heatpumps.
20kWh Battery storage.
Re: Canoo sinks
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.
Tesla Model 3 Performance
Oversees an 11kWp solar array at work
Oversees an 11kWp solar array at work
Re: Canoo sinks
I quite want to obtain one of the two trial vans they had with royal mail. Anyone with contacts please DM me.