"That hard-earned reality check actually faces every EV startup today. Born in seemingly limitless EV promise, electric startups are struggling or foundering as the easy money dries up and automaking reality rears its head. From Lordstown Motors to Nikola and Faraday Future, once-starry-eyed companies are seeing market valuations evaporate as they struggle to ramp up production and secure funding in a brutal, inflationary economy. These plug-in newbies saw Tesla as their spirit guide. Yet instead of providing a template for followers, Tesla increasingly appears a one-off, a feat of automotive alchemy that can’t be neatly replicated.
On design, tech, and financial fronts, Lucid and Rivian remain the last best hope of the current crop of startups, already delivering winning designs and genuine innovations to showrooms. Yet even their ultimate success is far from assured. After early production snafus, Rivian says it is on track to build 50,000 R1Ss and R1Ts in 2023, a rare flicker of light in the current storm. But Rivian’s market cap has also fallen (as of this story’s publication) to $13.6 billion, a steep plunge from $153 billion shortly after its public debut in 2021. Lucid burned through more than $1 billion in first-quarter losses and delivered just 1,406 of its Air sedans. Beyond a deep-pocketed Lucid, owned by the Saudi sovereign wealth fund, and Rivian, backed in part by Amazon, the odds are getting longer."
Those words being uttered by the EXTREMELY progressive liberal writer (the majority today) have to be a hard pill to swallow.
Ulrich (NYTimes) and the rest of the zealot collective, INSTANTLY give validity to ANYTHING that pushes the AOC agenda. With extreme vigor. NONE of them will be satisfied until ICE products are 100% gone and they don't care how many people will suffer because it. They're getting flown all over the world for FREE to push it so why would they care anyway?
And even though writers like him have all the right check marks on their resumes, their zealousness clouds their ability to critically think through an issue and exercise common sense.
So let us net it out for you Lawrence in commoners terms...
THE IDEA THAT PEOPLE ARE DYING TO OWN EVS AND DEMAND IS ENDLESS IS BRAIN DEAD.
Until, there are new battery technologies, better charging experiences and MUCH lower prices, ev adoption will be stuck for a LONG time under 15%.
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