Electric Vehicle Startups Are Feeling the Power Drain
More US-based EV firms face a challenging 2024 as consumer demand wanes while they burn through cash
This article is for subscribers only.
Welcome to The Brink. I’m Jonathan Randles, a reporter in New York, where I’m looking at the struggles of electric vehicle start-ups in the US. We also have the latest on Rackspace, China Vanke and Signa. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net or DM on X to @sparkyrandles.
Global sales of electric vehicles are on track to hit a record this year, but that’s not enough to save some smaller US startups facing immediate financial pressure.