, Columnist
Is Anyone Actually Making Electric Vehicles?
Manufacturing future-forward cars is only getting harder as costs surge. It’s time for investors to face a brutal reality.
Haven’t seen to many of these on the roads.
Photographer: Odin Jaeger/BloombergThis article is for subscribers only.
It’s about time investors were hit with the reality about electric vehicle startups. But what do tanking shares mean for the much-hyped, cheap capital-sucking EV makers that took the market by storm last year?
Stocks of EV upstarts, from New York-listed, Chinese firms such as Nio Inc., Xpeng Inc. and Li Auto Inc. to their American peers Rivian Automotive Inc. and Lordstown Motors Corp., have lost their sheen in recent weeks, exacerbated by a broader turn in sentiment and rising rates. Turns out making fancy, future-forward cars is kind of hard.