EV manufacturer Fisker filed for bankruptcy due to cash flow and manufacturing issues. Other EV makers like Tesla, Rivian, and Lucid may also face challenges.
Tesla Inc (NASDAQ: TSLA) got the lead on the EV front as a pioneer with Elon Musk’s visionary leadership. But regulatory challenges, competition and an unfavorable macroeconomic environment made the ambitious Tesla focus on making an affordable vehicle while autonomous driving remains work in progress.
With the EV adoption in the U.S. being slower than anticipated, General Motors (NYSE: GM) revised this year’s expected EV sales and production, while being launching its newest EVs, including its new entry-level Chevrolet Equinox EV.