Lucid denies it is preparing to file bankruptcy but the company is clearly in trouble. And that raises new concerns about a handful of other battery-electric brands, like Rivian and Slate still hoping to find their own niches. Only a few years ago a flood of EV start-ups seemed ready to kick the established automakers to the curb. What went wrong? Just about everything.
Sales have never lived up to expectation for the Ford F-150 Lightning, one of the market’s first all-electric pickups. The automaker idled production last month due to a shortage of aluminum and officials there reportedly are considering whether to scrap the nameplate entirely. Headlight.News has more.
Starting a new car company from ground up has never been easy and the terrain is littered with recent failures like Canoo and Fisker. But one brand, in particular, seems poised for success. Rivian has earned kudos for its first generation of rugged EVs, with more in the pipeline. Headlight.News recently got a chance to get back into the updated Rivian R1S SUV for a week and has this review.
With its quirky rounded exterior, Canoo caught the attention of plenty of potential electric vehicle buyers. However, the looks weren’t enough to translate to sales and profits. Canoo filed Chapter 7 bankruptcy. Get details at Headlight.News.
With its losses mounting and stock price tumbling, Canoo appears to be the latest EV start-up to face the threat of collapse. The company furloughed 30 employees at its factory in Oklahoma, even as two more of its top executives resigned.