A recent study showed a significant decline in consumer consideration for electric vehicles, marking a troubling trend for the struggling EV industry.
Lucid Motors posted staggering losses of $790 million in Q2, translating to a loss of $333,000 per vehicle sold, raising questions about their sustainability.
Despite financial support from Saudi Arabia, Lucid’s future remains uncertain as its stock price continues to plummet, casting doubt on its viability in the market.
Rivian has a slightly better outlook given some backing from established automakers, yet the overall picture for smaller EV companies remains grim.
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