Several startup firms are vying for success in the electric vehicle market as the automotive industry adopts

They seem to be suffering, however, and many observers are unsure whether they will survive despite

Younger EV manufacturers like Rivian, Fisker, and Lucid, whose values spiked after going public

Only time will tell whether they will be able to cling on as their cash reserves quickly deplete as their shares 

Rivian manufactured 24,337 automobiles in 2017, barely short of its 25,000 target. 

The $663 million in sales the Irvine-based EV firm posted for Q4 2022 was unable to make up for its $1.72 billion net loss.

Rivian anticipates producing 53,000 automobiles in 2023, which is a twofold increase over 2018.

With $12.1 billion remained in its bank account, the electric vehicle hopeful still has some breathing space

but at the present burn rate, the business will probably run out of money by the end of 2025.

According to The Washington Post, Fisker, Rivian, and Lucid saw quick growth when they initially entered 

 the EV market, but the value of their businesses has now fallen by as much as 75%.

Startups seldom turn a profit in their first few years of operation, but given that it took Tesla

Thank You For Watching and share It