tldrdaily.news logo
Tag

Ev Startup

All articles tagged with #ev startup

business7 months ago

Affordable Electric Trucks: The New Wave of Budget-Friendly EVs in the U.S.

Slate Auto, an EV startup backed by Jeff Bezos, is developing a modular, stripped-down electric pickup truck with a focus on affordability and simplified manufacturing, currently in beta production in Michigan, with plans for mass production in Indiana. Despite innovative ideas and significant reservations, the company faces challenges including market demand, competition, and scaling production, as it aims to deliver affordable EVs with minimal features and high customization options.

via CNBC|
#business#electric-vehicles#ev-startup
business1 year ago

Fisker's Rescue Funds at Risk as Deal Talks with Automaker End

Fisker's negotiations with a large automaker, suspected to be Nissan, for investment and collaboration have been terminated, jeopardizing a potential $150 million convertible note. The EV startup has faced challenges with underperforming sales, quality issues, layoffs, and a dwindling cash reserve. Fisker is now exploring alternative strategic options, including potential tie-ups with other companies, restructuring, and financial transactions.

via TechCrunch|
#business#ev-startup#financial-struggles
business-automotive1 year ago

"Fisker's Going Concern Doubts Spark Share Plunge"

Electric vehicle startup Fisker has raised doubts about its ability to continue as a going concern, leading to a 35% plunge in its shares. The company plans to cut its workforce by 15% and is in talks with a large automaker for a potential investment and joint development partnership, while also discussing a potential investment with a debt holder. Fisker's struggles to sell its flagship Ocean electric SUV have led to insufficient resources to cover the next 12 months, and without additional financing, it may be forced to reduce production, decrease investments, scale back operations, and cut more jobs. The company's CEO cited challenges in 2023, including delays with suppliers, and the company has been in talks with automakers for a partnership to secure additional production capacity.

via Reuters|
#business-automotive#ev-startup#fisker
technology2 years ago

"Flexport Partners with Shopify, Amazon's Investment Focus, and Kia's EV9 Unveiled"

Flexport secures a $260 million investment from Shopify, while former Lordstown Motors founder Steve Burns launches a new EV startup called LandX Motors. Other notable funding deals include Electra, International Battery Company, Land Moto, and Lightship. In the world of electric vehicles, Fisker's Ocean SUV is under investigation, GM recalls electric delivery vans, and Kia's new EV9 SUV receives mixed reviews for its driving experience and interior design. Amazon's Industrial Innovation Fund is expanding its focus to Asia and Europe, and Uber shuts down alcohol delivery service Drizly. Wing, the drone-powered delivery company, plans to introduce a larger craft for heavier packages, and TuSimple will delist itself from the Nasdaq stock exchange as it exits the U.S. market.

via TechCrunch|
#amazon#ev-startup#flexport
business2 years ago

XPeng Stock Plummets as Earnings Fall Short and Losses Mount

XPeng, a Chinese electric vehicle (EV) startup, is set to report its second-quarter earnings amid concerns about the Chinese economy and recent price cuts by Tesla. The company's outlook for deliveries will be closely watched, as it aims to challenge Tesla in China. XPeng recently announced a partnership with Volkswagen to produce VW-branded EVs. Analysts expect XPeng to narrow its losses and report a decline in revenue for the second quarter. The company is expected to share its delivery and revenue outlook for the current quarter. XPeng stock rallied after a string of down days, but concerns about a China slowdown may impact its future growth.

via Investor's Business Daily|
#business#china#earnings-report
business2 years ago

Nikola's Q2 Deliveries Surge, Boosting Investor Confidence

Electric vehicle startup Nikola reported a significant increase in second-quarter deliveries, with retail sales of its trucks doubling to 66 and wholesale figures rising to 45. This positive development comes as Nikola faces financial challenges and intense competition in the market. The company's shares rose nearly 3% in morning trading, despite recent news of its decision to liquidate assets of battery maker Romeo Power. Nikola, like other smaller EV firms, has been grappling with cash constraints and supply chain issues, leading to production delays and cost-cutting measures.

via Yahoo Finance|
#business#competition#ev-startup
business2 years ago

Lordstown Motors Faces Uncertain Future Amid Production and Financial Woes

Lordstown Motors, the embattled EV startup, expects to end production of its Endurance pickup truck "in the near future" as it runs out of cash and seeks additional capital. The company said it may go bankrupt if a previously announced deal with contract manufacturer Foxconn falls through. Lordstown's net loss widened to $171.1 million in the first quarter, compared with a loss of $89.6 million a year earlier. The company said it had cash and cash equivalents of just $108.1 million as of March 31, down 11% to begin the year.

via CNBC|
#bankruptcy#business#endurance-pickup-truck
electric-vehicles2 years ago

Canoo secures Oklahoma manufacturing facility for EV production.

Canoo has signed a long-term lease with AFV Partners to use its vehicle manufacturing facility in Oklahoma City, where it will operate a full and final assembly line for its flagship Lifestyle Vehicles (LVs). The newly leased site will help Canoo employ over 500 Oklahomans who will operate the startup’s full and final assembly lines, body shop, paint shop, quality control, and vehicle testing/validation. Canoo continues to explore diversified funding sources to stay afloat and achieve long-promised scaled production in Oklahoma.

via Electrek|
#canoo#electric-vehicles#ev-startup