Electric auto startups hit speed bumps after heady debuts


Several new electric vehicle manufacturers have hit snags, with the part forward not as optimistic as what was sold to investors. — REUTERS

Several electric auto startups that raised large sums from investors in the wake of Tesla's ascent are hitting potholes as they pursue next-generation vehicles.

The most recent crisis occurred at Lordstown Motors, which announced Monday the sudden departure of two top executives after warning last week it needed more capital to keep operating.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Shopper put phone under woman’s skirt, US cops say. Then police checked store video
Crypto fans count down to bitcoin's 'halving'
Fakebook? Meta blamed as online shopping fraud doubles in Singapore
Japan doctors sue Google Maps over ‘punching bag’ reviews
US Congress to take on TikTok ban bill – again
Cisco’s plan for keeping AI systems safe from attack: Using AI
Meta's newest AI model beats some peers. But its amped-up AI agents are confusing Facebook users
Google is combining its Android software and Pixel hardware divisions to more broadly integrate AI
Apple pulls WhatsApp from China app store on Beijing request
UK police say they disrupted cyber fraud network that stole personal data from thousands

Others Also Read