3 min read.Updated: 25 May 2022, 10:45 PM ISTAnjani Trivedi
All the big money that went in does not show on the world’s streets
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It’s about time investors were hit with the reality about electric vehicle startups. But what do tanking shares mean for hyped cheap capital-funded EV makers that took the market by storm last year? Stocks of EV upstarts, from US-listed Chinese firms such as Nio, Xpeng and Li Auto to their American peers Rivian Automotive and Lordstown Motors, have lost their sheen in recent weeks, exacerbated by a broader turn in sentiment and rising rates. Turns out that making fancy future-forward cars is kind of hard.