“No one is making money except for Tesla and BYD in China,” said Louis Navellier, chair and chief investment officer at Navellier & Associates.
The bankruptcy of Lordstown Motors Corp. could herald further disruption in the electric-vehicle market, according to Louis Navellier, chair and chief investment officer at money-management firm Navellier & Associates.
On Tuesday, Lordstown Motors RIDE said it is filing for chapter 11 bankruptcy protection and suing former partner Foxconn. Last year, investment-research firm New Constructs added Rivian to its list of “zombie” companies, citing cash as a potential problem for the carmaker. Rivian’s stock has fallen 25.5% this year.Rivian is not alone when it comes to cash burn, according to Navellier. “Look at Lucid. Even with brilliant engineering, they are burning tons of money,” he said, but he acknowledged Lucid’s recent “reprieve” in the shape of a $1.8 billion stock purchase by the Saudi Public Investment Fund.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Lordstown Motors files for bankruptcy protection and sues FoxconnElectric vehicle maker Lordstown Motors on Tuesday filed for bankruptcy protection and said it's suing former partner Foxconn.
Weiterlesen »
Lordstown Motors Files For Bankruptcy, Sues Foxconn For 'Irreparable Harm' | CarscoopsLordstown claims Foxconn used its contracts to destroy its business and leverage its resources car auto cars
Weiterlesen »
EV Startup Lordstown, Once an Ohio Town’s Savior, Files for BankruptcyThe electric-truck maker was once cheered by investors during the SPAC boom and lauded by former President Donald Trump as a savior for a closed GM factory in Ohio.
Weiterlesen »
Lordstown Motors files for Chapter 11 bankruptcy protectionLordstown said Tuesday that it was also filing a lawsuit against a technology company for not living up to its commitments.
Weiterlesen »
Lordstown Motors files for Chapter 11 bankruptcy protectionElectric vehicle startup Lordstown Motors Corp. has filed for Chapter 11 bankruptcy protection nearly two months after it warned that it was in danger of failing.
Weiterlesen »
EV maker stocks rise in face of Lordstown bankruptcyThe bankruptcy of electric vehicle maker Lordstown Motors Corp. doesn’t appear to be scaring investors away from the stocks of other EV startups. Shares of...
Weiterlesen »