Nikola, along with fellow smaller EV companies like Lucid and Rivian, is facing increasing financial difficulties, reflected by its share price dropping below $1, signaling potential bankruptcy. The article highlights how established automakers such as Ford, GM, and Hyundai-Kia leverage stronger financial positions and dealer networks to secure their place in the industry. Meanwhile, Tesla continues to dominate, controlling approximately 50% of the U.S. EV market. The piece emphasizes the critical need for mass-market strategies for the survival of these smaller companies, urging investors to reconsider their focus on EV stocks.
With shares under $1, Nikola is risking bankruptcy, underscoring the larger difficulties smaller EV firms like Lucid and Rivian.
Mass-market tactics are absolutely vital for long-term survival in the EV industry, as seen with traditional manufacturers establishing strong positions.
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