Electric Car Startups Struggling With Cash Burn Despite Rising EV Demand
By
Vitaliya Petrovich
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
The struggle for smaller US-based electric vehicle startups continues as they face financial pressure despite the anticipated record-breaking global sales of electric vehicles this year. The increased consumer demand for electric vehicles is not sufficient to alleviate the immediate financial challenges faced by these companies. The situation raises concerns about the sustainability of the EV startups, posing a significant obstacle ahead of 2024.