Automotive

EVs Have Ups and Downs

EVs are here for a while, but some startups are gone before you know it.
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EVs Have Ups and Downs

🤖 🚙Chinese automakers are looking to increase their market share in their backyard and abroad. The 21.5M passenger cars sold in China last year nearly equal the combined sales in the US, EU, and Japan. While battery range has been the battlefield of choice, Chinese EV companies are focusing on assisted driving as the primary draw for future consumers. 

🚚 🙁Electric Last Mile Solutions is a Michigan-based EV startup calling it quits. The company announced plans to file Chapter 7 bankruptcy just a year after going public. The announcement follows the departure of the company's CEO in February and efforts to focus on core business in a layoff of 24% of its staff. 

🎉 🏆Fisker's new Ocean EV has surpassed 50K reservations. The company says they cannot guarantee each reservation will become a sale, but at $250 per reservation, the interest in the brand is apparent.

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