American startups have difficulties to achieve their goals
The American star-ups American producing battery electric cars are all experiencing significant financial difficulties today due to sales that are far too low compared to their expectations.
1. Fisker: the Californian carmaker which would like to be Tesla's rival would have delivered only 5,000 battery electric cars for a production of 10,000 units. Fisker, which is facing difficulties to find new investors, plans to lay off 15% of its workforce.The company's salvation could come through a partnership with a large carmaker. But so far, none have come forward.Fiskerhopes to be able to sell 20,000 battery electric cars worldwide in 2024.
2. Lucid:the American carmaker which markets the Air sedan is also experiencing financial difficulties, having overestimated its sales potential in a Amercian BEV market which is less dynamic than expected and which is plagued by a price war initiated in particular by Tesla and Chinese carmakers. Lucid sold 6,000 battery electric cars in 2023 while the carmaker initially expected 20,000 units. Lucid has decided to lay off 18% of its workforce (i.e. 1,300 people). The carmaker hopes to be able to sell 10,000 battery electric cars worldwide in 2024.
3. Rivian:Like Fisker and Lucid, the carmaker Rivian is experiencing significant financial difficulties. Despite the sale of 50,000 battery electric cars in 2023, Rivian has incurred a lot of debt due to an overestimated market and is revising its forecasts downward for 2024, i.e. 50,000 global sales expected, compared to 100,000 initially forecasted.