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This week’s earnings reports make two things clear about the viability of the electric vehicle future: EV-only companies are continuing to struggle and lose lots of money, and having wealthy investors who are willing to pour money into your money-losing operation is the difference between survival and bankruptcy.
Two of the big US-based EV-only companies — Rivian and Lucid — reported their second quarter earnings this week. Lo and behold, there’s still a lot of red ink being spilled. <...
