Here's why so many electric vehicle startups fail

Key Facts

• As the electric vehicle industry faces a string of high-profile failures, several startups that have surfaced in recent years have underestimated their capital needs by billions of dollars, industry insiders said.
• “Tesla, outside of the Chinese, is kind of the first automaker to start in half a century,” said Mark Wakefield, managing director at AlixPartners.
• EVs made up 8% of U.S. new car sales that year — and their share of the market is set to grow despite slower-than-expected adoption.
• The most successful EV firms now — Tesla and China’s BYD — are highly vertically integrated, just like GM was when it ascended to the top of the industry.

Click To Read Full Article