I don't think this surprises anyone here...
https://www.msn.com/en-ca/autos/news/lordstown-doesn-t-have-money-to-build-endurance-ev-pickup-top-execs-resign/ar-AAKQmiJ?ocid=msedgntp
They need Elon to step in and show them how to do it.
I really don't understand all these EV pickup startups.
Quote from: FoMoJo on June 14, 2021, 12:47:36 PM
They need Elon to step in and show them how to do it.
I really don't understand all these EV pickup startups.
They get $
Quote from: FoMoJo on June 14, 2021, 12:47:36 PM
They need Elon to step in and show them how to do it.
I really don't understand all these EV pickup startups.
EV is a hot commodity, and EV trucks are going to be a necessity in the "economy of the future".
Quote from: Submariner on June 14, 2021, 04:33:13 PM
EV is a hot commodity, and EV trucks are going to be a necessity in the "economy of the future".
Seems to me like the dot com market, all the little guys trying to come up with something that the big guys buy into...only on a less frenetic scale.
Not a surprise at all - they'll ALL fail if left to their own (retail) devices. The closest they're gonna get at viability is as a sole source provider (i.e., Amazon funding Rivian, USPS funding Oshkosh, etc.).
Quote from: FoMoJo on June 14, 2021, 12:47:36 PM
They need Elon to step in and show them how to do it.
No, that's the exact problem. Elon inspired all sorts of EV fraud (Lordstown, Nikola, Workforce, etc). When the regulators don't do their job, this is the end result.
Quote from: MrH on June 15, 2021, 07:22:24 AM
No, that's the exact problem. Elon inspired all sorts of EV fraud (Lordstown, Nikola, Workforce, etc). When the regulators don't do their job, this is the end result.
That's definitely part of it, but there's also a whole lot of pan and general irrational exuberance desperate for The Next Big Thing.
Quote from: GoCougs on June 15, 2021, 10:48:16 AM
That's definitely part of it, but there's also a whole lot of pan and general irrational exuberance desperate for The Next Big Thing.
Way too much dumb money sloshing around in the market.
Quote from: Laconian on June 15, 2021, 11:38:16 AM
Way too much dumb money sloshing around in the market.
The Juicero crowd is rotten with cash.
Checked in on the Elio Owners Group. Oh my, what a sad and lonely place. :lol:
Quote from: FoMoJo on June 14, 2021, 04:44:37 PM
Seems to me like the dot com market, all the little guys trying to come up with something that the big guys buy into...only on a less frenetic scale.
Quote from: GoCougs on June 15, 2021, 10:48:16 AM
That's definitely part of it, but there's also a whole lot of pan and general irrational exuberance desperate for The Next Big Thing.
Yup.
Buzzword of two years ago was "blockchain".
Quote from: Rockraven on June 15, 2021, 05:19:16 PM
Checked in on the Elio Owners Group. Oh my, what a sad and lonely place. :lol:
Wasn't there a former 'Spinner who worked/used to work there?
Quote from: Submariner on June 16, 2021, 10:23:40 PM
Wasn't there a former 'Spinner who worked/used to work there?
Teuton used to do PR at Faraday Future, which was a hilarious EV horrorshow.
Then he moved to Mazda.
Now he works at Audi.
Quote from: Laconian on June 16, 2021, 11:43:22 PM
Teuton used to do PR at Faraday Future, which was a hilarious EV horrorshow.
Then he moved to Mazda.
Now he works at Audi.
I thought Faraday was after Mazda?
Lol I forgot about Faraday
https://www.reuters.com/article/us-faraday-future-m-a-property-solutions/electric-vehicle-firm-faraday-future-to-go-public-via-3-4-billion-spac-deal-idUSKBN29X15T
It's a mini dot-com boom/bust, like 1999: lots of silly money chasing no-hopers. Like 1999, the underlying tech will eventually take off, but capital will flow to just a small handful of big players who will have gobbled that tiny number of startups with ideas/innovations that have actual worth, leaving the trash to face prosecutors, lawsuits & bankruptcy.
Quote from: Rockraven on June 15, 2021, 05:19:16 PM
Checked in on the Elio Owners Group. Oh my, what a sad and lonely place. :lol:
Ugh... I had a coworker that drank that koolaid and had a deposit.
Quote from: Morris Minor on June 24, 2021, 06:34:31 AM
It's a mini dot-com boom/bust, like 1999: lots of silly money chasing no-hopers. Like 1999, the underlying tech will eventually take off, but capital will flow to just a small handful of big players who will have gobbled that tiny number of startups with ideas/innovations that have actual worth, leaving the trash to face prosecutors, lawsuits & bankruptcy.
It's actually more like the auto industry 100 years ago with tons of small startups tinkering with the new technology. Which is fitting since an EV is pretty much a different ball game as several established auto makers have finally figured out.
Quote from: r0tor on June 25, 2021, 08:02:48 AM
It's actually more like the auto industry 100 years ago with tons of small startups tinkering with the new technology. Which is fitting since an EV is pretty much a different ball game as several established auto makers have finally figured out.
No, not really. EVs have been in widespread industrial use for decades. There ain't any new tech new under the sun. What's new actually is the shocking levels of exuberance and government force in trying to invent a business out of EVs.
Yes, we have had powerwheels and electric golf carts for decades... No, we have not had cars with ranged of 300 miles, fantastic performance, and relative affordability until a few years ago.
EVs are a thing now and are much more popular (more market share + public knowledge/awareness) than ever before, I don't know how you can still be an EV denier.
Quote from: r0tor on June 28, 2021, 07:31:36 AM
Yes, we have had powerwheels and electric golf carts for decades... No, we have not had cars with ranged of 300 miles, fantastic performance, and relative affordability until a few years ago.
Quote from: CaminoRacer on June 28, 2021, 09:40:28 AM
EVs are a thing now and are much more popular (more market share + public knowledge/awareness) than ever before, I don't know how you can still be an EV denier.
Not quite. It's all about facts, data and logic.
Telsa's been pumping out its Model S wares for 9 years now, and here we are, little closer to parity with ICE, including making a business case out of it.
The Mustang Mach E is outselling the Mustang. The model 3 is the best selling sports sedan.
Quote from: r0tor on June 28, 2021, 06:58:55 PM
The Mustang Mach E is outselling the Mustang. The model 3 is the best selling sports sedan.
Great, but revenue alone does not a business make hence the money-losing proposition of Tesla, Bolt, and any other EV ever sold (but I repeat myself).
Quote from: GoCougs on June 28, 2021, 08:31:23 PM
Great, but revenue alone does not a business make hence the money-losing proposition of Tesla, Bolt, and any other EV ever sold (but I repeat myself).
There are plenty of HYUGE businesses which do not make money. Our entire farming industry would fall apart without subsidies.
Oil industry would have ended decades ago