Chevy Equinox EV Forum banner

EV Startups Fisker, Nikola, Lucid Sink On Wide Losses, Output Cuts. Rivian next?

552 Views 25 Replies 9 Participants Last post by  Steverino
I read a quote that said making EV's is easy, making an EV car company is hard.

The EV startups Fisker (FSR) and Nikola (FSR) missed Wall Street's estimates early Tuesday after Lucid (LCID) fell short late Monday. Rivian (RIVN) is on deck late Tuesday. FSR stock, NKLA stock and LCID stock all tanked in Tuesday morning trade. Analysts expect Rivian to lose $1.61 per share, widening from a $1.42 loss a year ago. Revenue is seen surging 596% to $661 million.

A price war in the electric-vehicle market and a bankruptcy warning from a troubled peer set the tone for the week's earnings reports.

Investors are placing heightened emphasis on cash burn and production targets, amid recession fears and the Lordstown warning. Even Tesla (TSLA) recently gave a cautious production outlook. Its price cuts earlier this year set off an EV price war, while adding to pressure on the startups.

Going forward, traditional auto giants such as General Motors (GM) and Ford Motor (F) are set to significantly expand their EV output.

I would worry about future warranty (an after warranty) work when buying a car from a startup.

  • Like
Reactions: 1
1 - 20 of 26 Posts
And Fisker already went toes-up once before.... 馃槵
And Fisker already went toes-up once before.... 馃槵
They have a partnership with Magna and Foxconn which pretty strong companies. This miserable stock market/economic situation is just making it miserable for everyone. Musk's price war might backfire on him as early adopters felt ripped off by the lower pricing. Who knows who will return to buy a newer model? My feeling is that Lucid will be the one to fall as they didn't release an SUV/pickup at first.
They have a partnership with Magna and Foxconn who a pretty strong companies. This miserable stock market/economic situation is just making it miserable for everyone.
Yeah, Foxconn being involved is NOT a good sign.



  • Like
Reactions: 1
They have a partnership with Magna and Foxconn who a pretty strong companies. This miserable stock market/economic situation is just making it miserable for everyone. Musk's price war might backfire on him
as early adopters felt ripped off with the lower pricing. Who knows who will return to buy a newer model. My feeling is that Lucid will be the one to fall as they didn't release an SUV/pickup at first.
True....the company is much better equipped to succeed than last time, partnering with Magna, et cetera.....but it's troubling to see bad software is already screwing up their deliveries of the Ocean.... 馃
Yeah, Foxconn being involved is NOT a good sign.
Not a good sign to have Foxconn onboard?
Not a good sign to have Foxconn onboard?
"Lordstown Motors stock plunges after dispute with investor Foxconn"

Shares of electric truck maker Lordstown Motors dropped more than 40% in Monday trading and ended the day down 23%, after the company disclosed that Foxconn, its major investor and the company that is helping to build its trucks, said it wants to back out of making further investments.

With that arrangement apparently unraveling, Lordstown could face bankruptcy, according to the truck maker.

  • Like
Reactions: 1
"Lordstown Motors stock plunges after dispute with investor Foxconn"

Shares of electric truck maker Lordstown Motors dropped more than 40% in Monday trading and ended the day down 23%, after the company disclosed that Foxconn, its major investor and the company that is helping to build its trucks, said it wants to back out of making further investments.

With that arrangement apparently unraveling, Lordstown could face bankruptcy, according to the truck maker.

Sadly, Lordstown didn't have a future to begin with. Their truck didn't seem to attract buyers with its blandish design. Their only asset is the facility itself.
  • Like
Reactions: 1
Fiskerati said Foxconn is doing well.
  • Like
Reactions: 1
Fiskerati said Foxconn is doing well.
Just saying between Foxconn Wisconsin and Foxconn Lordstown it's a spotty record.
Actually, unlike most people, I kinda liked the looks of the Lordstown Motors pickup truck - but as soon as Ford announced they were releasing a base-model, AWD, electric F150 for just $50,000, I knew that was the death knell for the $50k Lordstown truck... 馃槩
  • Haha
Reactions: 1
I kinda liked the looks of the Lordstown Motors pickup truck
The black side stripes remind me of someone trying to make a truck that echos the "Tron" movie. But without them it would look like a plain ol' truck.

Wheel Automotive parking light Tire Land vehicle Vehicle
See less See more
  • Like
Reactions: 1
Not a good sign to have Foxconn onboard?
If them "being onboard" means them actually doing what they promise, it's probably a good thing. If it means "they've promised to build production and design facilities in exchange for tax incentive" expect the fruition to actually be them buying a lot of land, getting other companies to decide not to compete in the product space they announce, getting the President to show up for a groundbreaking ceremony, taking the tax benefit, then de facto abandoning the unbuilt and making the stuff in China anyway, then it's not. You can read the links above and see how the last big US venture they were involved in went.
  • Helpful
Reactions: 1
Rivian results are in, they lost money but not as much as expected, so the stock got a boost.
  • Like
Reactions: 1
I don't care about the stock market, I care about dealership availability. Tesla can be as rich as they want, but as long as they control where I get service, and have 0 competition for it, I'm not buying one. Same goes for all the others. As faulted as the dealership system is, it's still better than "we'll get to you whenever". I've seen Teslas waiting 9 months for a freaking bumper and headlights at a body shop.

I'd love to buy a car without a dealership involved, but I wouldn't like to hold a car under warranty without one.

No, thank you.
  • Like
Reactions: 2
I have a reservation for a Pear, but I will probably cancel it for exactly the reason mentioned above.
I know where to get parts and support for a GM, no idea if there will even be a logistics base for Fiskers. At least not for a few years.

that鈥檚 the main reason I鈥檒l put in an order for an Equinox EV when able, proven build quality and support.
  • Like
Reactions: 2
Ha! My post gave me a French flag because I鈥檓 in Paris for work!

I live in Southern Illinois, hence my trepidation about support from a new company.
  • Like
Reactions: 1
Ha! My post gave me a French flag because I鈥檓 in Paris for work!
Wee wee Capitan !
  • Haha
Reactions: 1
They have a partnership with Magna and Foxconn which pretty strong companies. This miserable stock market/economic situation is just making it miserable for everyone. Musk's price war might backfire on him as early adopters felt ripped off by the lower pricing. Who knows who will return to buy a newer model? My feeling is that Lucid will be the one to fall as they didn't release an SUV/pickup at first.
Rivian is my bet for the first one to go. Lucid has so much money behind them I am not sure they will let them fail. Rivian on the other hand I think we take too long to get their R2 platform to market and will suffer demand issues as other manufacturers take over the affordable segments.
  • Like
Reactions: 1
Rivian is my bet for the first one to go. Lucid has so much money behind them I am not sure they will let them fail. Rivian on the other hand I think we take too long to get their R2 platform to market and will suffer demand issues as other manufacturers take over the affordable segments.
Don't forget Rivian has Amazon behind them. Rivian's been delivering EDVs to Amazon for the past several months.
1 - 20 of 26 Posts
Top