Electric vehicle makers burning cash, slammed by sky-high costs
Source: Reuters
Nov 14 (Reuters) - Every time Lucid Group Inc (LCID.O) or Rivian Automotive Inc (RIVN.O) sells an electric car, they are losing hundreds of thousands of dollars due to staggering raw material and production costs, their latest earnings statements showed.Quarterly reports from electric vehicle (EV) makers from the past two weeks show them struggling to hit delivery targets and rapidly burning through cash.Lucid's…
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