TECH - First Rivian Now Nio: EV Makers Are Lighting Money On Fire To Compete | Benzinga
Electric vehicle makers across the globe are burning through cash, fighting for a spot in your garage. But a look under the hood shows it might not be as bad as it appears from the outside looking in.
Charging Into The Future: As the EV market continues to boom, more and more startups are spending money to try to get you behind the wheel of their EVs.
The idea of a fully electric future is being pushed along by increasing consumer interest, government support and technological advancements making the relative value of EVs more appealing.
For most of the EV companies out there, it's all about demand and they don't care about how much cash they have to burn to get you to ride with them.
According to a New York Times report, Chinese EV maker NIO Inc - ADR (NYSE: NIO) lost about $35,000 per car last quarter. It's only selling about 8,000 cars each month, but spending isn't ...