NKLA - Rivian Lucid & Nikola Facing 'EV Winter' Challenge? Reportedly Struggling With Cost-Cutting Strategies To Boost Cash | Benzinga
This week, Rivian Automotive, Inc. (NASDAQ:RIVN), Lucid Group, Inc. (NASDAQ:LCID), and Nikola Corporation (NASDAQ:NKLA) leaders outlined strategies to cut costs, expand operations, and achieve profitability.
These strategies involve various measures, including workforce reductions, production adjustments, supplier changes, and strategic realignments, CNBC reported.
Wall Street analysts describe the electric vehicle market as experiencing an “EV winter,” signaling a shift from “EV Euphoria.” However, some view it as a temporary setback, anticipating carmakers to overcome challenges for long-term success, CNBC added.
As EV adoption lags behind expectations, companies rush to market, investing billions for first-mover advantages in ...