These electric vehicle companies, especially the ones making buses for governments, were in the business of gaining investors, not making viable products.
One suspects money laundering.
Just like Solyndra. I remember an article about how much Rivian lost on each truck sold. If it were not for the $$billions$$ of taxpayer dollars, there would not be much of this.
Two years ago, Mercedes announced that they would be ‘fully electric’ by 2030. This week,
Mercedes announced........welllll......not exactly. The consumer wants to be able to choose, and right now most are choosing what works, what makes sense, and, most importantly, what they prefer.
Macroeconomic conditions my ***. How about everyone who intended to buy one bought one and the demand for overpriced pickup trucks that don’t actually function as pickup trucks, but require frequent rest breaks to recharge during which time they’re useless is dead and gone.
As most folks here know, as soon as the FedGov’s support money for EVs disappears so will most of the EVs and their makers.
Problem with owning a Rivian
Here’s Why That Rivian R1T Repair Cost $42,000 After Just A Minor Fender-Bender