Posted on 02/23/2024 9:19:25 AM PST by ChicagoConservative27
Electric vehicle makers Rivian and Lucid both suffered plummeting share prices after disappointing fourth-quarter earnings reports revealed stagnant production numbers.
CNBC reports that shares of electric vehicle makers Rivian and Lucid plunged on Thursday following disappointing fourth-quarter earnings reports released after markets closed on Wednesday. Rivian stock sank around 25 percent, while Lucid shares dropped nearly 17 percent.
Both companies cited stagnant production numbers and “existing economic and geopolitical uncertainties” as factors impacting results. Rivian forecasts production of 57,000 vehicles in 2024 — about the same as the 57,232 vehicles manufactured in 2023. Meanwhile, Lucid predicts production of 9,000 vehicles this year, a mere seven percent increase over 2022 levels.
(Excerpt) Read more at breitbart.com ...
EV’s DOA.
More stupid unconstitutional federal government illegally at work...
We have reached Market Saturation.............
Perhaps the battery-powered EV market has hit its saturation point. These are niche vehicles, with limited popular acceptance. Short runs, sources for recharging, original cost, cost of maintenance of the battery system, and hazards peculiar to the design of the batteries.
If only they would offer an option of an on-board power generation system...
Some manufacturers do, you know. They are called hybrids.
MINE, MINE, TARKEL, PARSIN.
The Handwriting is on the wall.
Rivian, the “truck” for the soy boy in you.
A lot of the Amazon trucks in my area are made by Rivian.
Not only is the gov't illegally pushing EV's and Wuhan vaccines, but whatever the gov't illegally touches becomes DEADLY!!!
Gov't is designed to kill. Good gov't is limited and pointed at our foreign enemies. Bad gov't is pointed at us, the American citizens. Right now, we have very BAD gov't.
NUKE THE 80%+ UNCONSTITUTIONAL PORTION OF THE FEDS!!!!!
NOW!!!!!
More stupid unconstitutional federal government illegally at work...
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Fascism also at work.
unconstitutional federal government = Fascism
“existing economic and geopolitical uncertainties” Translation: Nobody wants to buy out pieces of sh!t.
Amazon can afford them
Don’t worry, wise Bidenomics will correct all the financial losses. Rejoice America, you’re in good hands.
Many Americans cannot read and certainly not the Babylonian language.
Probably actually set their viability back by artificially pushing it to market vs. letting it be perfected and (possibly) being accepted into the market of its own merits. We’ll never know now.
Yes!
Please spell my moniker correctly. But, yes, the hand IS writing on the wall right now...
Nobody saw this coming, nope, no one.
“The federal gov’t has NO constitutional authority to regulate the free market”
It’s regulating these car manufacturers into backruptcy. Stupid of them to listen.
The federal beast is ILLEGALLY regulating these car manufacturers into bankruptcy.
Kill the beast!!!
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