Part 3/5:
Rivian reported a staggering $1.1 billion net loss in the third quarter, losing an astounding $39,000 per vehicle delivered. Lucid's net loss widened to $950 million in the same period.
Despite investments from deep-pocketed backers like Saudi Arabia and Amazon, these new EV players are burning through cash at an unsustainable rate as they ramp up production and face their own supply chain challenges.
Tesla Bucks the Trend, Boosted by Trump Ties
In contrast to the industry-wide malaise, Tesla appears to be thriving. The company's stock has surged 29% this week, adding over $230 billion in market value.