Back to News
In the past two months three EV start-ups have received delisting notices from respective stock exchanges as their share prices have tumbled to below USD1, and now face the prospect of bankruptcy. These notices reflect wider issues within the EV industry, as even more established players are struggling, with sales stagnating and share prices tumbling. Chinese EV pure players are also under threat as they vie for a place in the market that is dominated by big players.
Fisker and Faraday Future face delisting, and Arrival enters bankruptcy
Over the last year, Fisker’s shares have dropped by 92% on the NYSE, over the time period Faraday Future shares dropped by 100% on the NASDAQ. Arrival, on the other hand, after receiving a delisting notice from the NASDAQ at the end of January, entered into bankruptcy at the start of February. The British firm, once valued at USD13 billion, declared bankruptcy after only managing two vehicle sales.
These EV companies are battling…
To read the rest of the article, and for full access to our news and insights, log in to our Membership Platform.
If you are not a Member, you can request a trial of the platform:
___________________________________________
Image credit: Adobe Stock