Chinese automaker Geely's move on Thursday to take over funding of struggling EV maker Polestar from Volvo Cars is the latest consolidation among EV brands since Tesla Inc's historic financial surge in the early 2020s. Tesla rode cheap capital, technological breakthroughs and Elon Musk's outsized persona to a $1-trillion valuation - but only after years of heavy spending before turning a profit. Now legacy automakers, startups and investors that bet more than $1.2 trillion on EVs face increasingly tough decisions to cut losses.
The struggles of Polestar and other smaller players underscore the massive expense of developing EVs, which favour deep-pocketed companies willing and able withstand sustained financial bleeding
LONDON : Britain's decision to delay a ban on new fossil fuel car sales may make little difference to the pace of a shift to electric vehicles (EVs), even though the news drew anger from automakers worried about supply chains and investment uncertainty.UK Prime Minister Rishi Sunak, who is expected to fac
Britain s decision to delay
a ban on new fossil fuel car sales may make little difference to
the pace of a shift to electric vehicles , even though the
news drew anger from automakers worried about.
By Nick Carey and Alistair Smout LONDON (Reuters) - Britain's decision to delay a ban on new fossil fuel car sales may make little difference to the p.