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EV startups that have merged with special purpose acquisition companies, or SPACs, are starting to struggle despite collectively raising billions of dollars over the last year. Lordstown Motors, for example, says it already needs more money to hit its goals for 2021.
IHS Markitestimates a
global production loss of 1.3 million units in Q1 2021 resulting from the ongoing semiconductor shortage, as well as shortages of steel and polypropylene, and transit delays at ports. IHS notes the “
impact on new vehicle sales remains to be seen at this stage, as inventory levels remain healthy enough to meet today s demand.”
Due to the semiconductor shortage, production of Ford’s highly profitable F-150 is affected by shutdowns scheduled for
Dearborn Truck Plant the weeks of April 5 and April 12, and the truck side of
Kansas City Assembly the week of April 5. Production of various crossover models is affected by shutdowns of Ford’s Louisville Assembly Plant the weeks of April 12 and April 19, as well as production shutdowns at Oakville Assembly in Ontario the weeks of April 12, 19 and 26; the automaker has cut overtime at multiple plants.
Aptera and its solar car are back from the dead
And so is the government program that killed it
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A decade ago, a small electric vehicle startup died. But now it’s back from the dead and so is the government program that helped kill it.
This zombie company, called Aptera, is once again trying to sell people on a curious idea: an ultra-efficient three-wheeled electric vehicle powered, in part, by solar panels. And like a bad sequel, one of the villains from the first go-round is back, too: the Department of Energy’s Advanced Technology Vehicles Manufacturing program. The same program that famously saved Tesla from an early collapse also helped deliver the death blow to Aptera and a number of other startups along the way.