Tesla's Price Cuts Are Putting Extra Pressure On EV Startups via insideevs.com
. The price cuts marked Tesla’s vehicles down by as much as 20 percent, which analysts think could draw new consumers away from more expensive models.
will"strengthen their ... competitive advantage over other automakers," CFRA Research analyst Garrett Nelson said.Neither Rivian or Lucid have turned a profit yet, delivering just over 24,000 vehicles last year combined. The cost of goods on Rivian’s vehicles was roughly 2.7 times its revenue in the fourth quarter, and Lucid’s was roughly 2.5 times its sales.
Wedbush Securities analyst Daniel Ives likened the situation to a “Game of Thrones” battle, highlighting how close some of these companies may be to being wiped out.
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