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#211 |
Veteran
Join Date: Dec 2019
Location: Ohio
Casino cash: $620400
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Posts: 1,799
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#212 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
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Quote:
I’ll take all the shit I can get. |
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Posts: 57,558
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#213 |
Supporter
Join Date: Dec 2004
Location: Ozarks
Casino cash: $2010564
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EV maker Fiskar files for bankruptcy
Fisker filed for bankruptcy protection late on Monday, as the U.S. electric-vehicle maker looks to salvage its operations by selling assets and restructuring its debt after burning through cash in an attempt to ramp up production of its Ocean SUVs.
The hyper-competitive EV market has seen several companies, including Proterra, Lordstown and Electric Last Mile Solutions, file for bankruptcy in the past two years as they grappled with weakening demand, fundraising hurdles and operational challenges from global supply chain issues. The company, founded by automotive designer Henrik Fisker, flagged doubts about its ability to remain in business in February and later failed to secure an investment from a big automaker, forcing it to rein in operations. The collapse of its talks with the automaker − which Reuters had reported to be Nissan − meant that it was denied $350 million in funding from an unnamed investor that was contingent on the automaker's investment and forced Fisker to explore options. "Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently," Fisker said. https://www.usatoday.com/story/money...ent=newsletter |
Posts: 33,894
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#214 | |
Supporter
Join Date: Dec 2004
Location: Ozarks
Casino cash: $2010564
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Quote:
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Posts: 33,894
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#215 | |
Valiant 'The Thread Killer'
Join Date: Jun 2001
Location: Kansas City
Casino cash: $5832380
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Quote:
Just seems like missed step and easy marketing..50 plus mpg and a 18 gallon tank on a car get you 900 miles. All of the rental car companies cancelled their ev orders because no one wants to drive them on vacation or traveling. They offered our company a bunch of them for super cheap because their inventory is so large. It is like most of the citizens were trying to tell them what they wanted and they scoffed them for the governments ev checks. Seems the downward trend started after Chicago's winter last year and all the dead cars. |
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Posts: 18,424
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#216 | |
Supporter
Join Date: Dec 2004
Location: Ozarks
Casino cash: $2010564
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Quote:
Personally, we lucked into buying a hybrid at the right time (3 years ago) and it has been such a money saver. I have zero emotional attachment to it, purely transportation but it gets 52 mpg. |
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Posts: 33,894
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#217 |
Valiant 'The Thread Killer'
Join Date: Jun 2001
Location: Kansas City
Casino cash: $5832380
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Yeah not going to lie. The new Prius actually looks nice for the first time ever. I am eyeing the hybrid for how much driving I do.
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Posts: 18,424
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#218 | |
Hey Loochy, I'm hooome!
Join Date: Oct 2008
Location: PooPooKaKaPeePeeShire
Casino cash: $840397
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Quote:
It's nice that vehicle manufacturers finally realized that hybrids and EVs don't have to look like stupid eggs.
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Hey Loochy, I'm hoooome! ![]() |
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Posts: 41,121
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#219 | |
Here We Go Again
Join Date: May 2002
Casino cash: $1063544
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Quote:
__________________
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Posts: 14,698
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#220 |
Supporter
Join Date: Dec 2004
Location: Ozarks
Casino cash: $2010564
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another article on Fisker.
EV Maker Fisker Folds in a Troubled EV Market Fisker, whose flagship electric vehicle holds the distinction of being the worst car YouTube gearhead Marques Brownlee has ever reviewed, filed for Chapter 11 bankruptcy. The real surprise is that the California-based EV manufacturer and a handful of other EV startups have managed to stick around as long as they have in a rapidly changing EV landscape. Everybody Wants to be Tesla Even Tesla, the EV startup that remains the envy of most car makers, is far from Ludicrous Mode. In the first quarter, total automotive revenues were down 13% year-over-year, and its stock is one of the worst performers on the S&P 500, plummeting 25% year-to-date. As for the Big Three — Ford, General Motors, and Stellantis — they’re still figuring out their EV game plan, and hybrids are all the rage anyhow. US EV sales went up last year, but still only amounted to less than 10% of all car purchases, according to Kelley Blue Book. Small wonder EV startups are dropping like electric flies. Besides Fisker, the past few years have brought the demise of Lordstown Motors, Arrival, and Electric Last Mile. EV big-rig maker Nikola is still in the game, although its CEO was sentenced to four years in prison last December for exaggerating the company tech’s capabilities to investors. The other EV startup survivors are doing better. Slightly: Since its November 2021 IPO, Rivian has seen its share price drop around 90%, and from 2021 to the end of 2023, it incurred roughly $17 billion in losses. If all goes to plan and the company gets its more affordable R2 model to production by early 2026, Rivian might just be able to scale its business around the SUV’s potential success. Keyword: might. Lucid has fared a little better: Its stock has fallen just 85% since its July 2021 SPAC, and being majority-owned by Saudi Arabia’s $700 billion Public Investment Fund suggests some wiggle room. Though maybe not much; in May, Lucid cut 6% of its workforce — or 400 employees — ahead of its Gravity SUV launch later this year, after cutting 1,300 workers last year. How the East was Won: Meanwhile, halfway around the world, Chinese manufacturers are churning out more than half of all the EVs produced anywhere. Brands like BYD and Geely are able to price their cars extremely low thanks to cheap labor costs, hefty government subsidies, and easy access to battery materials. You won’t find it in the US because of poor geopolitical relations and a 100% import tariff, but don’t be surprised to see flocks of BYD’s $10,000 Seagull elsewhere in the world. |
Posts: 33,894
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#221 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $726899
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Quote:
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Posts: 52,213
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#222 |
Hey Loochy, I'm hooome!
Join Date: Oct 2008
Location: PooPooKaKaPeePeeShire
Casino cash: $840397
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Last week we had a Mustang Mach E as a rental car. My wife loved it.
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Posts: 41,121
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#223 |
Supporter
Join Date: Dec 2004
Location: Ozarks
Casino cash: $2010564
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Posts: 33,894
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#224 | |
Sometimes it's black and white
Join Date: Nov 2004
Location: California
Casino cash: $2844900
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Quote:
All electric is still pretty good for two family cars with garage. But plug in hybrids certainly have a place in near medium future.
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Sometimes. |
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Posts: 6,367
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#225 |
Sometimes it's black and white
Join Date: Nov 2004
Location: California
Casino cash: $2844900
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Yeah, the Chinese are serious about EVs and driverless cars. They are taking their lumps, but I wouldn't write them off.
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Sometimes. |
Posts: 6,367
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