Electric vehicles confront the leap to the mass market
The past year was sobering for investors who poured money into Tesla Inc (TSLA.O) and rival electric vehicle startups that hoped to emulate Tesla CEO Elon Musk's success.
As interest rates rose and financial markets gyrated, shares in many EV startups deflated. Rivian Automotive Inc (RIVN.O), which had a higher market value than Ford Motor Co (F.N) shortly after it went public in 2021, lost more than 70% of its value over the past year.
Other EV startups fared worse. Electric van maker Arrival warned it could run out of...