Electric Vehicle Start-Up Strategies: Further Bankruptcies as Certain Mature Markets Hold Back Incentives

This report highlights the challenges facing electric vehicle startups outside China, detailing bankruptcies and shifts in consumer demand away from EVs.

This report reviews the ongoing challenges facing electric vehicle startups outside China. Many have entered bankruptcy or scaled back production amid weakening investment, reduced incentives, and shifting consumer demand toward hybrids in key markets such as the United States. Following the June 2024 bankruptcy of Fisker, more than twenty other startup automakers outside China have also folded, and a further six have moved away from producing electric vehicles.