EV Startups Hit Hard as Demand Drops and Investors Pull Back
• EV startups like Rivian and Lucid struggling as demand sags and investors flee; stocks down massively from 2021 peaks • Tesla's warning of slowing EV demand in Oct 2022 triggered broader industry gloom • Rivian and Lucid missing growth targets and production estimates far below expectations • Backing of deep-pocketed investors like Amazon and Saudi sovereign fund offers lifeline • Analyst "Whoever finds a sponsor has the best chance" as EV hype fades and restructurings loom