Depending on who you listen to EV sales are doing great or EV sales are in the dumps or … . The Electric Viking takes a look at this question from the point of view of cash flow. That is, who makes money selling EVs, who loses money selling EVs and who won’t survive much longer selling EVs.
The numbers didn’t come out as I had expected. Sure, we all know that Tesla makes money selling EVs and it looks like the Tesla Model Y will again be the car (that is, any kind of car, not just an EV) with the most sales. But, Sam calls your attention to some things that most people miss.
Take BYD, for example. Their sales keep growing but that is because about half their sales are Hybrids. Tesla is the only company that makes money selling only EVs. He then goes into who has gone bankrupt and the good and bad trends for other companies that continue to lose money selling EVs.
His punchline is that the company doing the worst is Rivian — something that surprised me.
