One of the most anticipated electric vehicles of all-time is the Cybertruck from Tesla Inc (NASDAQ: TSLA). The new electric pickup truck will put Tesla in increased competition with several traditional automotive companies for a sector that sees strong annual sales.
Monday’s quarterly report from Lordstown Motors (NASDAQ: RIDE) raised significant concerns as the EV startup is struggling with production issues and its undergoing electrification. It already halted production of its EV pickups on February 23rd, after only having delivered just six of them.
General Motors Co (NYSE: GM) robotaxi unit Cruise is eyeing cost cuts this year as mounting losses in the autonomous vehicle companies sparked investor concerns.