ev bubble has popped | BTCC Knowledge

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Is the EV bubble popped?

Whatever the reasons, one thing is certain: the EV bubble has popped. Just look at the numbers. The combined peak market capitalization of Nikola, Fisker, Rivian Automotive, Lucid, NIO, XPeng, Polestar Automotive, Canoo, and Lordstown Motors was once about $470 billion.

Is EV space collapsing?

Crack: At pixel, the entire EV space is collapsing. Tesla is down 11 per cent, Chinese competitor Nio 13 per cent, and so on, and so on. Just click on the sheet, it is a vast wash of red. Total market cap loss since the top stands at an astonishing $730bn. Gone in little over a month.

What's going on with the EV market?

General Motors and Ford recently paused work on new EV factories and scaled back their sales targets, while Honda abandoned a $5 billion plan to make affordable EVs with GM. Meanwhile, battery makers Panasonic and LG Energy Solution warned of an EV market slowdown.

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