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The startup electric vehicle (EV) ecosystem has been troubled, to say the least. Stock prices have fallen to record lows, companies have scaled back production amid tepid demand, and, worse, some companies have gone bankrupt. Even more EV startups may be on the verge of going out of business considering the policies that President-elect Donald Trump is expected to pursue in his second term.
Notably, the startup EV ecosystem is notorious for its massive cash burn. Most emerging electric vehicle companies have weak balance sheets and have to access capital markets often to raise cash.
