this post was submitted on 04 Aug 2023
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[Dormant] Electric Vehicles
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That has to be a heavily subsidized price.
Their business plan is probably to hide the true cost for as long as they can simply to build marketshare, and then they probably hope that by the time their venture capital money is nearly depleted, battery prices will have come down enough to where they won't be losing their shirt on every vehicle they sell.
That seems to be the general business plan for a lot of silicon valley companies in recent years, and not just EV car companies either.
Their cars are assembled by Magna. Magna can probably save them a lot of money due to how many car makers already rely on their product solutions and manufacturing capabilities.
Yeah but Magna isn't a low cost manufacturer. The Ocean will be built in Austria. It will save them some money versus building their own factories, but it's not like it's built in China. To hit those prices that they claim, they are literally losing money on every unit and just burning through that VC money instead.