Part 6/11:
Historically, these automakers have lost significant money on EV production, which is exacerbated by their legacy manufacturing processes, supply chain complexities, and high costs associated with transitioning to electric platforms. To sell EVs profitably, companies must either absorb losses or risk cannibalizing their lucrative gasoline vehicle sales—an unattractive proposition for many.
Moreover, some newer entrants like Rivian, despite starting from scratch and innovating effectively, are also not yet profitable. This highlights the inherent difficulty in scaling EV production profitably at current cost structures.