In the wake of Tesla’s industry-shaking success and the future promise of electric, autonomous mobility, would-be electric car companies are sprouting up everywhere. The floodgates have opened, with the last decade seeing more startups get off the ground than at any time since the dawn of the automobile. Most are already finding out the hard way that car building is a terrible way to make money. Developing and selling cars is a hugely cash-intensive business, and automobiles are the world’s single most complex consumer goods, subject to the most numerous and varied global regulations and operating environments. It all adds up to a world where an overwhelming majority of intenders will fail, most without ever having delivered a single vehicle.
