2 EV Corporations Hurting. Headed Toward Dust Bin?

Canoo has liquidity issues.
Profitability remains years away even in a best-case scenario, and there’s a high risk the business will struggle to remain solvent.

He Xiaopeng, the 45-year-old billionaire cofounder, chairman, and CEO of China’s electric vehicle maker Xpeng, is now worth $1.4 billion after his wealth tanked by 75% from its 2021 peak, according to Forbes.

Xpeng’s results came amid an intense price war in China’s EV sector triggered by Tesla.

Xpeng followed suit, but its price cuts did not appeal to buyers who prefer to buy cars made by Tesla or Warren Buffet-backed BYD as they are more popular, Wang Hanyang, a Shanghai-based analyst at 86 Research, told Forbes.

Xpeng has deeper pockets & has received good reviews on its models.

But reviews are not sales. And sales are what is needed.

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I would say the G9 has a good chance if they fix the minor problems encountered. More capable batteries would be needed for most markets, but that is more “waiting for battery tech” than anything else.