Electric-vehicle startups were struggling before the election. Donald Trump’s victory could send them into a tailspin.
Several high-profile companies, including electric SUV maker Fisker and bus manufacturer Arrival, filed for bankruptcy earlier this year. Swedish-based battery maker Northvolt became the latest casualty last week, filing for Chapter 11 after BMW canceled a key order.
At least a dozen other startups, specializing in electric vehicles or batteries, are at risk of running out of cash by next summer, according to a Wall Street Journal analysis of their most recent filings.
Musk is there as a counter.
