Cash is king for EV makers as soaring battery prices push up car production costs

Cash is king for EV makers as soaring battery prices push up car production costs

On April 11, 2022, the company’s factory in Normal, Illinois produces the electric Rivian R1T pickup truck. Michael Whelan/CNBC In the transition from gasoline-powered vehicles to electric vehicles, the fuel every automaker is running on after these days is cold cash. Both established automakers and startups are launching new battery-powered models to meet growing demand. …

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