New vehicle makers find the going getting tougher

Tesla has changed the face of automotive manufacturing and led the move in the US and Europe to electric vehicles (EVs). The company now makes EVs in the US, China and Germany and is reportedly considering plants in Mexico, Spain and a number of other locations across the world. It is synonymous with the shift to EVs and its success, while far from an overnight phenomenon, has been the inspiration for several others to enter the burgeoning EV market.  However, no other new entrants have yet had anything like the success of Tesla, although Polestar (which the financial backing of Geely and the engineering support of Volvo) will likely succeed; for many of the other new entrants the challenges are substantial and some are now facing financial oblivion.