From $91B to $2.3B: The Catastrophic Collapse of America's EV Industry

From $91B to $2.3B: The Catastrophic Collapse of America's EV Industry frames a sharp decline in U.S. electric-vehicle fortunes using figures cited from a media segment dated July 22. Lucid, once valued at $91 billion, is described as worth about $2.87 billion, while Rivian has fallen from a peak near $150 billion to roughly $25 billion. The analyst argued that both startups could face collapse tied to board-level decisions and are not expected to reach positive cash flow before 2030. For Lucid, Reuters-style figures cited include Q4 2025 revenue of $522.73 million, deliveries rising 72% year over year to 5,345, and a GAAP net loss around $814 million with negative free cash flow of $1.24 billion. For 2025 full-year, revenue totaled $1.35 billion and free cash flow was negative $3.8 billion, with cash and equivalents at $997.83 million. The segment also points to restructuring losses at Ford and large charges at Stellantis, while noting backstops tied to Volkswagen, Uber, and a U.S. Department of Energy loan for Rivian’s Georgia facility.