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Electric vehicles confront the leap to the mass market
DETROIT, Dec 15 (Reuters) – The past 12 months was sobering for buyers who poured income into Tesla Inc (TSLA.O) and rival electrical car or truck startups that hoped to emulate Tesla CEO Elon Musk’s good results. As curiosity prices rose and money markets gyrated, shares in a lot of EV startups deflated. Rivian Automotive Inc (RIVN.O), which experienced a better sector price than Ford Motor Co (F.N) shortly after it went community in 2021, misplaced additional than 70{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} of its value about the earlier yr. Other EV startups fared worse. Electric powered van maker Arrival warned it could run out of funds in considerably less than a calendar year.…