The slump in the U.S. electric vehicle (EV) industry continued in 2025, and several startups, including Nikola (NKLAQ) and Canoo (GOEVQ), filed for bankruptcy, continuing the spate of bankruptcies from the previous year. Most U.S. EV startups that went public between 2020 and 2021 have already gone out of business or become inconsequential. Rivian (RIVN) and Lucid Motors (LCID) are the only two EV startups of some consequence still standing, even as they trade at a fraction of their all-time highs. Both ...