If you include plug-in hybrids in the mix, some 70 electrified vehicles are expected to hit streets around the world within the next few years, according to Ward's Auto. Many of those vehicles are expected to be produced by startup automakers and some will inevitably bomb. Micky Bly, executive director of electrical system, hybrids, electric vehicles and batteries at General Motors, says that without a doubt, we will "see some spectacular failures this year."
Automakers that are already facing financial difficulties could fold soon. For example, Li-ion Motors, a company that says it needs an additional $2 million to launch the six-figure Inizio supercar in July and the sub-$50,000 Wave II hatchback in December, is one of many cash-strapped firms looking to enter the electrified vehicle segment.
Bly told Ward's Auto that some electric vehicle makers will quickly realize "that becoming a car manufacturer is not easy" and will subsequently fail "very soon." When asked to pick a survivor among the electric vehicle startups, Bly says Tesla Motors stands out amongst the crowd. Who do you think is headed for the exit door?
[Source: Ward's Auto]