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Calls for a change in how the UK backs its transport industry have followed a rough couple of months in which several EV-angled start-ups have gone under.
Recent victims of the investment crunch have included electric truck maker Volta (since bought out), electric van maker Arrival, electric motor specialist Saietta and ICE vehicle electrifier Lunaz.
Others look set to follow, including electric motorbike maker Arc Vehicle. Autocar contacted the company after establishing that it had vacated its Coventry headquers but didn’t receive a reply.
Investors have become super-cautious about EV-focused start-ups after too many got burned in the ‘gold rush’ of 2020-2021, believes Ben Hedley, CEO of electric replica maker The Little Car Company (TLCC).
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