Reported 1 day ago
Electric vehicle battery startup Our Next Energy is set to exit most of its factory space near Detroit, opting to vacate over two-thirds of its facility due to sluggish EV demand and investment uncertainties. Initially backed by significant state funding, the company is facing delays in its automotive contracts and has decided to shift its focus towards energy storage systems and other sectors. Despite the challenges, Our Next Energy is maintaining its pilot cell production line and aims to achieve break-even by the end of next year.
Source: YAHOO