The problem is that bringing a car to production is incredibly hard and incredibly expensive. Even in the best of times where the market shoves free money into you, its incredibly hard to get a mass production vehicle to market.

Lots of EV companies were high on cash and most still couldn't get a car into production.

Trying to do it now where it is way, way harder to raise massive amounts of cash is incredibly hard. And this start-up has already gone bust once, and are trying to bring a vehicle to market that is quite complex and has limited appeal.