The situation is getting tricky! The market value of the new forces in the US electric vehicle sector, Rivian Automotive, Lucid, and Fisker, has plummeted. Will they be acquired or face a final destination?

In recent years, Tesla's competitors Rivian Automotive, Lucid (LCID.US), and Fisker (FSR.US) were once favored by investors, with high market values and seemingly bright prospects.However, the current situation is far from expected. The electric vehicle industry is facing a slowdown in growth, with even market leader Tesla warning of challenges in the coming months. But for these less mature competitors, the term "challenge" seems insufficient to describe their current predicament.Among them, Rivian Automotive announced disappointing quarterly performance and outlook last month, stating a plan to cut about 10% of its staff's salaries. The company's market value has dropped from $153 billion in 2021 to $11 billion.Gene Munster, a partner at Deepwater Asset Management, recently proposed the idea of Apple acquiring Rivian, citing its undervaluation and stating, "Apple needs to enter new markets, they need to make big moves, and Rivian could be the answer."Of course, this would be an unusual move for Apple. So far, Apple's most expensive acquisition was the $3 billion purchase of headphone maker Beats Electronics in 2014. Amazon is Rivian's largest shareholder, holding about 16% of the shares, which have recently taken a hit.Last month, Musk commented on Rivian, saying, "They need to significantly cut costs, the management team needs to live in the factory, otherwise they will go bankrupt." He believes the company has six quarters left before bankruptcy."General downturn in electric vehicles"Meanwhile, Lucid's market value has also dropped from $91.4 billion in 2001 to the current $7.6 billion. Last month, the company stated that it can only produce about 9,000 electric vehicles this year - far below the 90,000 predicted for 2024 three years ago. Its plight led to rumors last year that Saudi Arabia's sovereign wealth fund, holding about 60% of Lucid's shares, would acquire the remaining shares, but this did not happen.As for Fisker, its current market value is $258 million, a significant decrease from $4.1 billion in 2021. Last month, the company received a notice of non-compliance from the New York Stock Exchange because its stock price had been below $1 for 30 consecutive trading days. In addition, the National Highway Traffic Safety Administration is investigating allegations of "unintended vehicle movement" in Fisker's Ocean SUV, which recently received a negative review from influential YouTube user Marques Brownlee, also known as MKBHD.According to sources familiar with the matter, Fisker is in high-level negotiations with Nissan and seeking financial assistance. Under the agreement, the Japanese automaker will invest $400 million in Fisker's truck platform and plans to start producing the Alaska pickup truck from 2026.Fisker CEO Henrik Fisker declined to directly comment on the Nissan matter but stated, "I believe we have a future, otherwise I wouldn't be here. I believe we can overcome this general downturn in electric vehicles."