The EV revolution presents a transformative opportunity for the automotive industry, enticing entrepreneurs with its potential impact. However, it's a challenging venture, far removed from the simplicity of starting an app or social media company. Building factories, designing vehicles, and getting around government  hurdles require billions of dollars and strategic planning. Some turn to Special Purpose Acquisition Companies (SPACs) or crowd funding to raise funds, but underestimating capital costs is a common pitfall. Success stories like Tesla and BYD emulate strategies of industry giants like Ford and General Motors, but failures such as Fisker, Lordstown Motors, IndieEV, and WM highlight the difficulty of balancing innovation with industry traditions in this fiercely competitive market. Link to the featured video: https://youtu.be/G4d5yV2BXdI?si=YnafyXylgcZuyuh9 Grab a copy of my book: https://partsmanagerpro.gumroad.com/l/qtqax "The Parts Manager Guide" - https://www.amazon.com/Parts-Manager-Guide-Strategies-Maximize-ebook/dp/B09S23HQ1P/ref=sr_1_4?crid=3UZYOGZJUNJ9K&keywords=parts+manager+guide&qid=1644443157&sprefix=parts+manager+guid%2Caps%2C244&sr=8-4 Please remember to like, share and leave your comments. Videos are uploaded weekly. Visit my website for more! https://www.partsmanagerprof.com/ If you want me to continue making videos like these, please donate to our paypal account: paypal.me/partsmanagerpro Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. No copyright infringement intended. ALL RIGHTS BELONG TO THEIR RESPECTIVE OWNERS* This video is for educational and entertainment purposes only.