Fisker, grappling with fundraising issues, slow sales, and supply chain hurdles, filed for bankruptcy protection. Despite efforts to cut costs and seek investments, including from major automakers, the company struggled to sustain operations amid weak demand for its Ocean electric SUV. Meanwhile, other US EV startups like Rivian and Lucid are adapting to market conditions by lowering costs, introducing cheaper models, and restructuring operations to enhance efficiency. Rivian, focusing on profitability, revamped its assembly line and introduced more affordable vehicle options.