13 Biggest Electric Vehicle Business Failures in American History

Source: Public Domain / Wikimedia Commons

Anderson Electric Car Company
> Headquarters: Detroit, MI
> Years in business: 1907-1939
> Current status: Dissolved. The Detroit Electric brand was revived in 2008.

In 1907, Anderson Detroit Electric Car Co. built its first electric car, the Detroit Electric, which was actually quite popular in the late 1910 and early 1920s. At the time, the quiet and pollution-free electric cars were especially popular with women. Even Clara Ford, Henry’s wife, drove one. The company built 13,000 electric cars from 1907 to 1939. In 2008, a group of entrepreneurs revived the brand.

Source: ApteraMotorsMedia / Wikimedia Commons

Aptera Motors
> Headquarters: San Diego, CA
> Years in business: 2005-2011, 2019-
> Current status: Relaunched in 2019 as a solar electric vehicle

Originally founded in 2005, Aptera Motors set out to build an ultra-efficient three-wheel electric car, the Aptera 2e, but had trouble getting funding for this type of vehicle. It then created the 4e, a four-wheeled car. Still, it failed to secure funding from the Department of Energy and shuttered in 2011. Aptera was relaunched in 2019 thanks to a $2.8 million crowdfunding campaign and announced in January its Launch Edition. The three-wheeler is integrated with solar charging.

Source: Public Domain / Wikimedia Commons

Baker Motor Vehicle Company
> Headquarters: Cleveland, OH
> Years in business: 1899-1914
> Current status: Merged with Rauch and Lang in 1914 to become Baker, Rauch & Lang

Said to be the first electric vehicle manufacturer, Baker Motor Vehicle Co. rolled out its first model, the Baker Imperial Runabout, at the Automobile Club of America’s First Annual Automobile Show in New York City in 1899. With 3-4 horsepower, the car revved up to a top speed of 12 mph. The car got a boost when Thomas Edison bought one. In 1914, Baker merged with another electric vehicle maker at the time, Rauch and Lang, which is also on this list. Comedian and car collector Jay Leno famously owns a Baker Electric Coupe.

Source: Mariordo / Wikimedia Commons

Bright Automotive
> Headquarters: Anderson, IN
> Years in business: 2008-2012
> Current status: Defunct

Bright Automotive closed down in 2012 after failing to get a low-interest loan from the Department of Energy. The manufacturer had received $5 million from General Motors but was unable to secure government funding. Bright executives blamed onerous loan terms from the Department of Energy for the failure. The Bright Automotive IDEA was a plug-in hybrid light cargo vehicle designed to get about 100 miles per gallon.

Source: Randawg72 / Wikimedia commons

Canoo
> Headquarters: Torrance, CA
> Years in business: 2017-
> Current status: 1-yr stock performance (NASDAQ: GOEV): -82%

After losing three top executives and then announcing substantial risk about the company’s future in May 2022, EV SPAC Canoo took an optimistic tone in its third quarter report in November, saying Walmart has placed orders for 4,500 vehicles. All told, the company estimated it had $750 million of binding orders on the books as of the third quarter. Still, the company also said it was low on cash, and in February this year announced selling $52 million in shares to stay alive.