Electric car stocks are at a standstill, and many of them will no longer be able to get started.

Yes, things are so bad for aspiring electric car makers that they are trying to become the next Tesla. The culprit is rising interest rates and falling stock prices, which have essentially robbed them of the ability to raise the cash needed to finance car development. And now it looks like many of them won’t be able to survive the impending shakeout.

Take for example Arrival, which fell 36% on Tuesday, closing down just 38 cents a share, after reporting larger-than-expected losses. The company also warned that it doesn’t have enough cash to fund operations next year. Arrival is not alone in this predicament. Faraday Future Intelligent Electric also warned of its ability to continue as a “going concern” in its financial documents, as did Canoo GOEV.

However, some of them may have the cash they need thanks to generous outside benefactors, i.e., investors. Lordstown Motors RIDE also has the wording “going concern” in its documents, but this week it managed to raise new money from Hon Hai Precision Industry, better known as Foxconn. This isn’t the first time Foxconn has come to Lordstown’s rescue: a year ago, Hon Hai bought the Lordstown manufacturing complex and is contractually assembling Endurance trucks for Lordstown. Having a capital provider like Foxconn gives Lordstown a fighting chance, but that doesn’t mean that Lordstown stock, which is down 50 percent in 2022, will come back. Foxconn doesn’t have to invest more money at current prices.

The future of EVs is coming, but predicting the ultimate winners will be difficult.