Demand And Backlog DeteriorationCustomer cancellations and a substantial reduction in the order backlog have weakened revenue visibility and signaled lower near-term demand for the main business segment.
Strategic Deal Collapse And China PresenceTermination of the strategic deal with FountainVest removed a key pathway for expanding presence in China, reducing access to local OEM relationships that are important for EV market growth.
Trade And Tariff HeadwindsHigh export tariffs, tighter import rules and tariffs on key input materials are creating margin pressure and complicating international sales from manufacturing sites.