The EV market is an interesting one. I submit that electric motors and automotive chassis are fairly mature technologies. You're not going to get a sudden, dramatic increase in performance from those. Continued incremental improvements are likely to be the order of the day.
So the EV market will belong to whoever makes a breakthrough in battery cost or energy density. I don't know when/if that's coming, but I'm skeptical that a $15 million investment will bring about a significant improvement in battery technology that can be scaled to mass manufacture. But I've been wrong before.
So yes, I'd bet on the end product sucking.