Although I own a tesla and love it. I really think the Rivian is amazing. I trust they will somehow make it. They don't have a demand problem that's for sure. It's more production and cost controls.
Exactly , well explained and that shows their past due to made contracts in the past . The future will ease up chain issues and coming with it will beat their double production of vehicles be roughly 24 percent .. stock will have a huge comeback soon ..
@@mohammadwasilliterate8037 Tesla has value because of elon musk cult of personality. As soon as that fades. tesla have to compete on merit and the competition in the EV market is starting to get really spicy. If I had EV money I'm not getting tesla right now, other companies are also making great cars.
@@timber741 - Just wait until their 5000 acre plant in Georgia becomes operational. 5000 acres alone is hard to fathom. They have the full backing of the Georgia government and tons of subsidies to go along with it. Georgia badly wants the 7500 jobs Rivian will provide. It will be Georgia's largest state supported commercial development and one of the largest government backed projects in the USA ever.
@@dtna Do you own one? I do and have no panel gaps. The interior and exterior build quality is excellent. "Tis better to be thought ignorant than to open one's mouth and remove all doubt"!
I will be very surprised if Lucid makes it. I always thought Rivian had a good shot of getting to profitability before they ran out of cash but that was when they had 17 Billion in cash reserves, now??? .
Ramping, so far seems to be an exclusive feature of Tesla...and the decades of experience attributed to ICE mfg appears to be retard rather than accelerate this transition.
Yes agreed about Lucid. It will be difficult for them. Rivian has a shot. But there is not unlimited growth for Uber expensive cars. We need new, cheaper, high value electric cars.
@@justinstewart3248 - Rivian is very close to releasing two versions of their dual motor R1T & R1S. They've been extensively testing them over the last few months and they will be much more affordable than the quad motor versions.
Tesla should buy them out and use their truck and suv to help round out their offerings. Cybertruck and the r1 can live side by side as they aim at different users.
Amazon owns 17% of Rivian stock and they still have their 100,000 van order in place. Nearly every Amazon van I've seen on my street, since February, has been a Rivian van.
How long did it take Tesla to become profitable? Amazon? And any number of other large companies. Rivian will turn around eventually. They're bringing in people to help improve these issues.
I don't think there is the same kind of venture market as when those companies came into being. Much less free and easy money available. Also they are not making the market in the same way as your examples. It is not the same.
@Enrique A Thiele Solivan "The CyberTruck releade this summer, wich is more usefull and durable than all the so called "competition" #1 We don't know if it will be released this summer #2 That it is more useful is a "claim" - not a fact. Nobody has used one in rea life to prove its usefulness #3 That it is more durable is also a "claim". Surely this stainless sheet metal is going to cost a fortune to repair in a fender bender. #4 What is its MSRP? Is it going to be competitive with the Ford F150 lightning @ $51K
A ex coworker who was an engineer at Tesla was laid off a few weeks back. Yeah Rivian is in trouble if they are having a brain drain because they can’t make payroll.
The problem with all the EV cars is most of the EV cars are around 60K and more, SUVs and Trucks are around 100K and more. They need to bring EV cars around 20K to 30K
Despite their MSRPs, the current batch of EVs are not built profitability. Manufacturers rely on government mechanisms outside of production for profits. In other words, in order for EVs to be profitable, the prices must be much much higher. Instead, we're all being forced to make them profitable through emission credits, direct subsidies, tax incentives, and contextual fraud.
On average, you are right. Average new ICE car is $48k vs $66k for an EV. However, there is the Chevy Bolt and Nissan Leaf for less than $30k - way less if you factor in federal and state incentives. After that, many decent options appear in the mid-40s - which is still not affordable to many Americans. Tesla Model 3 (base model) is $42k which qualifies for the federal incentives until April 17th - so that brings it down to the mid-30s. To be fair, there aren't very many new ICE vehicles in the 20k range anymore. However, in my opinion, unless you are a net-worth millionaire, no one should be buying a new car - period. Buying an asset that rapidly depreciates is a severely bad financial decision - and doing this repeatedly is just plain stupid. The only thing worse is getting into a lease. Cars lose 20% of their value in the first year. Instead, buy 2-3 year old low-mileage used cars - your wallet will thank you. The past few years has been a temporary exception, things are starting to return to normal.
@@JasonTaylor-po5xc meanwhile, I'm stuck making sure the price for the Bolt and the Leaf is "affordable", because the per-unit cost is passed on to ICEV buyers, and to manufacturers stuck paying for carbon credits that subsidize the the production of EVs. EVs buyers should directly face the pain of per-unit production costs, to ensure they're getting the real value of their rides. Instead, I'm stuck paying for them, all at the behest of contextual fraud. To hell with that!
@@DHW256 Sounds like some Big Oil talking points. Early on, some car makers built limited run "compliance" cars to satisfy government mandates on emissions targets rather than make their cars more efficient. Additionally, some could augment that with purchasing carbon offsets from companies like Tesla. Toyota simply decided to make more efficient cars instead - which was far more effective. Adhering to the laws of the countries you choose to sell your cars is just the cost of doing business - regardless if you agree with those policies or not. Regarding the Bolt, the main thing holding it back was simply the battery recall. Both Nissan and Chevy are putting more effort into building EVs - which they would not do if that wasn't profitable or will be in the near future. This includes massive investments into new factories or re-tooling existing ones. This is largely because the success of Tesla. Are they likely subsidizing this with current ICE sales - of course. That's just good business - you use your current profits to fund future growth or risk future profits/viability. Honestly, labor is a larger component to the cost of a car than any other factor. Which is why Toyota can offer higher quality cars at a similar price with non-Union workers.
Tesla's net income in 2021: $721 milion dollars. They receiveid $1,36 billion in regulatory credits the same year. Tesla’s Chief Financial Officer, sir Zachary Kirkhorn said in an interview: “This is always an area that’s extremely difficult for us to forecast. In the long term, regulatory credit sales will not be a material part of the business, and we don’t plan the business around that. It’s possible that for a handful of additional quarters, it remains strong. It’s also possible that it’s not." And Tesla also had been in danger to run out of money in 2018. This is the tough process of a new company, but if you have some government support you could do it. Elon Musk is just playing the game. It's a rival, it's competitive and he knows his words affect the sotck value of Rivian.
If there isn't Chinese market, Tesla would bankrupt too. Rivian needs to expand its market to other countries. They can't just stay in the US market where half of the population are against EV.
Elon Musk is clearly right. He has been there and done all that. He has felt the pain of near disaster and well as the sweet taste of success. I am just surprised very few listen to him. Yes, he is a little eccentric at times but people need to see past that and learn from that. Elon will continue to make mistakes in the present and in the future and he will learn from all of them. If RIvian and Lucid got off their high horses and used Tesla's charging infrastructure and worked with Tesla, they would have gained a huge advantage over the competition. The charging infrastructure is the icing to the cake. I own and drive a Tesla Model 3 since 2019 and I drive it all the time with peace of mind. Imagine a Rivian R1T (as well as other Rivian models) owner feeling the same way. Very little advertising and marketing is required.
Sticking to my Frankenstein Toyata RAV4 prime which is not the best vehicle but at least you can take it anywhere and they can fix it. Parts are available everywhere. It runs on battery and gas. The car may not run smoothly as some other brands but at least it will survive 500k miles given I do maintenance every year. The car comes with 10 years battery warranty standard. After driving this car for 2 years I understood why Toyata don't want to go full electric. You want to have the ability to stay on the road forever
But... it should consider using some of those funds to fix supply chain issues. Develop their own companies that supply the EV and lessen dependence in outside resources wherever possible.
But China owns the battery technology. They now has the fastest charging station in the world with a battery that only they manufacture that can handle that supeeeer fast charger. And even Tesla is now buying their solid battery pack
@@rafaelrp07 "new technology"(quote) Wouldn't that mean that the surplus of obsolete batteries would be priced for clearance? Which would give a struggling company an opportunity to sell their EVs at a discount and move their inventory and still make a profit. Though the profit maybe slight- they're still operating in the black with less competition in that price range and getting drivers to advertise for them. [edit] Wouldn't the obsolete technology patent be open? Which could act as a spring board for a new team of scientists to try and improve on the concept.... while being a steady source of supply whenever better supplies are unavailable. Opening up a 2 tier pricing option.
Tesla started with the low volume original roadster and moved up from there. Rivian is acting like a high volume manufacturer without good charging infrastructure, service dept, supply chain etc.
One of those came into the shop, with a tree that had fallen on it. We had to replace a rear window, a roof, and a hood. Any other truck, easy breezy. Make money left and right. Hand-over-fist. But that truck, no way. We had never seen one of them before. And no one could give us any Collision information on it. So, we did what we could. And lost our asses on that job. About three months later, tow truck driver tried to drop one off and our lot, and skate out, like we wouldn't notice. I told him... Put that sucker back on the truck, and get it the hell out of here. Told my company, if they ever set another one of those trucks in my stall again, I'll quit. That's not something you want to hear from your top producer. But that company is going to go bankrupt anyway. From all of the lawsuits that, have been filed against them. For, calibration problems with today's vehicles. Apparently... Some of them just slam on their brakes whenever they want to. And buy some of them I mean, at least fifty-five of them. Typically, when they're getting on the highway. And crossing under, the first overpass. And there have been some fatalities. Yeah... These new cars are garbage. We've been trying to tell the automotive industry, and the country of commiefornia. All you need in a car is spark, fuel, and compression. Everything else is bullshit. But the automotive industry, and their executives, are kind of like Communists. They don't listen.
Wow , its almost like someone is trying to make Rivian bad when its at a FAR BETTER position than Tesla Ever was at the start of their production. Oh and when someone is a fanboy of the non existent cybertruck and hopeful its about to be pushed out this year, this also makes sense. 🤪
They valued a company that yet to produce a product at 150 billion? Really? There is a boat load of ev’s now from established companies, with the recession on the horizon play money is over. Bye bye
Rivian's vehicles looked great. They were spread too thin. They should have released 1 vehicle at a premium price and concentrated on getting mfg up to capacity and profitable. They should NOT be targeting cheaper vehicles. Terrible direction.
Amazon is using other trucks as well and does not want to hurt rivian since it ownes 17 percent . The contracts were made in 2018 2019 where rivian couldn’t forecast corona inflation chain problems etc . To deliver all 100000 trucks to Amazon according to their contracts would be bad so the way it is now is much better . 500 spotted already on public roads coming this year , 900 still open what I ve heard ..
Yes there's going to be a shakeout in the EV industry, prices way too high for the average consumer not counting all the challenges the industry is facing due to the fact their still in the infancy stages, ICE vehicles are still going to be the dominant mode of personal transportation at least in the near future, especially with the report of new oil drilling approved in Alaska!
ICEs short of every car having a fusion reactor will be around awhile.THe electrical grid would fail at a national level if everyone charged an EV.Besides too dam expensive.Enjoy waiting 4 hours per day to charge your battery
I like the look of the Rivan truck, but 100 grand is pretty steep. That being said, I did see one in the wild the other day, so they did beat tesla to market.
They are VERY close to releasing 2, more affordable, versions of a dual motor R1T & R1S. They've been extensively testing them over the last few months.
Waited TWO years for the Rivian truck and it was worth it!!! Elon is pissed Amazon didn't back his auto industry to make trucks for them they chose Rivian. Side Note: Tesla was just ordered to pay $3MILLION dollar racism lawsuit.
Rivian had revenue in 2021 of 55,000. In 2022 its revenue grew to $1.658 million. How they will grow revenue after that is the question. They have built an impressive automated assembly plant in a relatively short time that can produce over 60,000 vehicles per year. The demand is there and the growth in revenue will continue. It might take a few years to achieve profitability like all startups. When that happens so will the stock price follow. I have been an investor in Tesla since they went public and will continue with my investment in Rivian for the time being. I don't know what will happen to Rivian nor did I know what will happen to Tesla when I bought 1000 shares. As to Musk, I don't agree with most of what he says.
I don't understand something and please forgive my ignorance. Where does Rivian come from? I had never seen that name or the others they have had and I have never seen a product of theirs except the new ones. According to Wiki (I know it's not a reliable source) they exist since 2009 but in my life I've never seen anything identified with that name. For example Apple and Google started from the bottom and are companies with history, we know about their old products and what they have done over the years. But Rivian (unknown to me) was born out of "nothing" to operate a "public" company with multi-billion dollar facilities. Were they suppliers of any auto parts? Apart from Amazon, who else invests in that company to have created something like what they have done? Did they make cars for foreign markets? Can someone shed some light on me? Thank you.
People took his comments out of context. He didn't outright say they'd go bankrupt. He admitted that Tesla was very near bankruptcy several times (Tesla was a $5 stock in 2012). He said that Rivian has challenges, but said if they play their cards right, they will see success and he welcomes the competition.
That is simply not true. Amazon ended exclusivity, meaning that they can also use other manufacturers to build EV vans for them. The ABSOLUTELY still have a 100,000 order with Rivian & Amazon owns 17% of Rivian stock. Stop posting false info. Since February, almost every Amazon van I see on my street in SLC, UT is a Rivian van.
I was privileged and fortunate enough to drive a 2020 Toyota RAV4 Prime XSE PHEV (red )for a year until a car-full of idiots drove into me and totaled it. It was magnificent. I spent $30/month on gas. It averaged 114miles/gal/month the 13 months I had it. It was orders of magnitude more fuel-efficient than an ICE. It did not need to be a full-electric taking on all the issues that come with full-electric EVs. I believe the secret sauce that the industry, mistakenly seeking EV perfection, is missing, is that of the PHEV; it is the perfect engineering compromise. If Rivian could offer a PHEV 6-cyl (no turbo) like the RAV4 prime, and have a 60-80 mile battery (same fast-charging), it would sip gas. The company would save a lot of money by not having all that battery (cobalt mines?) to store energy for the other 250 miles or however much that people never use in a day. The truck would get people to work, lunch, back home, and burn no or little gas before pulling into the driveway. Charge overnight. Or fast charge. Then ride on that charge the next day. Being a truck, $50/month a gas, you can wave at the gas station all month long until your monthly purchase. What I write here applies to any carmaker. Produce a good enough PHEV and you won't need an EV. So far, Toyota PHEV RAV4s showed the way. Is anyone paying attention?
I enjoy most of your content Velocity, but oh boy we got an Elon worshiper here! Also what a click bait title I watched the whole thing expecting at some point to hear that Rivian is actually now bankrupt as the title implies. However it seems the whole message of this video is company X is losing money if they don't turn it around they will go bankrupt... (like DUHH). Also the CEO of company X's biggest rival (company Y) is using his popularity to tell everyone they will fail soon. Since company Y is leading the industry after narrowly avoided bankruptcy themselves a few years ago their CEO is obviously infallible. If company X wants to survive they will do as their competitor says.
Several new EV companies will go belly up. Buying stock in EVs now is like going to Vegas. Faraday Future is struggling, too. You never hear anything about them on this YT page.
RIvian was a failed company the moment Ford pulled out their financial support. It's an interesting car (the front is fugly), but way too much money. On the other hand, it's a better pickup than Ford's electric offering.
I hope they make it but the losses are alarming. With a net loss of $6,752 billion in 2022 and only 24337 vehicles produced they lost -277 437$ per vehicle made. They are expected to build 60000 vehicles for 2023... This represent one vehicles made and ready to roll every 9 minutes, this is a big challenge.
It appears that Rivian is offering too many models too soon. They need to create one vehicle. Get all the production and supply chain issues resolved and get it profitable. Then start broadening the number of offerings. Tesla started with just the roadster. The video shows, a pickup line right next to a delivery truck line. And there is also a sport utility vehicle. And they are talking about new smaller less expensive vehicles. They are going in all directions at once. They need to do just the pickup or just the delivery truck. Anything more without all of the supply chain kinks worked out will not work. The IPO success may have given them the big head, and they may have blown it.
Wrong again, Amazon still get their 100k ev vans, the contract ens exclusively because people and other companies want the ev van too they are actually working on making a smaller ev vann too demand is not a problem, the timing which rivian started production after post-pandemic is hurting every car maker
Not true. All that happened is that Amazon ended their exclusivity with Rivian so they could also use other companies to make vans for them. They still have their 100,000 order with Rivian - 1000%. The agreement also allows Rivian to make vans for companies other than just Amazon. Win, win for both sides.
Yeah, Tesla was a month from bankruptcy and they got a 485 million dollar loan from department of energy. I'm not saying Bankruptcy or financial issues aren't in their future I'm just saying take that loan away and Tesla could easily be in that same place.
Why not cut cost starting at the top pay? They plan to cut 6% head count but produce more. I imagine this is where the labor takes a hit, and if all works out, the ppl at the top get rewarded.
So the main competitors owner says it’s competitor is going to go bust? Not suspicious in the slightest. Love the fact Elon has screamed about sustainability and making it cheaper for this yet the average person still can’t afford any of his cars.
I suspect they sell it. They sell the patents for the parts so that they can be manufactured and make spare parts, I don't know, I think it's the most logical thing to do.
@@peter_shadow7559 If some of this equipment is suitable for assembly work elsewhere then another vehicle manufacturer might use it, possibly Rivian might just be leasing it?
@@adoreslaurel That also seems pretty logical too. It would be interesting to have the correct answer, although I suppose there must be more than one alternative.
Electricity production will require people to have limited usage. Once more people start using the electric method, the grid will wobble and eventually fail.
They are. They're very close to releasing the 2 motor versions of the R1T & R1S, both of which will be more affordable. You can't even order a 4 motor version right now as they are completely back-ordered.
yeah. Me too. I am down in thousands. But still do believe in this company. Their product is amazing. Its just very very hard to compete in US. Gov could be more supportive! There is a chance it will survive.. and I truly wish them success. Lucid is probably in harder situation… not sure about that market on luxury sedans..I would say they are doomed for now.
oh stop glorifying Elon. Yes, tesla is very successful, but remember that investors could have pulled out many times, but didn't because they believed in the electric car. I will hold onto Rivian stock because i believe in the electric car, and Rivian makes a far more compelling vehicle than ford.
Totally disagree. They just beat 1st quarter expectations. They forecast 50,000 this year, but Bloomberg shared that Rivian is internally expecting to build 62,000 in 2023. Far more than double 2022 production. They're also breaking ground on a 5,000 acre facility in Georgia, 7500 jobs, and full backing and subsidies from the state. Let's not forget that Amazon owns 17% of Rivian stock and has a 100,000 van order with them. Stop with the unresearched verbal diarrhea.
@@jcommerce Very few customers can afford a $ 100,000 Rivian EV and few will choose a Rivian over the Tesla Cybertruck or the Ford F150 Lightning. You don't have to take my word for it, but we can talk again in 2 years from now and see if Rivian is bankrupt at that time.
@@jcommerce Do you know how much profit Rivian makes on the R1T and R1S? They need to make at least 10% net profit to survive in the competitive EV market. Rivian said it expected to report a loss of $4.3 billion in 2023 before taking into account interest, tax and other expenses.
@Maurice Harting - yep, I sure do. I've been trading stocks for over 15 years and spend at least 6 hours per day doing research. Do you know how many companies start out delivering products or services in year 1 at a profit? Pretty much zero.
@@jcommerce Well, you are in good company for I too am trading stocks and even have 26 Tesla stocks. Yes you are right that most EV companies start out with a loss and some will grow over time making a profit. The problem is, and you may not agree with this, is that the market for EV's will grow much slower now than the early days and fewer of the big EV makers will take market share away from smaller players. BYD and Tesla are the big EV players and many of the smaller ones will die off because they cannot compete in volume and/or price. Rivian will face more and more competition in the EV truck/suv space from bigger companies who can offer more choice and lower prices. When it comes to EV trucks I think Ford F150 Lightning will be a big winner as will the Tesla Cybertruck when it comes into full production mode. Rivian is simply too expensive and as such not competitive enough at $ 100,000 per EV. Yes there are obviously some consumers who will buy a Rivian, but the company is bleeding money like crazy and will hemorrhage even more when the big EV players will offer similar products at a lower price. www.macroaxis.com/invest/ratio/RIVN/Probability-Of-Bankruptcy
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If only it was hard to find countless examples of Elon missing the mark. He is successful not because he is always right, but because he works hard and learns from mistakes. There is no indication rivian will not be a competitor and Elons truck is delayed constantly. Elon has other issues based on poor decisions earlier, too. TH-cam comment experts have forgotten that Tesla just recently started to make money
This is the most clickbait channel. CEO gets a new sweater and the title becomes "GM in big trouble, can't afford to heat corporate offices. Is this the end?" Rivian is thriving, they aren't going anywhere. Any large company needs multiple rounds of capital raising. Tesla did it not long ago!
Rivian and lucid air and Tesla need to get their acts together and become the next big 3 major car companies they need to unite and work s*** out with each other because I'm sure that the big 3 Chevy Ford and whatever Chrysler they don't want them around so they need to start working together that's my opinion in this s***
Let's see what happens when the market is flooded with BEVs in 2024 and 2025. Add in an infrastructure that has not planned for this massive influx of electric vehicles and we'll see who survives.
Is a short seller position that is undeclared? Didn’t Tesla do convertible notes? Quoting Tesla mission statement and expecting that Musk lives up to it is a joke.
The auto industry has had hundreds of bankruptcies since the beginning some 125 years ago. Electric vehicles of the current era essentially are creating a new industry and bankruptcies should be expected. The savior of these companies will be pricing that more people can afford. Get electric vehicle prices at or lower than comparable fossil fuel driven ones and they will have a better chance.
At the time of this video....yeah Rivian stock was ~$12.00.....today (06Sept2023) it is up about 100% at $23.14. I love our R1T.....rides like a dream
How’s the stock price today?
Today is below $10 my man
Although I own a tesla and love it. I really think the Rivian is amazing. I trust they will somehow make it. They don't have a demand problem that's for sure. It's more production and cost controls.
Tesla is the absolute best at making a profit and they almost went broke si RIVIAN is a stretch😂😂😂😂😂
Exactly , well explained and that shows their past due to made contracts in the past . The future will ease up chain issues and coming with it will beat their double production of vehicles be roughly 24 percent .. stock will have a huge comeback soon ..
@@mohammadwasilliterate8037 Tesla has value because of elon musk cult of personality. As soon as that fades. tesla have to compete on merit and the competition in the EV market is starting to get really spicy. If I had EV money I'm not getting tesla right now, other companies are also making great cars.
@@mohammadwasilliterate8037 th-cam.com/video/jwzukZveKsI/w-d-xo.html. Looks like Rivian is doing ok
@@timber741 - Just wait until their 5000 acre plant in Georgia becomes operational. 5000 acres alone is hard to fathom. They have the full backing of the Georgia government and tons of subsidies to go along with it. Georgia badly wants the 7500 jobs Rivian will provide. It will be Georgia's largest state supported commercial development and one of the largest government backed projects in the USA ever.
I have seen a lot more Rivians lately. Still way out of my price range but they look nice.
They look good, but have poor build quality. I have seen uneven panel gaps, like on a Dodge.
@@dtna Do you own one? I do and have no panel gaps. The interior and exterior build quality is excellent. "Tis better to be thought ignorant than to open one's mouth and remove all doubt"!
I owned a Tesla s plaid .. looks not bad but rivian R1S is another story especially of the insides ..
@Melvin Holland you are a sample size of one Rivian. Remember that when you jump up on your soap box and embarrass yourself.
@@carbonking53 No embarrassment here homie. My sample size is one and yours is zero since you don't own one. Just talking crap and knowing nothing.
I will be very surprised if Lucid makes it. I always thought Rivian had a good shot of getting to profitability before they ran out of cash but that was when they had 17 Billion in cash reserves, now???
.
Ramping, so far seems to be an exclusive feature of Tesla...and the decades of experience attributed to ICE mfg appears to be retard rather than accelerate this transition.
They have the backing of Amazon which owns 17% of Rivian stock and their 100,000 van order remains in place.
Yes agreed about Lucid. It will be difficult for them. Rivian has a shot. But there is not unlimited growth for Uber expensive cars. We need new, cheaper, high value electric cars.
@@justinstewart3248 - Rivian is very close to releasing two versions of their dual motor R1T & R1S. They've been extensively testing them over the last few months and they will be much more affordable than the quad motor versions.
Tesla should buy them out and use their truck and suv to help round out their offerings. Cybertruck and the r1 can live side by side as they aim at different users.
If not buy them out, at least invest to the point of a majority. I think Elon is their only hope.
Amazon owns 17% of Rivian stock and they still have their 100,000 van order in place. Nearly every Amazon van I've seen on my street, since February, has been a Rivian van.
No. Let him focus on Tesla. Isn't Rivian worth more than Ford? Better use that money for R&D research.
I think there's more chance that Bezos would buy them out or invest more if it came down to it due to the $ they've already put in
How long did it take Tesla to become profitable? Amazon? And any number of other large companies. Rivian will turn around eventually. They're bringing in people to help improve these issues.
I don't think there is the same kind of venture market as when those companies came into being. Much less free and easy money available. Also they are not making the market in the same way as your examples. It is not the same.
Unlike Tesla, Rivian and Lucid have no path to profitability because the cannot scale and dive costs down. Unfortunately they are hosed.
@Enrique A Thiele Solivan "The CyberTruck releade this summer, wich is more usefull and durable than all the so called "competition"
#1 We don't know if it will be released this summer
#2 That it is more useful is a "claim" - not a fact. Nobody has used one in rea life to prove its usefulness
#3 That it is more durable is also a "claim". Surely this stainless sheet metal is going to cost a fortune to repair in a fender bender.
#4 What is its MSRP? Is it going to be competitive with the Ford F150 lightning @ $51K
Your examples would've been nice if Rivian was doing something innovative...
A ex coworker who was an engineer at Tesla was laid off a few weeks back. Yeah Rivian is in trouble if they are having a brain drain because they can’t make payroll.
The problem with all the EV cars is most of the EV cars are around 60K and more, SUVs and Trucks are around 100K and more. They need to bring EV cars around 20K to 30K
Despite their MSRPs, the current batch of EVs are not built profitability. Manufacturers rely on government mechanisms outside of production for profits. In other words, in order for EVs to be profitable, the prices must be much much higher. Instead, we're all being forced to make them profitable through emission credits, direct subsidies, tax incentives, and contextual fraud.
Yeah, nobody told Governor Newsom that. Or maybe he couldn't do the math because of his dyslexia.
On average, you are right. Average new ICE car is $48k vs $66k for an EV. However, there is the Chevy Bolt and Nissan Leaf for less than $30k - way less if you factor in federal and state incentives. After that, many decent options appear in the mid-40s - which is still not affordable to many Americans. Tesla Model 3 (base model) is $42k which qualifies for the federal incentives until April 17th - so that brings it down to the mid-30s. To be fair, there aren't very many new ICE vehicles in the 20k range anymore.
However, in my opinion, unless you are a net-worth millionaire, no one should be buying a new car - period. Buying an asset that rapidly depreciates is a severely bad financial decision - and doing this repeatedly is just plain stupid. The only thing worse is getting into a lease. Cars lose 20% of their value in the first year. Instead, buy 2-3 year old low-mileage used cars - your wallet will thank you. The past few years has been a temporary exception, things are starting to return to normal.
@@JasonTaylor-po5xc meanwhile, I'm stuck making sure the price for the Bolt and the Leaf is "affordable", because the per-unit cost is passed on to ICEV buyers, and to manufacturers stuck paying for carbon credits that subsidize the the production of EVs.
EVs buyers should directly face the pain of per-unit production costs, to ensure they're getting the real value of their rides. Instead, I'm stuck paying for them, all at the behest of contextual fraud. To hell with that!
@@DHW256 Sounds like some Big Oil talking points.
Early on, some car makers built limited run "compliance" cars to satisfy government mandates on emissions targets rather than make their cars more efficient. Additionally, some could augment that with purchasing carbon offsets from companies like Tesla. Toyota simply decided to make more efficient cars instead - which was far more effective. Adhering to the laws of the countries you choose to sell your cars is just the cost of doing business - regardless if you agree with those policies or not.
Regarding the Bolt, the main thing holding it back was simply the battery recall. Both Nissan and Chevy are putting more effort into building EVs - which they would not do if that wasn't profitable or will be in the near future. This includes massive investments into new factories or re-tooling existing ones. This is largely because the success of Tesla.
Are they likely subsidizing this with current ICE sales - of course. That's just good business - you use your current profits to fund future growth or risk future profits/viability. Honestly, labor is a larger component to the cost of a car than any other factor. Which is why Toyota can offer higher quality cars at a similar price with non-Union workers.
I’ve seen 2 Rivians in my town this week, they look great.
I own an R1T and the other day I saw 5 others while driving around in SLC, UT
Tesla's net income in 2021: $721 milion dollars. They receiveid $1,36 billion in regulatory credits the same year. Tesla’s Chief Financial Officer, sir Zachary Kirkhorn said in an interview: “This is always an area that’s extremely difficult for us to forecast. In the long term, regulatory credit sales will not be a material part of the business, and we don’t plan the business around that. It’s possible that for a handful of additional quarters, it remains strong. It’s also possible that it’s not." And Tesla also had been in danger to run out of money in 2018. This is the tough process of a new company, but if you have some government support you could do it. Elon Musk is just playing the game. It's a rival, it's competitive and he knows his words affect the sotck value of Rivian.
If there isn't Chinese market, Tesla would bankrupt too. Rivian needs to expand its market to other countries. They can't just stay in the US market where half of the population are against EV.
I wish Rivian well. I think they make a great product. It's out of my price range though.
Also makes sense that Elon wants to throw shade on Rivian, it's his competition.
Seeing a lot of Riv pickups on the road in my neighborhood, Berkeley, CA!
Elon Musk is clearly right. He has been there and done all that. He has felt the pain of near disaster and well as the sweet taste of success. I am just surprised very few listen to him. Yes, he is a little eccentric at times but people need to see past that and learn from that. Elon will continue to make mistakes in the present and in the future and he will learn from all of them. If RIvian and Lucid got off their high horses and used Tesla's charging infrastructure and worked with Tesla, they would have gained a huge advantage over the competition. The charging infrastructure is the icing to the cake. I own and drive a Tesla Model 3 since 2019 and I drive it all the time with peace of mind. Imagine a Rivian R1T (as well as other Rivian models) owner feeling the same way. Very little advertising and marketing is required.
Sticking to my Frankenstein Toyata RAV4 prime which is not the best vehicle but at least you can take it anywhere and they can fix it. Parts are available everywhere. It runs on battery and gas. The car may not run smoothly as some other brands but at least it will survive 500k miles given I do maintenance every year. The car comes with 10 years battery warranty standard. After driving this car for 2 years I understood why Toyata don't want to go full electric. You want to have the ability to stay on the road forever
But... it should consider using some of those funds to fix supply chain issues. Develop their own companies that supply the EV and lessen dependence in outside resources wherever possible.
But China owns the battery technology. They now has the fastest charging station in the world with a battery that only they manufacture that can handle that supeeeer fast charger. And even Tesla is now buying their solid battery pack
@@rafaelrp07 "new technology"(quote) Wouldn't that mean that the surplus of obsolete batteries would be priced for clearance? Which would give a struggling company an opportunity to sell their EVs at a discount and move their inventory and still make a profit. Though the profit maybe slight- they're still operating in the black with less competition in that price range and getting drivers to advertise for them.
[edit] Wouldn't the obsolete technology patent be open? Which could act as a spring board for a new team of scientists to try and improve on the concept.... while being a steady source of supply whenever better supplies are unavailable.
Opening up a 2 tier pricing option.
Nice vehicles ,hope they succeed they fill a hole others have yet to address.
It's really hard for companies to match Tesla's profitability, but they need to do it.
they can't
Why
Tesla loses money on each car...they get federal credits...
@@tsmatthx2 they are now profitable without credit.
And don't forget, every automaker is eligible for same credits
@@godfreyogwuche2209 no, and libtards made new terrible regulations banning credits to vehicles not produced on US soil.
Hope Rivian does what it has to do to succeed.
Tesla started with the low volume original roadster and moved up from there. Rivian is acting like a high volume manufacturer without good charging infrastructure, service dept, supply chain etc.
One of those came into the shop, with a tree that had fallen on it.
We had to replace a rear window, a roof, and a hood. Any other truck, easy breezy. Make money left and right. Hand-over-fist. But that truck, no way. We had never seen one of them before. And no one could give us any Collision information on it. So, we did what we could. And lost our asses on that job. About three months later, tow truck driver tried to drop one off and our lot, and skate out, like we wouldn't notice. I told him... Put that sucker back on the truck, and get it the hell out of here. Told my company, if they ever set another one of those trucks in my stall again, I'll quit.
That's not something you want to hear from your top producer.
But that company is going to go bankrupt anyway. From all of the lawsuits that, have been filed against them. For, calibration problems with today's vehicles. Apparently... Some of them just slam on their brakes whenever they want to. And buy some of them I mean, at least fifty-five of them. Typically, when they're getting on the highway. And crossing under, the first overpass. And there have been some fatalities. Yeah... These new cars are garbage.
We've been trying to tell the automotive industry, and the country of commiefornia. All you need in a car is spark, fuel, and compression. Everything else is bullshit.
But the automotive industry, and their executives, are kind of like Communists.
They don't listen.
Stock bottomed at $11.68. Just calling it right here. Probably will be $100+ in a few years.
Wow , its almost like someone is trying to make Rivian bad when its at a FAR BETTER position than Tesla Ever was at the start of their production.
Oh and when someone is a fanboy of the non existent cybertruck and hopeful its about to be pushed out this year, this also makes sense. 🤪
They valued a company that yet to produce a product at 150 billion? Really? There is a boat load of ev’s now from established companies, with the recession on the horizon play money is over. Bye bye
You really don't know how stock prices work.
Rivian's vehicles looked great. They were spread too thin. They should have released 1 vehicle at a premium price and concentrated on getting mfg up to capacity and profitable.
They should NOT be targeting cheaper vehicles.
Terrible direction.
You're wrong. 1 vehicle at low price would have worked better
The exact opposite of what made Henry Ford a manufacturing icon.
Consider business 101 as a start.
Disagree completely. Why, then, is Musk focused on making a $30 -$40k version of Tesla??
Amazon is using other trucks as well and does not want to hurt rivian since it ownes 17 percent . The contracts were made in 2018 2019 where rivian couldn’t forecast corona inflation chain problems etc . To deliver all 100000 trucks to Amazon according to their contracts would be bad so the way it is now is much better . 500 spotted already on public roads coming this year , 900 still open what I ve heard ..
Almost every Prime van I've seen on my street in SLC, UT since February has been a Rivian van.
He knows man. Well said
Yes there's going to be a shakeout in the EV industry, prices way too high for the average consumer not counting all the challenges the industry is facing due to the fact their still in the infancy stages, ICE vehicles are still going to be the dominant mode of personal transportation at least in the near future, especially with the report of new oil drilling approved in Alaska!
ICEs short of every car having a fusion reactor will be around awhile.THe electrical grid would fail at a national level if everyone charged an EV.Besides too dam expensive.Enjoy waiting 4 hours per day to charge your battery
I like the look of the Rivan truck, but 100 grand is pretty steep. That being said, I did see one in the wild the other day, so they did beat tesla to market.
They are VERY close to releasing 2, more affordable, versions of a dual motor R1T & R1S. They've been extensively testing them over the last few months.
Waited TWO years for the Rivian truck and it was worth it!!! Elon is pissed Amazon didn't back his auto industry to make trucks for them they chose Rivian. Side Note: Tesla was just ordered to pay $3MILLION dollar racism lawsuit.
Rivian had revenue in 2021 of 55,000. In 2022 its revenue grew to $1.658 million. How they will grow revenue after that is the question. They have built an impressive automated assembly plant in a relatively short time that can produce over 60,000 vehicles per year. The demand is there and the growth in revenue will continue. It might take a few years to achieve profitability like all startups. When that happens so will the stock price follow. I have been an investor in Tesla since they went public and will continue with my investment in Rivian for the time being. I don't know what will happen to Rivian nor did I know what will happen to Tesla when I bought 1000 shares. As to Musk, I don't agree with most of what he says.
If you buy a Rivian and they go belly up then what. The resale price will plummet because you’ll never be able to get repairs done.
Well, 4 month later. I guess they are still around, right?
Get rid of those dumb oval headlights.
I don't understand something and please forgive my ignorance. Where does Rivian come from? I had never seen that name or the others they have had and I have never seen a product of theirs except the new ones. According to Wiki (I know it's not a reliable source) they exist since 2009 but in my life I've never seen anything identified with that name. For example Apple and Google started from the bottom and are companies with history, we know about their old products and what they have done over the years. But Rivian (unknown to me) was born out of "nothing" to operate a "public" company with multi-billion dollar facilities. Were they suppliers of any auto parts? Apart from Amazon, who else invests in that company to have created something like what they have done? Did they make cars for foreign markets? Can someone shed some light on me? Thank you.
Rivian can make it they just need to be more affordable and better quality control.
Rivian and Lucid need to merge. Together they really could be a force to reckon with.
Like goku and vegeta?
Looks like Elon is right a lot.
People took his comments out of context. He didn't outright say they'd go bankrupt. He admitted that Tesla was very near bankruptcy several times (Tesla was a $5 stock in 2012). He said that Rivian has challenges, but said if they play their cards right, they will see success and he welcomes the competition.
I haven’t seen a rivian truck for sale anywhere under $70k… you could buy Ram TRX for that price
Yeah! They’re the same thing!
@@gene978 why buy a rivian over a super truck then? No one who pays that much for a truck cares about MPG
And they are STILL losing a lot of money on every one.
Amazon cut their orders for the Rivian Van by 90%, that can't be good
I still see them on the road in California. That is a sad omen
Is that true? I read they just ended exclusivity, but Amazon still has an order for 100k vans by 2030.
your a fying Lyar, they cut 9000 employees and now another 18,000 employees not cutting Vans, do not make false facts
That is simply not true. Amazon ended exclusivity, meaning that they can also use other manufacturers to build EV vans for them. The ABSOLUTELY still have a 100,000 order with Rivian & Amazon owns 17% of Rivian stock. Stop posting false info. Since February, almost every Amazon van I see on my street in SLC, UT is a Rivian van.
Always listen to a competitor of a company for unbiased information...
I have faith in Rivian still.
But don't buy if your car battery damage. Who will replace?
I was privileged and fortunate enough to drive a 2020 Toyota RAV4 Prime XSE PHEV (red )for a year until a car-full of idiots drove into me and totaled it. It was magnificent. I spent $30/month on gas. It averaged 114miles/gal/month the 13 months I had it. It was orders of magnitude more fuel-efficient than an ICE. It did not need to be a full-electric taking on all the issues that come with full-electric EVs. I believe the secret sauce that the industry, mistakenly seeking EV perfection, is missing, is that of the PHEV; it is the perfect engineering compromise. If Rivian could offer a PHEV 6-cyl (no turbo) like the RAV4 prime, and have a 60-80 mile battery (same fast-charging), it would sip gas. The company would save a lot of money by not having all that battery (cobalt mines?) to store energy for the other 250 miles or however much that people never use in a day. The truck would get people to work, lunch, back home, and burn no or little gas before pulling into the driveway. Charge overnight. Or fast charge. Then ride on that charge the next day. Being a truck, $50/month a gas, you can wave at the gas station all month long until your monthly purchase. What I write here applies to any carmaker. Produce a good enough PHEV and you won't need an EV. So far, Toyota PHEV RAV4s showed the way. Is anyone paying attention?
Tesla be wise to buy Rivian.
I would buy an R1T today. But I live in Germany and they do not sell them there. Too bad!
I enjoy most of your content Velocity, but oh boy we got an Elon worshiper here! Also what a click bait title I watched the whole thing expecting at some point to hear that Rivian is actually now bankrupt as the title implies. However it seems the whole message of this video is company X is losing money if they don't turn it around they will go bankrupt... (like DUHH). Also the CEO of company X's biggest rival (company Y) is using his popularity to tell everyone they will fail soon. Since company Y is leading the industry after narrowly avoided bankruptcy themselves a few years ago their CEO is obviously infallible. If company X wants to survive they will do as their competitor says.
Several new EV companies will go belly up. Buying stock in EVs now is like going to Vegas. Faraday Future is struggling, too. You never hear anything about them on this YT page.
Eggzactly. There is always going to be a weeding out.
RIvian was a failed company the moment Ford pulled out their financial support. It's an interesting car (the front is fugly), but way too much money. On the other hand, it's a better pickup than Ford's electric offering.
I love you rivian from turkey.. I haven't rivian but I have $RIVN...
Should have mentioned Rivian’s range while towing is unacceptable.
I hope they make it but the losses are alarming. With a net loss of $6,752 billion in 2022 and only 24337 vehicles produced they lost -277 437$ per vehicle made. They are expected to build 60000 vehicles for 2023... This represent one vehicles made and ready to roll every 9 minutes, this is a big challenge.
It appears that Rivian is offering too many models too soon. They need to create one vehicle. Get all the production and supply chain issues resolved and get it profitable. Then start broadening the number of offerings. Tesla started with just the roadster. The video shows, a pickup line right next to a delivery truck line. And there is also a sport utility vehicle. And they are talking about new smaller less expensive vehicles. They are going in all directions at once. They need to do just the pickup or just the delivery truck. Anything more without all of the supply chain kinks worked out will not work. The IPO success may have given them the big head, and they may have blown it.
The divination is horribly ugly!!! Great video though, thank you sir.
I saw that Amazon cut the number of vans they were going to by from Rivian from 100K to maybe 10K.
Wrong again, Amazon still get their 100k ev vans, the contract ens exclusively because people and other companies want the ev van too they are actually working on making a smaller ev vann too demand is not a problem, the timing which rivian started production after post-pandemic is hurting every car maker
The Amazon problem! It's real.
Not true. All that happened is that Amazon ended their exclusivity with Rivian so they could also use other companies to make vans for them. They still have their 100,000 order with Rivian - 1000%. The agreement also allows Rivian to make vans for companies other than just Amazon. Win, win for both sides.
That was 10K for 2023, the 100K are deliveries by 2030.
Yeah, Tesla was a month from bankruptcy and they got a 485 million dollar loan from department of energy. I'm not saying Bankruptcy or financial issues aren't in their future I'm just saying take that loan away and Tesla could easily be in that same place.
Rivian started with pickup truck while tesla still has not launched cybertruck.
I looked at the Suv yesterday and it said delivery in 2024. Who's signing up for that?
It's the matter of choice that people make, a Tesla car, a cyber truck or a rivian. That's what matters the most.
Why not cut cost starting at the top pay?
They plan to cut 6% head count but produce more.
I imagine this is where the labor takes a hit, and if all works out, the ppl at the top get rewarded.
How do we make the car industry truly competitive? Get rid of the government's idiotic notions of control, credits, smoke and mirrors.
Rivian stock was WAY TOO HIGH. Tesla stock is also too high. People are so stupid.😂🤦♂️
So the main competitors owner says it’s competitor is going to go bust? Not suspicious in the slightest. Love the fact Elon has screamed about sustainability and making it cheaper for this yet the average person still can’t afford any of his cars.
If they go bust, what happens to all the equipment used to make the vehicles?
I suspect they sell it. They sell the patents for the parts so that they can be manufactured and make spare parts, I don't know, I think it's the most logical thing to do.
@@peter_shadow7559 If some of this equipment is suitable for assembly work elsewhere then another vehicle manufacturer might use it, possibly Rivian might just be leasing it?
@@adoreslaurel That also seems pretty logical too. It would be interesting to have the correct answer, although I suppose there must be more than one alternative.
It's sad. Their trucks actually look 1000% better than that hideous pickup truck that Tesla designers came up with. I love Tesla and Elon but sheesh!!
Form follows function. The Cybertruck will outperform and outsell all others.
Electricity production will require people to have limited usage. Once more people start using the electric method, the grid will wobble and eventually fail.
Rivian needs to make something a bit more affordable or become the new Schwinn since they are making bikes. 😊
I suggest Rivian to shorten the wheelbase.
They are. They're very close to releasing the 2 motor versions of the R1T & R1S, both of which will be more affordable. You can't even order a 4 motor version right now as they are completely back-ordered.
Musk should take dance lessons.
Rivian sucks for taking so long to produce cars.
damn it...I got stocks in this.
yeah. Me too. I am down in thousands. But still do believe in this company. Their product is amazing. Its just very very hard to compete in US. Gov could be more supportive! There is a chance it will survive.. and I truly wish them success. Lucid is probably in harder situation… not sure about that market on luxury sedans..I would say they are doomed for now.
@@ingvarTer valued at $13 each...yay!
EVs are more expensive to buy and now more expensive to run!!
oh stop glorifying Elon. Yes, tesla is very successful, but remember that investors could have pulled out many times, but didn't because they believed in the electric car. I will hold onto Rivian stock because i believe in the electric car, and Rivian makes a far more compelling vehicle than ford.
RETIRED 78, USAF ,VFW, CREW CHIEF. MANUFACTURING IS HARD, (LEON).
Rivian will succeed..
Rivian is overpriced and will not sell in large numbers to sustain itself. It will go bankrupt in about a year or two from now.
Totally disagree. They just beat 1st quarter expectations. They forecast 50,000 this year, but Bloomberg shared that Rivian is internally expecting to build 62,000 in 2023. Far more than double 2022 production. They're also breaking ground on a 5,000 acre facility in Georgia, 7500 jobs, and full backing and subsidies from the state. Let's not forget that Amazon owns 17% of Rivian stock and has a 100,000 van order with them. Stop with the unresearched verbal diarrhea.
@@jcommerce Very few customers can afford a $ 100,000 Rivian EV and few will choose a Rivian over the Tesla Cybertruck or the Ford F150 Lightning.
You don't have to take my word for it, but we can talk again in 2 years from now and see if Rivian is bankrupt at that time.
@@jcommerce Do you know how much profit Rivian makes on the R1T and R1S?
They need to make at least 10% net profit to survive in the competitive EV market.
Rivian said it expected to report a loss of $4.3 billion in 2023 before taking into account interest, tax and other expenses.
@Maurice Harting - yep, I sure do. I've been trading stocks for over 15 years and spend at least 6 hours per day doing research. Do you know how many companies start out delivering products or services in year 1 at a profit? Pretty much zero.
@@jcommerce Well, you are in good company for I too am trading stocks and even have 26 Tesla stocks.
Yes you are right that most EV companies start out with a loss and some will grow over time making a profit.
The problem is, and you may not agree with this, is that the market for EV's will grow much slower now than the early days and fewer of the big EV makers will take market share away from smaller players. BYD and Tesla are the big EV players and many of the smaller ones will die off because they cannot compete in volume and/or price.
Rivian will face more and more competition in the EV truck/suv space from bigger companies who can offer more choice and lower prices.
When it comes to EV trucks I think Ford F150 Lightning will be a big winner as will the Tesla Cybertruck when it comes into full production mode.
Rivian is simply too expensive and as such not competitive enough at $ 100,000 per EV.
Yes there are obviously some consumers who will buy a Rivian, but the company is bleeding money like crazy and will hemorrhage even more when the big EV players will offer similar products at a lower price.
www.macroaxis.com/invest/ratio/RIVN/Probability-Of-Bankruptcy
They cut their orders down to 30%, for the business quarter. Will find out come June if its a bust.
GM or Apple should pick em up.
They may be a great vehicles but to me the front end has to be the ugliest out there
Tesla does not want Rivian to succeed. They are literally suing them
A partnership with Tesla is probably inevitable.
50000 a year? That ain't much comparted to Tesla.
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Rivain will break even shortly. Tesla is killing it with the Y model, but the X and S are dying with no demand.
Only time will tell whether Elon is right!! Wait and see.
If only it was hard to find countless examples of Elon missing the mark. He is successful not because he is always right, but because he works hard and learns from mistakes. There is no indication rivian will not be a competitor and Elons truck is delayed constantly. Elon has other issues based on poor decisions earlier, too. TH-cam comment experts have forgotten that Tesla just recently started to make money
Stock up today by 5%.... Click bate.....
This is the most clickbait channel. CEO gets a new sweater and the title becomes "GM in big trouble, can't afford to heat corporate offices. Is this the end?"
Rivian is thriving, they aren't going anywhere. Any large company needs multiple rounds of capital raising. Tesla did it not long ago!
Rivian and lucid air and Tesla need to get their acts together and become the next big 3 major car companies they need to unite and work s*** out with each other because I'm sure that the big 3 Chevy Ford and whatever Chrysler they don't want them around so they need to start working together that's my opinion in this s***
How long before Rivian stock hits penny stocks
Let's see what happens when the market is flooded with BEVs in 2024 and 2025. Add in an infrastructure that has not planned for this massive influx of electric vehicles and we'll see who survives.
Is a short seller position that is undeclared?
Didn’t Tesla do convertible notes?
Quoting Tesla mission statement and expecting that Musk lives up to it is a joke.
Sounds like Musk is worried about Rivian's competition. Musk had to raise funds and he made it so why the bad talk of Rivian raising funds.
Amazon is a huge investor in rivian so it’s not gonna fall through Jeff bezos would just buy it outright instead of being a head investor
The auto industry has had hundreds of bankruptcies since the beginning some 125 years ago. Electric vehicles of the current era essentially are creating a new industry and bankruptcies should be expected. The savior of these companies will be pricing that more people can afford. Get electric vehicle prices at or lower than comparable fossil fuel driven ones and they will have a better chance.
rivian tried to buy the car market unfortunately that doesnt work and it just ends up being a giant cash cow
Before Elon goes to sleep at night he checks under the bed to make sure there are no bankruptcies hiding there.
rivian has the budget. Just invested back in the company.
R.I.P. stock holder. But they still have a pulse.
I don’t buy this. Rivian will survive and flourish under Amazons umbrella. 💪💪
6:10. Tesla is like Bitcoin, making its superior, advanced technology "open source"
amazon will keep them afloat, no? same way they bought ships