Elon Musk Was Right About Rivian | Bankrupt?!

Elon Musk gave the Rivian team a warning several months ago, and it looks like they haven't been able to act fast enough to avoid their fate. The EV maker backed by Amazon and Ford has serious issues, and as we enter an economical pullback, it could be the end. Today, we dive into this and give you an update on what Elon Musk has said.

[schlotdoglaser]

At the time of this video....yeah Rivian stock was (06Sept2023) it is up about 100% at $23.14. I love our like a dream

[markoakes]

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???
.

[TheShadokai]

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.

[michelr.]

I have seen a lot more Rivians lately. Still way out of my price range but they look nice.

[donaldsearing]

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.

[brycedunlap]

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.

[zgdafzgdaf]

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.

[revivalworship]

Seeing a lot of Riv pickups on the road in my neighborhood, Berkeley, CA!

[coldnnh]

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

[russellash]

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

[whoeverwhoever]

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.

[rafaelrp]

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.

[Chief_]

I’ve seen 2 Rivians in my town this week, they look great.

[dwayneharris]

I wish Rivian well. I think they make a great product. It's out of my price range though.

[brianswille]

Also makes sense that Elon wants to throw shade on Rivian, it's his competition.

[bertveilleux]

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.

[miakiceh]

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.

[mr.mckinnon]

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.

[ohmygosh]

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

[ralphwagenet]

It's really hard for companies to match Tesla's profitability, but they need to do it.