Tesla Inc boss Elon Musk said on Thursday that high production and balanced cash flow would be the “real test” for Rivian Automotive Inc, a day after the successful market debut of the vehicle maker. electric.
“There have been hundreds of auto, electric and thermal startups, but Tesla is (the) only US automaker to achieve high production volume and positive cash flow in the past 100 years,†Musk said. in a tweet.
Hope they will be able to achieve high production and equilibrium cash flow. This is the real test.
There have been hundreds of auto startups, both electric and thermal, but Tesla is the only U.S. automaker to achieve high production volume and positive cash flow in the past 100 years.
– Elon Musk (@elonmusk) November 11, 2021
“Hopefully they (Rivian) will be able to achieve high production and balanced cash flow. This is the real test.†Rivian has raised around $ 12 billion as part of the over large initial public offering to the world this year and its market valuation has reached over $ 100 billion. stocks surged, making it the second most valuable automaker in the United States after Tesla.
Rivian, who has just started selling his vehicles, was not immediately available to comment on Musk’s tweet.
Musk was responding to one of his supporters by pointing out that Tesla had been selling its Model Roadster for over two years with the intention of rolling out the Model S when it went public over a decade ago.
Since the IPO, Tesla has ramped up production to deliver around 500,000 cars each year, with the company entering the trillion dollar market value club last month.
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Although further back on the growth curve than Tesla and its CEO Elon Musk, here are five areas where Irvine, Calif.-Based Rivian and CEO RJ Scaringe stack up against the market leader in electric vehicles.
“We’d better grow at least as fast; it’s definitely before the end of the decade we’re thinking about it,” Scaringe said in an interview ahead of Rivian’s market debut on the Nasdaq on Wednesday.
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