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Rivian is one of the hottest electric pickup truck makers around with a sky-high Tesla-esque valuation. CEO RJ Scaringe has been supercharging the company with growth by building out battery and powertrain manufacturing facilities, a service and charging network, and having Rivian make their own components such as electric motors. While Rivian is moving at full speed, the company is also burning cash like crazy, losing $2.4 billion in the most recent quarter. However the EV maker has an INCREDIBLE amount of cash, over $18B, which can sustain their losses for years.
On the other hand, Tesla isn't sitting quietly. With considerably more scale than not only Rivian, but out of anyone in the world, CEO Elon Musk and Tesla are waiting for the right time to release its Cybertruck - a vehicle that may spell disaster for Rivian. The Tesla Cybertruck is already going after Rivian's adventure/camping niche, and Tesla will actually be able to scale this vehicle given its MASSIVE battery production plans. Rivian is also making a number of mistakes that Elon Musk has made in the past, such as growing too quickly and adding too much complexity into the mix.
#Tesla #ElonMusk #Rivian

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