Elon Musk says that Lucid and Rivian are tracking toward bankruptcy

[Count Orlok]

Possible but not a coincidence that Tesla raises their prices 5-6% a day or 2 later. More likely he was looking for a softer landing to that news since they just raised prices in March.

he also is dealing with a couple new lawsuits in the past few days so, yah, mr. superbadfeeling is merely trying to distract social media feeds.

 

[drstancpa]

Elon Musk is a genius, innovator, and disruptor...and he's going to innovate his way into Club Fed courtesy of the SEC and Justice Department if someone doesn't start being his chaperone.

 

[Ryan.mulligan]

He's the sole reason I got rid of my Model Y and now have my R1T.

 

[Gator42]

Elon Musk is a genius, innovator, and disruptor...and he's going to innovate his way into Club Fed courtesy of the SEC and Justice Department if someone doesn't start being his chaperone.

Now that Musk has declared his political preferences place him on the opposite side of the aisle from those currently in charge of those places he and any future chaperone are likely both in for it...

 

[Trekkie]

We sold our model X early because of his antics, I figured I'll take advantage of the fact I'm not doing anything and it's worth a lot. The recent price increases have made sure I'll never buy another one, $120k for the same vehicle new is nuts. It was barely worth the $89k I paid for it.

 

[acacia1602]

People complained about that phone without a keyboard too.

Change is hard, but you'll come around. Or maybe you still use a blackberry?

No, this is spot on. Some things are better analog. I’ve had my Model Y for 16 months and hate the AC controls. They would have been better off engineering the air filters and condenser so it didn’t belch a nasty smell after 6 months of use.

 

[kevinR1Tx2R1Sx1]

I think the infotainment and lack of physical controls has the potential to kill Rivian unless something changes. There are a lot of people that don't like change, and if you want to succeed long-term, you can't just go after the tech-savvy people as that's really limiting your market. There are a lot of us that just want a no-nonsense vehicle that simply works without all the gadgetry.

This is an astute observation. I bought two Rivians. Both delivered. I love this truck. And my wife loves riding in it but she won’t drive hers. Says it is “too complicated”. She will probably get there, but for now she prefers her 2015 highlander with 110,000 miles. She is a max person so getting CarPlay would be huge in her Rivian adoption effort.

 

[kevinR1Tx2R1Sx1]

I could care less what the world's most famous $hitposter thinks about almost anything. Rivian still has some tough years in front of them to really prove they "made it", and they have definitely made a bunch of unforced errors along the way, but I really feel they tried their best to build a company that can last. They are not vaporware like Nikola, Canoo, or Fisker. They also have products that people actually want. Rivian has the IL factory and a pretty sweet deal for that GA factory as well. As long as they keep putting vehicles out and improving the service experience they will be ok.

I agree with this. So many people I know would buy one if there was no wait.

 

[Kaprice]

Amazon's investment is the only thing keeping me bullish on Rivian's long term survival.

 

[RickInPC]

I think the infotainment and lack of physical controls has the potential to kill Rivian unless something changes. There are a lot of people that don't like change, and if you want to succeed long-term, you can't just go after the tech-savvy people as that's really limiting your market. There are a lot of us that just want a no-nonsense vehicle that simply works without all the gadgetry.

what you're describing is the Lightning. And its why I've pre ordered one - I have little confidence that Rivian is listening to us complain about the nav and infotainment - I live and drive in the mountains - which is precisely the region this truck targets - how stupid is a vehicle that relies on wifi but is guaranteed to lose said wifi connection which is needed to essentially listen to music, operate the nav, etc. Ford has the advantage of the best selling truck - it knows its customers - and while I've replaced my f150 w/ the Rivian, its a stop gap until/unless Rivian starts listening.

 

[willpollock]

is Elon too dumb to remember Tesla hemorrhaged cash in the beginning? or maybe it's convenient amnesia. either way:

• 2015: Tesla burns cash, loses more than $4k per car
• 2018: Tesla posts record loss of $710M
• 2019: Tesla posts $702M loss in Q1

took 8 years for Tesla to turn a profit and bruh is trying to buy Twitter now too.

 

[mkg3]

is Elon too dumb to remember Tesla hemorrhaged cash in the beginning? or maybe it's convenient amnesia. either way:

• 2015: Tesla burns cash, loses more than $4k per car
• 2018: Tesla posts record loss of $710M
• 2019: Tesla posts $702M loss in Q1

took 8 years for Tesla to turn a profit and bruh is trying to buy Twitter now too.

You've hit the nail on the head!

That's exactly why he said what he said. He lived through the hemorrhaging and knows what's a head for both Rivian and Lucid.

In fact, the teardown video shows just how much Rivian is NOT designed for low cost manufacturing. There are plenty of placed to take the costs out; hence, his comment.

So many comments on this thread is based on either "hate Elon" or "Rivian is great" or both that the emotions are clouding the logic and real issues.

As a Rivian stock holder, I would hope they change what their doing a bit. The cash reserve doesn't last as much as RJ and Clare may want given inflation and costs escalating. The best time to make a change is when you can without impacting other activities - like right now.

 

[CommodoreAmiga]

took 8 years for Tesla to turn a profit and bruh is trying to buy Twitter now too.

Does Tesla even turn a profit on their vehicles, now? Last I heard they were selling offsets to other companies to bridge the gap.

 

[Gator42]

I have little confidence that Rivian is listening to us complain about the nav and infotainment - I live and drive in the mountains - which is precisely the region this truck targets

…kind of like only delivering their adventure vehicle to people who live in/near a major city…

 

[SANZC02]

Does Tesla even turn a profit on their vehicles, now? Last I heard they were selling offsets to other companies to bridge the gap.

They did but not until 2nd qtr of 2021, 9 years after the first Model S was delivered.