LOL WATT? Elon Musk says that Lucid and Rivian are tracking toward bankruptcy… | VW Vortex

Elon Musk says that electric vehicle startups Lucid and Rivian are tracking toward bankruptcy unless something changes.
During an interview with the Tesla Silicon Valley Owners Club, Tesla CEO Elon Musk said that both Lucid Motors and Rivian, two US-based electric vehicle startups, are trending toward bankruptcy.The CEO said:

Unless something changes significantly with Rivian and Lucid, they will both go bankrupt. They are tracking toward bankruptcy.

Musk added:

I hope they can do something, but unless they can cut their cost dramatically, they are in deep trouble and will end up in the car cemetery like every other with the exception of Tesla and Ford.

Musk also added later during the interview:

My advice to Rivian would be to cut costs immediately across the board dramatically or they are doomed.

He also commented on Rivian increasing the prices of its electric vehicles earlier this year and noted that when you increase the price, you “reduce the number of people who can afford the vehicles exponentially.”

Leave a Reply

Your email address will not be published. Required fields are marked *