This report is insane, no wonder they have reportedly got through half their $18B cash reserve.
It’s tough starting a new electric vehicle company these days, just ask Faraday Future or Lordstown Motors. But Rivian seemed like one of the good ones that might actually make it, as it’s been shipping its electric trucks out to customers for almost two years now. However, the company is still burning through cash at an extraordinary rate, and a new report found that it actually loses more than $30,000 on almost every truck it sells.
Rivian Loses $33K On Every Truck It Sells: Report
The electric truck maker is looking to seriously slash its costs as it hopes to be profitable by the end of 2024
jalopnik.com
It’s tough starting a new electric vehicle company these days, just ask Faraday Future or Lordstown Motors. But Rivian seemed like one of the good ones that might actually make it, as it’s been shipping its electric trucks out to customers for almost two years now. However, the company is still burning through cash at an extraordinary rate, and a new report found that it actually loses more than $30,000 on almost every truck it sells.