Tesla CEO Elon Musk Says High Production, Breakeven Cash Flow ‘True Test’ for Rivian

Tesla boss Elon Musk stated on Thursday excessive manufacturing and breakeven money stream could be the “true take a look at” for Rivian, a day after the electrical automobile maker’s blockbuster market debut.

“There have been a whole lot of automotive startups, each electrical and combustion, however Tesla is (the) solely American carmaker to succeed in excessive quantity manufacturing & constructive money stream in previous 100 years,” Musk stated in a tweet.

“I hope they’re (Rivian) in a position to obtain excessive manufacturing and breakeven money stream. That’s the true take a look at.”

Rivian raised about $12 billion (roughly Rs. 89,332 crore) on this planet’s greatest preliminary public providing this 12 months and its market valuation hit greater than $100 billion (roughly Rs. 7,44,430 crore) as shares surged, making it the second most useful automaker in the US after Tesla.

Rivian, which has simply began promoting its automobiles, was not instantly accessible for touch upon Musk’s tweet.

Musk was responding to one in every of his followers pointing that Tesla had been promoting its Roadster mannequin for over two years with plans to roll out Mannequin S when it went public over a decade in the past.

Because the IPO, Tesla has ramped up manufacturing to ship about 500,000 automobiles yearly, with the corporate coming into the trillion-dollar market worth membership final month.

© Thomson Reuters 2021

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