What is going on with Rivian?

Rivian is an electric vehicle startup company which was one of the most hyped-up IPOs in recent years. The company has been plagued by financial performance issues. In 2022, Rivian reported a loss of almost $7 billion. The company has about 11 billion in cash on hand. So what happens when people stop throwing money into the Rivian money furnace under the guise of investing?
While is true that revenue increased from $55 million in FY 2021 to $1.7 billion in FY2022.
There is a lot of competition in the electric vehicle space, not only from Tesla, but from legacy automakers like General Motors and Ford.
Rivian is losing money on every car they manufacture. When we had artificially low interest rates, and effectively free money, this was a strategy that worked somewhat, but now, interest rates have risen and cash has dried up.
Rivian claims it can get in a stronger position via volume but how many people can really afford a Rivian truck? Now Range Rover is producing an EV SUV. Also, the electric Ford F150 is popular as well.
If you really must invest in Rivian, Amazon is a safer way to gain exposure.
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