I've a very small position. Less than 100 shares. I live 15 minutes from the plant so I'm really cheering for them. Here are some things people need to consider before blasting Rivian as some joke stock.
1.Even though they missed projections their revenue went from $1mil to $20mil in 1 quarter.
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They are consumer based with the R1T and R1S, but they still produce a commercial Van. Trust me..When people start seeing the R1S on the road their perception of Rivian will change. It is an aesthetic masterpiece of auto engineering.
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Comparisons to Lucid are ridiculous. Lucid had a 2 year head start and really only produces 1 model, yet they've only delivered around 400 cars to Rivians over 1000 deliveries. Lucid has over 1.4 billion outstanding shares to Rivians 850 million. Plant capabilities are also in favor of Rivian. While Lucid says their 1mil sq ft plant is theoretically capable of 400k units/year, Rivian's much larger revamped and modernized Mitsubishi plant has delivered over 200k units/year for over 20 years. Not just 1 model either. Multiple models of Chryslers and Mitsubishis. Rivian is consistently expanding this plant and they are building to this day to meet demand.
4.They make battery packs in house. Which gives them more control over pricing and output.
5.Ford left the board because they believe Rivian will be a larger competitor than they initially thought. They have plans for another plant which means they arent trying to compete with Tesla and Lucid. They are trying to compete with the big 3.
- What is not to like about RJ? He stays quiet and doesn't insert himself into political and economic affairs unlike some other business leaders probably because hes focused on Rivian. He sets the example as a real leader would, and what the leader does the people do also.
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