Skip to comments.Green Trucks, Red Ink: Rivian Loses $33,000 for Every Electric Pickup Sold
Posted on 10/02/2023 12:43:56 PM PDT by ChicagoConservative27
Rivian Automotive, a market leader in producing electric pickup trucks, has struggled with producing electric vehicles (EVs) that can accomplish tasks their gasoline engine counterparts handle with ease. A new report from the Wall Street Journal shows the company also struggles with profitability. The company reportedly loses an average of $33,000 for every truck it sells.
The Wall Street Journal reports that Rivian Automotive has positioned itself as a trailblazer in the electric vehicle sector, aiming to deliver an unparalleled driving experience by combining sports-car handling, advanced features, and robust design in its pick up trucks and other models. But not everything is working out according to the company’s plans.
(Excerpt) Read more at breitbart.com ...
I’m sure this is all good and TeslaGator will tell us why
If the “market leader” loses $33K on each vehicle it manufacturers, what does that say about “the market?”
That’s not a very good business model.........................
Translation: We need gubment money.
Don’t worry, they will make it up in volume.
They are nice looking vehicles. I’ve seen a couple around town.
While I have seen many, many Tesla sedans around here in NW Florida, I have see just one or two Rivians. Maybe saw the same one twice......................
“..loses an average of$33,000 on every vehicle sold...”
and that is after receiving how many taxpayer subsidy dollars for every vehicle sold????
that fruity looking thing is the market leader?
Maybe they can make it up in volume...
If this doesn’t scream “xidenomics” I don’t know what would.
I've seen a few at charging stations. They are a good showpiece, but IMHO that's it. Even though my wife and I like our EV car, we hate the government's push to force or subsidize EV's. And I certainly don't understand the truck EV makers' reasoning for going with full-size truck EV's.
They should have tried it first with small trucks since people don't buy small trucks for carrying large loads long distances (what EV trucks are horrible at). Nor do they use them for long family trips. Most people with small trucks are a potential market for practical EV use because they tend to use their trucks mainly for commuting with an every now and then light load --- the kinds of things EV's are good at (assuming other variables are right in your situation for an EV, like warm climate, the ability to charge at home, drive enough miles to make the gas savings worth the other costs, etc.).
They are not going to lose money one way or another. BranDUHn bux will make it up.🤬
How many vehicles to reach break even?
I guess their business model was approved by Janet Yellen. Or Ben Bernanke.
These companies who use “conflict minerals” should try naming their vehicles/products after famous people connected to slavery.
Can we have a few candidates for these autoMao-bile makers?
My neighbor has one, it is a very sharp looking vehicle, but so are tons of other vehicles, most of which cost way more than I would be willing to pay.
Remember back in the last 90s at the height of the Dot Com bubble, any hair brained idea about doing something called the internet, which was relatively new at the time, you could raise billions in a public offering.
The vast majority of those companies went bankrupt practically overnight and massive layoffs in the tech industry ensued.
I can see something similar happening to these EV companies and much of these Green Energy companies.
No problem. We can cover that deficit from our infinite Federal funds.
Even if I loved the vehicle and was willing to pay a premium for it, I’d never buy a Rivian for one simple reason: I’d have no confidence that the company will still be in business a year from now if I need to buy parts for repairs.
“struggled with producing electric vehicles (EVs) that can accomplish tasks their gasoline engine counterparts handle with ease”
Gee, you mean needing to carry a battery that weighs almost as much as the rest of the vehicle doesn’t lend itself to hauling cargo?
True that. I believe in the earliest Rivian days a selling point was that Ford Motor Co invested in Rivian -- the idea being that Ford would make sure parts would be available even if Rivian went under. But I believe Ford divested from Rivian.
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