Elon Musk Disdains Rivian, Tesla’s Billionaire Rival

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Elon Musk: Last Wednesday (10), the electric car maker Rivian publicly opened its shares to American investors and, within hours, the company reached the value of US$ 100 billion. Elon Musk, the commander of Tesla, apparently did not like the news and went to Twitter to provoke the competitor.

Rivian Automotive’s shares soared more than 50% on the stock exchange and, as a result, the company became the second largest car manufacturer in the United States, only behind Tesla. After reading the latest news, Elon Musk scoffed at the company’s achievement and posted taunts on his Twitter profile.

“There have been hundreds of automotive startups, both electrical and combustion, but Tesla is [the] only American automaker to achieve high production volume and positive cash flow over the past 100 years. I hope they [Rivian] are able to achieve high production and cash flow balance. This is the real test,” said Musk.

So far, the rival has not responded to comments from the CEO of Tesla and Space X. By the time it opened its IPO on NASDAQ in 2010, Tesla managed to reach a market cap of $2 billion in just two days of trading. .

Rivian on the rise

So far, Rivian has received more than 55,000 orders for pickup trucks in the R1S SUV and R1T models, in addition to a contract with Amazon, until 2030, which provides for the construction of 100,000 electric vans.

Rivian is a startup electric car maker founded in 2009, but the company’s fame has started to grow in recent years with the imminent launch of its first electric vehicle, launched in September 2021 — originally, the R1T electric pickup would be launched in 2020.

“We wanted to establish our brand by offering a combination of efficiency, on-road performance, off-road capability, functional utility and product refinement that simply didn’t exist on the market,” Rivian said in a statement.