What did Musk wish for rival startup Rivian?

FineAuto

This is how he reacted to the successful initial public offering (IPO) of electric startup Rivian. This company is considered Tesla’s main and most dangerous rival.

Elon Musk appreciated the success of the competitor and even wished further success in his Twitter account, in his usual manner. Musk expressed hope that Rivian will be able to achieve “high production levels and break-even cash flow.”

At the same time, the founder of Tesla did not forget to remind that such a success is “a real test.” Musk noted that today hundreds of startups are engaged in the production of electric cars. But only Tesla has managed to become the only American automaker to achieve high production volumes and positive cash flow over the past hundred years.

Recall that last Wednesday, November 10, Rivian raised $ 11.9 billion for its IPO. The startup managed to sell 153 million shares at $ 78 per unit.

Moreover, the automaker initially counted on more modest figures: 135 million securities at a price of $ 72-74.

Rivian’s market capitalization has now reached $ 104.9 billion. That’s more than auto giant Ford Motor Company at 80 billion.

Nearest Rivian Dealer

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