But Rivian remains in the best shape in terms of cash, vehicle output and plans to move into the mainstream.
The R1T starts at $73,000, excluding shipping, and the R1S starts at $78,000. Rivian hasn’t announced price levels for R2 vehicles but has suggested significantly lower production costs.
“I think Rivian’s long-term prognosis is as strong as any all-new EV maker,” Brauer said. “I’m not saying they are absolutely going to make it — I’m saying they have as good or better shot than any relatively new EV brand. The company has already overcome a lot, but they’ve also been around a long time.”
Rivian was founded by Scaringe in 2009.
Brauer noted that Tesla Inc., the EV industry leader, was able to go more than a decade without turning a profit. Rivian, a relative newcomer in terms of production, has some time to prove itself in the market and on Wall Street.
“Rivian has many of the same traits as Tesla, both being domestic EV companies with over a decade of history and highly innovative products,” Brauer said an an email.
“But Rivian has a more stable leadership team with a much less controversial history. And I like Rivian’s products more than Tesla. I still don’t know if Rivian will make it. But Rivian should make it.”
