Musk says high production, breakeven cash flow ‘true test’ for Rivian

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November 11 (Businesshala) – Tesla Inc (TSLA.O) boss Elon Musk said on Thursday that high production and breakeven cash flows for Rivian Automotive Inc. (RIVN.O) were “true,” a day after the electric vehicle maker’s blockbuster The exam will be conducted. Market start.

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“There are hundreds of automotive startups, both electric and combustion, but Tesla is the only American carmaker that has reached high volume production and positive cash flow over the past 100 years,” Musk said in a statement. Tweet,

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“I hope they (Rivian) are able to achieve high production and breakeven cash flow. That is the real test.”

Rivian raised nearly $12 billion in the world’s largest initial public offering this year, and shares surged to more than $100 billion in market valuation, making it the second most valuable automaker in the United States behind Tesla.

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Rivian, which has just started selling its vehicles, was not immediately available for comment on Musk’s tweet.

Musk was responding to a follower that Tesla had been selling its Roadster model for more than two years, when the Model S was made public a decade ago.

Since the IPO, Tesla has ramped up production to deliver about 500,000 cars each year, with the company entering the trillion-dollar market value club last month.

Reporting by Nivedita Balu in Bengaluru; Editing by Shreeraj Kalluvilla

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