---
title: "Musk Throws Fresh Shade at Rivian a Day After Rival’s Big IPO"
description: "Elon Musk doesn’t exactly sound optimistic about the prospects of Rivian Automotive Inc., even after the rival electric-vehicle maker’s blockbuster IP0."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "International Finance"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2021-11-12-musk-throws-fresh-shade-at-rivian-a-day-after-rivals-big-ipo/"
published: "2021-11-12T05:39:48"
lang: "en-ZA"
word_count: 237
---

# Musk Throws Fresh Shade at Rivian a Day After Rival’s Big IPO

> Elon Musk doesn’t exactly sound optimistic about the prospects of Rivian Automotive Inc., even after the rival electric-vehicle maker’s blockbuster IP0.

By Bloomberg · Published 12 November 2021, 07:39 SAST

## Content

Tesla Inc.’s chief executive officer said he hopes Rivian can boost production rates and get cash flow to break-even. But in a tweet Thursday he also noted that of hundreds of startups, “Tesla is the only American carmaker to reach high volume production & positive cash flow in past 100 years.”

> I hope they’re able to achieve high production & breakeven cash flow. That is the true test.
>
> There have been hundreds of automotive startups, both electric & combustion, but Tesla is only American carmaker to reach high volume production & positive cash flow in past 100 years.
>
> — Elon Musk (@elonmusk) [November 11, 2021](https://twitter.com/elonmusk/status/1458905811896446977?ref_src=twsrc%5Etfw)

Rivian, led by R.J. Scaringe, on Wednesday pulled off the biggest initial public offering worldwide this year. After a 22% gain Thursday, the company is already worth $107 billion, making it the [fifth-largest automaker](https://www.bloomberg.com/news/articles/2021-11-11/-next-tesla-tag-takes-rivian-to-90-billion-value-without-sales) by market cap.

The company is building battery-electric delivery vans for Amazon, as well as a pickup truck marketed to outdoor enthusiasts. Rivian lost almost $1 billion in the first half of the year and estimates that annual production will hit 150,000 vehicles at its main facility by late 2023.

Rivan has hired scores of former Tesla employees, including key engineers who were involved in Tesla’s Model 3 launch.

[Read more: Rivian’s ranks are filled with Tesla alums](https://www.bloomberg.com/news/features/2021-05-18/rivian-s-former-tesla-employees-lead-debut-of-3-new-electric-vehicles)

Musk has mused about Rivian before, saying last month that “prototypes are trivial compared to scaling production and supply chain.”