Fast Technology reported on February 24 that success and defeat have always been the case, and only if you succeed can you have the right to speak.
Recently, Rivian and Lucid, the new American car-making forces, announced their financial reports for the fourth quarter and full year of 2023, which naturally attracted Musk's attention as Tesla's old rivals, and his comments were quite sharp.
Regarding Rivian, Musk said, "Their product design is not bad, but what is really difficult to make a car company profitable is to achieve mass production and positive cash flow." ”
As a result, if Rivian doesn't cut costs heavily, the company will run out of money in about six quarters, adding that Rivian's executives need to "live in the factory or they'll die."
According to the financial report, although Rivian's total revenue in 2023 is 44$3.4 billion (about $318..)9.6 billion yuan), an increase of 167 compared to 20224%, an all-time high, but it has actually been losing money, losing a total of 54US$3.2 billion (about 39.0 billion.)7.6 billion yuan).
It is worth mentioning that it also recently announced a decision to lay off 10% of its workforce, which is the third and largest layoff since its establishment.
In contrast, Lucid is in a tougher position, with its latest earnings report showing that it plans to produce only 9,000 vehicles in 2024, just 500 more than its 2023 production guidance.
It is reported that Lucid also has a factory in Saudi Arabia and is owned by a subsidiary of the country's sovereign wealth**, and Musk bluntly said that "Saudi financiers are the only factor that keeps them alive."