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Redefining Energy - Minutes / Archives 2022-23
94. Special episode on EVs. Pivotal year!
Nov 26, 2023
A special episode on EVs, discussing the global growth and profitability of the market, competition to Tesla, best-selling EV brands, upcoming Tesla Model 2, and the impact of EVs on car manufacturers.
08:01
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Quick takeaways
- EV startups face significant challenges, with only a few achieving success.
- The global EV market is experiencing rapid growth, with increasing availability and the introduction of affordable models.
Deep dives
Rivian's Losses and Wall Street's Reaction
Rivian, an EV startup, reported a revenue loss of $1.3 billion last quarter, which means it costs them twice as much to produce and sell a car. Despite the loss, Wall Street remains optimistic due to the large cash hand of $9 billion. However, when comparing cash flow since inception, Tesla is the only startup that has made a profit of $10 billion, while Rivian has experienced losses of $17 billion, followed by Neo in China with $8 billion, Lucid with $8 billion, and various other EV startups with significant losses. These numbers highlight the challenges faced by EV startups and demonstrate that only a few have achieved success.
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