Elon Musk Wishes Rivian Well After IPO - The Rest Of The Automakers Remain Silent

Agent009 submitted on 11/12/2021 Auto Spies Photos Timestamp: 10:37:39 AM

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Rivian’s IPO started at $78 per share, valuing the company at $77 billion on a fully diluted basis. As of this writing, RIVN stock price is up to $122.99, valuing the company at $104.89 billion.

While Elon Musk showed his support for Rivian with his well wishes, the Tesla CEO also reminded everyone of the challenges that Rivian is still set to face, specifically in ramping production.

“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,” he wrote

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