Rivian and Lucid Motors are two of the most promising electric vehicle startups that have emerged in recent years. Both companies have attracted significant investment from big players in the automotive and technology industries, and have generated a lot of buzz around their products and plans. However, there is a question looming over the future of both companies: which one will go out of business first?
Let's examine the pros and cons of both companies, their strengths and weaknesses, and the factors that may influence their success or failure.
Rivian
Rivian is an electric vehicle manufacturer founded in 2009 by RJ Scaringe. The company's flagship product is the R1T electric pickup truck and the R1S electric SUV. Rivian has raised over $10 billion in funding, with major investors including Amazon, Ford, and Cox Automotive. The company has also secured deals to supply electric delivery vans to Amazon and electric trucks to Ford.
Pros
One of Rivian's biggest strengths is its strong financial backing. With over $10 billion in funding, the company has the resources to continue developing and producing its electric vehicles, even if it takes longer than expected to achieve profitability. Another strength of Rivian is its focus on utility vehicles. The R1T and R1S are designed to appeal to customers who need a rugged, capable vehicle for work or recreation, and this market segment has historically been underserved by electric vehicle manufacturers.
Cons
Despite its impressive funding, Rivian has yet to bring a product to market. The R1T and R1S were originally slated to go into production in 2020, but the COVID-19 pandemic and other delays have pushed that timeline back. If Rivian is unable to bring its vehicles to market in a timely manner, it could struggle to maintain investor confidence and compete with established automakers who are also entering the electric vehicle market.
Lucid Motors
Lucid Motors is a luxury electric vehicle manufacturer founded in 2007 as Atieva. The company's flagship product is the Lucid Air luxury sedan, which is designed to compete with high-end vehicles from Tesla, BMW, and Mercedes-Benz. Lucid has raised over $4 billion in funding, with major investors including Saudi Arabia's Public Investment Fund and investment firm BlackRock.
Pros
One of Lucid's biggest strengths is its focus on luxury vehicles. The Lucid Air is designed to appeal to customers who value performance, comfort, and style, and are willing to pay a premium for those features. This market segment has proven to be highly profitable for established automakers like Tesla and BMW, and Lucid has the potential to capture a significant share of this market. Another strength of Lucid is its impressive technology. The Lucid Air is expected to have a range of over 500 miles on a single charge, which would make it one of the longest-range electric vehicles on the market.
Cons
Like Rivian, Lucid has yet to bring a product to market. The Lucid Air was originally slated to go into production in late 2020, but the company has encountered delays in the development and testing process. If Lucid is unable to bring the Lucid Air to market in a timely manner, it could struggle to maintain investor confidence and compete with established luxury automakers who are also entering the electric vehicle market.
Deathwatch...
Both Rivian and Lucid Motors have the potential to be successful electric vehicle manufacturers, but they also face significant challenges and risks. Rivian has a strong focus on utility vehicles and significant financial backing, but has yet to bring a product to market. Lucid has a strong focus on luxury vehicles and impressive technology, but has also encountered delays in the development process. Ultimately, the question of which company will go out of business first?
YOU MAKE THE CALL! RIVIAN or LUCID???