Rivian is arguably the most successful EV startup in the US, although it's far from coming out of the woods. The company burns its cash reserves like there's no tomorrow and only a radical change in strategy can save it from following Lordstown and Fisker into nothingness. Rivian is reconsidering its options with a new strategy copied from Tesla's book down to autonomous driving and manufacturing tricks.
Although Rivian looks like a promising startup with compelling vehicles and solid plans to become profitable, everything can come tumbling down in the blink of an eye. Having started its journey with one of the fattest cash reserves in the industry, Rivian hasn't paid much attention to financial discipline. Thanks to a massive investment from Amazon, all it had to do was focus on delivering the vehicles it promised and scale up operations.
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