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aka0007 t1_j9tb6tn wrote

Tesla in 2017 sold 2,685 Model 3's and their FCF that year was -4.1B. In 2018 they sold 152,977 Model 3's and their FCF that year was -221M.

RIVN in 2021 sold 920 r1t's and their FCF was -4.4B... So ah-ha! You must think you are right because look at how close that FCF is... But... through Q3' 2022 with 12,278 vehicles sold their FCF was another -4.7B.

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So to recap from Year 1 of production to Year 2 of production for the Model 3 vs the Truck/SUV Rivian makes:

Tesla 2,685 -> 152,977

Rivian 920 -> 12,278

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FCF for those periods:

Tesla -4.1B -> -221M

Rivian -4.4B -> -4.7B

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If you want to dig deeper into this...

In Q1' 2022 per vehicle sold, Rivian's FCF was -654K

In Q2' 2022 per vehicle sold, their FCF was -206K

In Q3' 2022 per vehicle sold, their FCF was -449K

Not sure scaling is working out here as you think.

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You can chirp on about how Rivian is doing this and that, but the numbers here don't show it. Tesla within a year turned around a cash-burning production process... Rivian has barely scaled up and as of Q3 was still burning cash like crazy. I would not count on next week Tuesday after the close looking pretty.

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