Posted 10/4/2023, 3:17:00 PM
Rivian Losing $33K per Truck Sold, Rapidly Burning Cash to Ramp Up Production
- Rivian loses $33,000 on every truck it sells according to a new WSJ report
- The company has burned through half of its $18 billion cash pile in just two years
- Rivian hopes to cut production costs per vehicle by up to $40,000 to become profitable
- Increasing factory output would also help reduce losses
- One analyst says Rivian may need to raise prices to an average of $96,000 per vehicle to break even
