Rivian’s Loss to Tesla

By Douglas A. McIntyre Published Jun 21, 11:30AM EDT

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Rivian’s Loss to Tesla — © RoschetzkyIstockPhoto / iStock Editorial via Getty Images

Rivian will use the Tesla national electric vehicle EV charging network. It joins Ford and General Motors with that distinction. The difference is that Rivian is an EV company and should have built its own large network. (These are the 13 biggest electric vehicle business failures in American history.)
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Reuters reports that Tesla will have about 12,000 Superchargers in the United States and Canada by early next year. The same source says that Rivian will continue to build a network of its own, which is futile given its plan to use Tesla’s.
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The Ford and GM decisions show that even the largest car companies cannot catch Tesla regarding EV charging locations. Rivian, on the other hand, may need the network to stay alive.

Rivian’s website says that the company sold approximately 35,000 trucks through March 31, 2023. It produced only 10,200 vehicles in the fourth quarter of last year.
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This is another example of how problems surround Rivian. One is huge losses and small revenue. In the most quarter, revenue was $661 million, The company lost $1.35 billion.
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Rivian’s trucks are too expensive. The base price of an R1S is $79,800. The Rivian brand is not strong enough to support that price when many strong brands like Ford and Tesla will come out with competing products.

Rivian needs more than Tesla’s charging stations to make it.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.