Elon Musk responds to calls for Tesla to buy Rivian
Tesla CEO Elon Musk responded to calls for his EV maker to buy competing startup Rivian, in what would be a monumental merger between two industry-leading companies.
Musk was in Philadelphia on Friday night for an event ahead of the U.S. presidential election as he was attempting to help former U.S. President Donald Trump swing Pennsylvania. The stop is one of several Musk has planned in the Keystone State.
The event, while more focused on politics, was also met with questions about Tesla, Musk’s electric vehicle company.
One attendee who was there to ask Musk a question pushed the CEO on why Tesla had not sought to buy Rivian, a competing automaker that has a solid consumer base, strong products, and an innovative CEO running the company but a shaky financial platform.
Musk said:
“I wish them the best. I hope they do well. The car industry is a very difficult industry. There’s only two U.S. car companies that haven’t gone bankrupt, and that’s Ford and Tesla. Rivian’s going to have a hard time. It’s insanely difficult to compete in the car industry. If it were not for two technology discontinuities, one being electrification and the other being autonomy, I think Tesla could not succeed without solving both.”
Rivian has managed to make it several years and is set to roll out its next generation of products with a new platform that will bring costs down for it and consumers, as well as streamline the manufacturing process.
Elon Musk was asked tonight why @Tesla hasn’t bought Rivian:
“I wish them the best. I hope they do well. The car industry is a very difficult industry. There’s only two U.S. car companies that haven’t gone bankrupt and that’s Ford and Tesla. Rivian’s going to have a hard time.… pic.twitter.com/yzgSlKkpTs
— Sawyer Merritt (@SawyerMerritt) October 19, 2024
However, it is feeling the pains of starting an EV company without a relatively endless amount of financial backing, like Lucid with the Saudi PIF.
It had investors like Ford and Amazon, but those partnerships ended or became non-exclusive.
Although it remains in a situation where it can build vehicles and expand products, it has yet to make a profit on the cars it builds for customers, something that took Tesla several years to achieve.
Competition is good for the market, as well, and Rivian is currently building a vehicle platform that caters to a different consumer base than Tesla. Rivian’s vehicles, while all-electric like Tesla’s, are more geared toward the outdoors and camping.
Please email me with questions and comments at joey@teslarati.com. I’d love to chat! You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.
The post Elon Musk responds to calls for Tesla to buy Rivian appeared first on TESLARATI.
Source: https://www.teslarati.com/elon-musk-responds-to-calls-for-tesla-to-buy-rivian/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,649,871,113 |
| Stories: | 8,276,593 |
Whistler Blowers, Insiders
