Biden Administration to Lend $6 Billion for Rivian E.V. Factory

[Buffalo Bob]

Wouldn't it be nice for Lucid to also have some non-dilutive working capital?

 

[joec]

I'm all for keeping Rivian alive. If they need the money, give it. It's a loan, not a handout. Tesla certainly got more in their early years.

More American car companies making EVs exclusively is a good thing for everyone.

 

[Buffalo Bob]

I'm all for keeping Rivian alive. If they need the money, give it. It's a loan, not a handout. Tesla certainly got more in their early years.

More American car companies making EVs exclusively is a good thing for everyone.

I agree wholeheartedly, which is why I think Lucid should get out their tin cup and start shaking it!

 

[Buffalo Bob]

Sorry everyone. I even searched 'Rivian' before I posted this and didn't see that it was already on the forum...

In fact, I still don't see it. Are search results not sorted to have the most recent ones first?

 

[HC_79]

Maybe Lucid’s strategy of gradual and steady progress is the more realistic approach much to peoples annoyance. As soon as Rivian appears to secure funding, it vanishes. I fail to understand why they’re embarking on this whirlwind tour of showcasing the R2 and R3 models, considering they’re still far from their release date. Yet, they’re unable to order the correct quantity of parts, leading to a downward revision in their guidance for this fiscal year.

While I appreciate the brand, something seems off with the rapid depletion of their cash reserves, even under the conventional assumption that establishing a car company entails substantial financial investments.

 

[HC_79]

Also, this doesn't come without consequences. Seems Rivian will need to allow or at least not block the option for staff to unionize. They may be doing a deal with the devil

 

[sdlucid]

While I appreciate the brand, something seems off with the rapid depletion of their cash reserves, even under the conventional assumption that establishing a car company entails substantial financial investments.

I was closely watching their financials and wondered about this too. Based on what I see from their vehicle and events, they are probably doing a massive brand awareness campaign so they will be in good shape when their R2/R3 are out on the market. I don't know if it will work as expected, or if it is too much money spent on that. On another note, from all the software features they aggressively push through OTA (including a holiday update similar to what Tesla does), I guess they are spending huge on software development. In a way, they are trying to follow Tesla's strategy to make the software as good as it can get. By the time their R2/R3 are into production, almost all good stuff is already developed. But, yea, this cash burn has to go down substantially by then.

 

[Joe]

Sorry everyone. I even searched 'Rivian' before I posted this and didn't see that it was already on the forum...

In fact, I still don't see it. Are search results not sorted to have the most recent ones first?

The regular search will show results by relevance.

If you want to see by date, click on the Advance Search option first, put what you're searching for, and select Date for Order By.

Note that this is a new topic so the forum system will need some time to update as well.

 

[EVCar]

I agree wholeheartedly, which is why I think Lucid should get out their tin cup and start shaking it!

With so much investment by the PIF already, I wonder if anyone else would want to partake, much less from the feds.

 

[Buffalo Bob]

With so much investment by the PIF already, I wonder if anyone else would want to partake, much less from the feds.

My uneducated guess is that only the Feds would want to partake in loans to LCID right now, and even the PIF might be OK with a government loan, as opposed to buying an even bigger piece of the pie, although it's chump change to them. Then again, there may be ulterior motives involved.

 

[DeaneG]

Also, the guidelines of the government's loan program, which was established in 2007, requires a “reasonable prospect of repayment” of the loan. Rivian has already publicly shown three mass-market midsized prototypes; Lucid has not.