Tesla Bull Says Rivian Is A Long Way From Making Money: 'Absent Volkswagen And Amazon As Sugar Daddies They Would Probably Be History'

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Tesla Bull Says Rivian Is A Long Way From Making Money: 'Absent Volkswagen And Amazon As Sugar Daddies They Would Probably Be History' - Benzinga

Quick Summary:

Analyst Take: Black, Managing Partner at The Future Fund LLC, said in a post on X that in the absence of regulatory credit sale revenue, the company would have lost about $13,000 for every vehicle sold in the quarter.“My sense is Rivian stockpiled their reg credits and then sold them all in 4Q to be able to show they were gross profit positive.

Rivian Automotive (NASDAQ:RIVN) reported a quarterly gross profit of $170 million for the first time in the fourth quarter owing to the sale of regulatory credits and not merely by cutting costs, according to Fund Manager Gary Black.

Investors should be able to see right through that,” Black said.“At $99K COGS per vehicle, Rivian is still a long way from making money and absent VOW and AMZN as sugar daddies they would probably be history,” Black said, referring to Rivian’s partnerships with German automaker Volkswagen ...