Rivian IPOed at $66 billion and shot up to $100 billion on first day of trading. In the same quarter as its IPO, it sold 1,000 cars. Tesla and Rivian gave us t

Rivian IPOed at $66 billion and shot up to $100 billion on first day of trading. In the same quarter as its IPO, it sold 1,000 cars. Tesla and Rivian gave us the impression that electric cars were very difficult and expensive to make. When I was in Shenzhen in 2023, I saw that Huawei was selling electric cars. Every car on the road was basically an EV. I wondered why Tesla and Rivian had such troubles making EVs when everyone and their grandmas were mass producing them in China. I think Rivian being worth as much as $100b is laughable with hindsight. They'll never be able to compete selling $100k SUVs.