Rivian, Lucid, and Fisker are all reporting their earnings, and all appear to be in various stages of emergency alert. Let’s crunch the numbers.
It’s earnings season, and anyone invested in the idea that electric vehicles are the future of transportation is all over Tesla. But Elon Musk’s company isn’t the only one putting all its bets on battery-electric vehicles. Three other so-called “pure EV plays” — Rivian, Lucid Motors, and Fisker — also posted their earnings this week. And sifting through the numbers reveals some worrisome trends.
Fortunately, it has $7.9 billion of cash and cash equivalents on hand, but it acknowledges that further cuts will be necessary if it’s ever going to achieve stability. Rivian has already gone through several rounds of layoffs in its short history, but it’s possible more could be on the horizon.
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