Tesla had delivered 1,400 cars when it went public, Lucid & Rivian have 0, Musk raises an eyebrow



Tesla was the first American electric vehicle manufacturer that operated as a privately-held company for a couple of years.

At the time of its initial public offering (IPO) on June 29, 2010, Tesla (TSLA) had already delivered around 1,400 first-gen Roadsters. With an initial share price of $17, the total market cap of Tesla was around $1.7 billion at the time.

Fast-forward to 2021 and two more electric vehicle manufacturing companies have emerged, Rivian and Lucid Motors.

Tesla Accessories by EVANNEX.
– Sponsored –

At the time of its IPO on July 26, 2021, Lucid Motors had delivered 0 vehicles to its customers and still fetched a market cap of $33B at the time. As of today, the share price of Lucid Motors (LCID) is $23.41 with a market cap of $37.89B — still, no vehicles delivered.

However, according to a company press release, the first Lucid Air luxury electric sedan rolled off the assembly line in late September, and deliveries are scheduled to begin in late October.

Rivian on the other hand also filed for an IPO on October 1, 2021 — again, has yet to deliver an R1T electric pickup truck to a customer. Not only that but Rivian has already reported huge losses in its IPO filing (around $1B). With zero vehicle deliveries, Rivian (RIVN) is expected to have a market cap of $80B as public trading of its shares starts.

“These are strange days,” said Tesla CEO Elon Musk in response to a tweet that summarized all of the above-mentioned situations, “If it is possible to start an EV company without shipping any cars & get a valuation less than a billion dollars!?,” he further tweeted.

– Advertisement –

Tesla CEO Elon Musk has been selling Tesla electric vehicles for almost 13 years now and he knows all the ups and downs of the industry. Learned from his hardships at Tesla, he has always said that making prototypes is easy — production is hard.

“I hope they have a high pain tolerance. Scaling production, supply chain, logistics & service is a world of hurt,” Musk said of what’s coming towards Lucid and Rivian.

Musk has often said that Tesla is responsible for 2/3 of his personal and professional pain throughout his career. The toughest time at Tesla was in 2018 when Musk was sleeping on the factory floor as the automaker was struggling to scale Model 3 production.

Stay tuned for constant Tesla updates, follow us on: 
Google News | Flipboard | RSS (Feedly).

Iqtidar Ali
Iqtidar Alihttp://www.teslaoracle.com
Iqtidar has been writing about Tesla, Elon Musk, and EVs for more than 3 years on XAutoWorld.com, many of his articles have been republished on CleanTechnica and InsideEVs, maintains a healthy relationship with the Tesla community across the Social Media sphere. You can reach him on Twitter @IqtidarAlii

Latest News

Tesla (TSLA) wins a multi-billion dollar Megapack deal for battery energy projects in California and Texas

Tesla Energy (TSLA) won a multi-billion dollar deal for supplying its large Megapack batteries to Intersect Power. This battery...

Tesla (TSLA) raises prices of its flagship Model S and Model X EVs in the US and Canada

Tesla, Inc. (TSLA) increased the prices of its flagship luxury sedan Model S and luxury electric SUV Model X...

Tesla Model Y RWD owners can unlock 50 miles of extra range for $1,600 via an OTA update

Tesla (TSLA) is now offering some of its Rear-Wheel Drive (RWD) Model Y owners a chance to unlock 50...

Elon Musk explains the reason behind the delay of the Robotaxi unveiling event

Tesla CEO Elon Musk announced the unveiling date of the Robotaxi a few months ago. The automaker originally planned...
- Advertisement -

SpaceX performs a static fire test on Flight 5 Super Heavy rocket booster (videos, pics)

SpaceX conducted a static fire test on the Flight 5 Super Heavy rocket booster yesterday. This specific version of...

Watch the Flight 4 Super Heavy booster make a vertical splashdown landing in the ocean, Flight 5 landing will be caught by tower arms

It has almost been 3 weeks since Elon Musk's SpaceX launched Starship for the 4th time from its Starbase,...

Flight 4 Starship survives reentry burn and makes a successful splashdown landing

Yesterday’s Starship launch (Flight 4/IFT-4) accomplished all of its goals. The successful launch and reentry of both Super Heavy...

Tesla Tips & Tricks

Watch what happens when the Tesla Model 3 screen is smashed with a hammer while driving

A tech YouTuber Taras Maksimuk has performed a very...

Tesla Model Y/3 heat pump issue in cold weather might not be fixable with just a software update

Canada's extreme cold weather is taking a toll on...

Here’s how to access the Cybertruck tow hitch — watch it haul a 3,000lbs Brawley EV

Tesla Cybertruck has a rated towing capacity of 11,000...

Tesla Quarterly Reports & Eearnings

Tesla (TSLA) stock grew more than 40% in an 11-day rally

The share price of Tesla, Inc. (NASDAQ: TSLA) closed...

Tesla (TSLA) makes a comeback with 57,146 more EVs delivered in Q2 2024 compared to Q1

Tesla (TSLA) announced the company's Q2 2024 vehicle production...
- Advertisement -

You might also likeRELATED
Recommended for You