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bought a diplated factory in 2016, redid the whole assembly line in 2019 and started churning out 3 different types of vehicles in 2 years with a pandemic and a global supply shortage i think thats pretty impressive. keep in mind most of the competitors have been around for decades. tesla has been constructing the cyber truck factory for 3 years ? and still completion and commencing production of their truck is nowhere in sight. tesla is top selling car cause they had no competition. until now.
For 1T cap with even 50 p/e, Rivian will need to make 20B profit. Tesla got even heftier p/e because of no competition and covid induced traders. Assuming 15% profit margin, it requires 133B revenue, ~2M sales at $70k / unit. My only concern it’d need too much investment and shares will be diluted along that way to make 2M vehicles per year.
I will anyway look to invest $100K+ as investment, as I am overall bullish on EV long term. My current picks are Tesla (too over valued), LCID, NIO, XPEV.