Tesla Investors Mock Elon Musk Over Comments on Rivian
Tesla investors Gary Black and Ross Gerber recently took a jab at the company’s CEO, Elon Musk, over his comments regarding rival electric vehicle maker Rivian Automotive. The two investors mocked Musk for his remarks about Rivian executives needing to spend more time at the factory to avoid bankruptcy.
In a tweet, Gerber wrote, “RJ (Rivian CEO RJ Scaringe) doesn’t sleep at the factory…,” in response to Black’s prediction that Rivian could achieve significant deliveries and EBITDA by 2030 if it sticks to its current plans. Black also chimed in, suggesting that maybe it’s a good thing that Scaringe doesn’t sleep at the factory.
Musk had previously made comments about Rivian executives needing to spend more time at the factory and cut costs to avoid bankruptcy. He highlighted the challenges of achieving volume production and positive cash flow in the automotive industry. Musk, known for his hands-on approach to production, mentioned that he and his team at Tesla sometimes sleep at the factory to focus on production processes.
Despite Musk’s skepticism, both Gerber and Black remain optimistic about Rivian’s future. Black predicted a Tesla-like turnaround for the startup, with potential upside in the stock price by 2030. Gerber also expressed confidence in Rivian, citing the company’s strong brand and potential for success with adequate capital.
Overall, the debate between Musk and the two investors highlights the differing opinions on Rivian’s future prospects in the electric vehicle market. While Musk emphasizes the challenges facing the company, Gerber and Black see potential for growth and success. It will be interesting to see how Rivian navigates the competitive landscape and whether it can live up to its potential in the coming years.
