Musk says high production, breakeven cash flow ‘true test’ for Rivian

Nov 11 (Reuters) – Tesla Inc (TSLA.O) boss Elon Musk said on Thursday high production and breakeven cash flow would be the “true test” for Rivian Automotive Inc (RIVN.O), a day after the electric vehicle maker’s blockbuster market debut.

“There have been hundreds of automotive startups, both electric and combustion, but Tesla is (the) only American carmaker to reach high volume production & positive cash flow in past 100 years,” Musk said in a tweet.

Rivian raised about $12 billion in the world’s biggest initial public offering this year and its market valuation hit more than $100 billion as shares surged, making it the second most valuable automaker in the United States after Tesla.

Musk was responding to one of his followers pointing that Tesla had been selling its Roadster model for over two years with plans to roll out Model S when it went public over a decade ago.

Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila
Source : Reuters