Elon Musk Comments on Rivian and Lucid's Cash Burn
Elon Musk has shared his thoughts on the financial performance of Rivian and Lucid, drawing attention to their substantial cash burn compared to Tesla's free cash flow generation.
Musk's Reaction on Social Media
Responding to a post on X showcasing Tesla's positive free cash flow against its competitors, Musk remarked on the difficulty of achieving financial stability in the electric vehicle (EV) market. He highlighted that Rivian and Lucid have collectively burned through $88 billion.
Tesla's Sales and Future Prospects
Despite positive cash flow, Tesla has experienced sales declines in regions like France and the UK. In California, sales have also dropped, even with the Model 3 and Model Y models leading sales charts. The company's prospects could improve with a permit to operate ride-hailing services in Texas, aiming to serve a large portion of the U.S. population with Tesla Robotaxis.
